Fully Renovated Retail
For Sale
Contact for pricing
2990 Griffin Rd, Fort Lauderdale, FL 33312
Fully renovated 6,234 SF commercial retail property designed for modern functionality.
Property Size6,234 SF
Price / SF$413.06
Days on Market59
Property Features for 2990 Griffin Rd
General Information
Standard status
Active
Size
6,234 SF
Property subtype
RETAIL
Listing Agency:
Fausto Commercial Realty
(305) 961-1179
Listed By:
Elior Levi · License #3574869
(954) 743-7594
Source:
Moodyscre
Added: Jul 16
Changed: Sep 6
Last Checked: Sep 12 at 11:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fausto Commercial Realty
Investment Insights
Based on property information with market context.
This fully renovated 6,234 SF commercial property is a retail storefront space upgraded by JC Holdings to combine modern design and functionality.
Located at 2990 Griffin Road in Fort Lauderdale, it is positioned as a retail option within the broader commercial setting of the area.
The offering is presented as a turnkey retail buildout with renovations intended to support day-to-day customer-facing use.
Located at 2990 Griffin Road in Fort Lauderdale, it is positioned as a retail option within the broader commercial setting of the area.
The offering is presented as a turnkey retail buildout with renovations intended to support day-to-day customer-facing use.
Key Highlights
- Fully renovated 6,234 SF commercial retail property at 2990 Griffin Road
- Upgraded by JC Holdings with modern design and functionality
- Commercial retail layout designed for modern functionality
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$111,046
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,220,920
$2.2M
Cap Rate 7%
$1,586,371
$1.6M
Cap Rate 9%
$1,233,844
$1.2M
Market Conditions
NOI Build-Up for 6,234 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$172.1K $27.60/SF
− Vacancy
−$13.4K −$2.15/SF
EGI
$158.6K $25.45/SF
− OpEx
−$47.6K −$7.63/SF
NOI
$111.0K $17.81/SF
Area
Fort Lauderdale, FL
Vacancy
7.80%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,220,920
Cap Rate 7%
$1,586,371
Cap Rate 9%
$1,233,844
Alternative Uses
Best Use
Retail
$1.59M
$1.39M – $1.85M
NOI $111,046 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.19M
$3.67M – $4.89M
NOI $293,247 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
795
Businesses Nearby
71k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 59%
Shops & Services 33%
Dining 5%
Beauty & Spa 1%
Publix
Groceries
41,766 visits/mo
0.3 miles
Dollar Tree
Shops & Services
13,476 visits/mo
0.3 miles
Family Dollar
Shops & Services
5,132 visits/mo
0.1 miles
AutoZone
Shops & Services
4,509 visits/mo
0.3 miles
Antonio's Pizza
Dining
2,562 visits/mo
0.2 miles
Demographics for 33312, FL
51,570
Population
21,332
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
86%
High-School Grad
11.1 sq mi
ZIP Area
4,646
Density / Sq Mi
$77,644
Median Household Income
$39,333
Median Earnings
$1,566
Median Rent
$397,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Fort Lauderdale, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Fully renovated 6,234 SF commercial retail property designed for modern functionality.
Where is this retail space located?
The property is located at 2990 Griffin Rd Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $2,575,000.
What are key features of this property?
This property features: Fully renovated 6,234 SF commercial retail property at 2990 Griffin Road; Upgraded by JC Holdings with modern design and functionality; Commercial retail layout designed for modern functionality
