Sunrise Boulevard Commercial Investment
For Sale
$2,900,000
2990 W Sunrise Blvd, Fort Lauderdale, FL 33304
Commercial property with multiple income streams on Sunrise Boulevard.
Property Size7,830 SF
Lot Size1.17 Acres
Price / SF$370.37
Days on Market173
Property Features for 2990 W Sunrise Blvd
General Information
Standard status
Active
Size
7,830 SF
Lot size
1.17 Acres
Taxes and HOA fees
Annual Taxes
$21,256
Listing Agency:
EXP Realty LLC
(786) 229-6567
Listed By:
Claudienne Hibbert · License #3022949
(786) 229-6567
Source:
Exprealty
Added: Mar 4
Changed: Aug 23
Last Checked: Aug 23 at 6:06AM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This commercial property in Broward County presents an investment opportunity, situated near the Sunrise Swap Shop. The sale encompasses six folios, totaling over 51,000 square feet of land. The property includes two commercial buildings: a 5,625-square-foot liquor store/lounge and a 2,205-square-foot restaurant. A billboard on the premises generates additional revenue. Located on Sunrise Boulevard, the property benefits from high visibility and exposure, with an estimated Annual Average Daily Traffic count of 52,000 vehicles. The liquor store/lounge has operated at this location since 1970. The location has a walk score of 58, indicating it is somewhat walkable, a bike score of 43, indicating it is somewhat bikeable, and a transit score of 36, indicating some transit options are available. This property, with its multiple income sources and location along a commercial corridor, offers potential for investors or operators.
Key Highlights
- High‑traffic location on Sunrise Boulevard with 52,000 vehicles AADT.
- Multiple income streams: liquor store/lounge, restaurant, and billboard.
- Large land area: over 51,000 square feet across six folios.
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
$139,476
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
4.81%
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%
$2,789,520
$2.8M
Cap Rate 7%
$1,992,514
$2.0M
Cap Rate 9%
$1,549,733
$1.5M
Market Conditions
NOI Build-Up for 7,830 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
$216.1K $27.60/SF
− Vacancy
−$16.9K −$2.15/SF
EGI
$199.3K $25.45/SF
− OpEx
−$59.8K −$7.63/SF
NOI
$139.5K $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%
$2,789,520
Cap Rate 7%
$1,992,514
Cap Rate 9%
$1,549,733
Alternative Uses
Best Use
Retail
$1.99M
$1.74M – $2.32M
NOI $139,476 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.26M
$4.60M – $6.14M
NOI $368,323 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
959
Businesses Nearby
63k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Dining 27%
Family Dollar
Shops & Services
17,209 visits/mo
0.3 miles
Exxon
Shops & Services
13,242 visits/mo
0.2 miles
KFC
Dining
12,336 visits/mo
0.1 miles
Marathon
Shops & Services
10,750 visits/mo
0.1 miles
Dunkin' Donuts
Dining
4,374 visits/mo
0.2 miles
Demographics for 33304, FL
19,978
Population
12,367
Households
1.6
Avg Household Size
46
Median Age
51%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
6,445
Density / Sq Mi
$84,951
Median Household Income
$55,527
Median Earnings
$1,727
Median Rent
$556,400
Median Home Value
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 property - Commercial property with multiple income streams on Sunrise Boulevard.
Where is this retail property located?
The property is located at 2990 W Sunrise Blvd Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: High‑traffic location on Sunrise Boulevard with 52,000 vehicles AADT.; Multiple income streams: liquor store/lounge, restaurant, and billboard.; Large land area: over 51,000 square feet across six folios.
