Retail Center with Billboard
For Sale
$2,900,000
2990 W Sunrise Blvd, Fort Lauderdale, FL 33311
COMMERCIAL - Fort Lauderdale, FL
Property Size7,830 SF
Lot Size1.00 Acre
Price / SF$370.37
Days on Market44
Property Features for 2990 W Sunrise Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B-3
Parking
50
Directions
Turnpike to Sunrise Blvd East - Passed NW 30th Street and the Property sits on the South side of the major Road of Sunrise Blvd.
Subdivision
3560
Standard status
Active
APN
504205050830
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Description
WASHINGTON PARK SECOND ADD 21-17 B LOTS 11,12,LOTS 13 TO 15,LESS N 15 FOR CO RD BLK 11
Tax Annual Amount
21256
Legal Description
WASHINGTON PARK SECOND ADD 21-17 B LOTS 11,12,LOTS 13 TO 15,LESS N 15 FOR CO RD BLK 11
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
billboard
Building Details
Year built
1968
Floors in Building
1
Number of units
2
Building materials
Block
Roof type
Tar/Gravel
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Claudienne Hibbert · License #3022949
(786) 229-6567
Added: Jun 30
Changed: Aug 4
Last Checked: Aug 12 at 7:06PM
MLS# A11971348
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale retail center includes two commercial buildings and a revenue-producing billboard. The property features a 5,625 sq. ft. liquor store/lounging and a 2,205 sq. ft. restaurant, both currently part of the site’s operating mix, along with billboard income.
The site is located directly on Sunrise Boulevard and is described as being just steps from the Sunrise Swap Shop. Public remarks indicate estimated Annual Average Daily Traffic of 52,000 vehicles, supporting strong day-to-day visibility along this established corridor.
With multiple existing income streams on one parcel, the property is presented as a consolidated offering for investors or operators seeking an operating retail configuration. Please see the MLS attachment and contact the listing agent for additional details.
The site is located directly on Sunrise Boulevard and is described as being just steps from the Sunrise Swap Shop. Public remarks indicate estimated Annual Average Daily Traffic of 52,000 vehicles, supporting strong day-to-day visibility along this established corridor.
With multiple existing income streams on one parcel, the property is presented as a consolidated offering for investors or operators seeking an operating retail configuration. Please see the MLS attachment and contact the listing agent for additional details.
Key Highlights
- Two commercial buildings totaling 7,830 sq. ft.: 5,625 sq. ft. liquor store/lounge and 2,205 sq. ft. restaurant
- Revenue‑producing billboard on‑site
- Approximately over 51,000 sq. ft. combined land area across six folios included in the sale
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
$157,627
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
5.44%
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%
$3,152,540
$3.2M
Cap Rate 7%
$2,251,814
$2.3M
Cap Rate 9%
$1,751,411
$1.8M
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
$225.5K $28.80/SF
− Vacancy
−$15.3K −$1.96/SF
EGI
$210.2K $26.84/SF
− OpEx
−$52.5K −$6.71/SF
NOI
$157.6K $20.13/SF
Area
Fort Lauderdale, FL
Vacancy
6.80%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
25.00%
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%
$3,152,540
Cap Rate 7%
$2,251,814
Cap Rate 9%
$1,751,411
Alternative Uses
Best Use
Specialty Retail
$2.25M
$1.97M – $2.63M
NOI $157,627 @ 7.0% cap · market cap 5.44%
Second Best
Retail
$1.99M
$1.74M – $2.32M
NOI $139,476 @ 7.0% cap · market cap 4.81%
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
Lease Details
52,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
989
Businesses Nearby
69k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 51%
Dining 42%
Home Improvements & Furnishings 8%
Popeyes Louisiana Kitchen
Dining
15,834 visits/mo
0.3 miles
Burger King
Dining
12,725 visits/mo
0.2 miles
Mobil
Shops & Services
10,034 visits/mo
0.1 miles
LUV Car Wash
Shops & Services
9,887 visits/mo
0.5 miles
Chevron
Shops & Services
7,501 visits/mo
0.4 miles
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
Median Home Value
Market
Vacancy Rate% for Retail in Fort Lauderdale, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Two income-producing restaurant and liquor store/lounge buildings plus a revenue billboard on a major retail corridor.
Where is this storefront 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: Two commercial buildings totaling 7,830 sq. ft.: 5,625 sq. ft. liquor store/lounge and 2,205 sq. ft. restaurant; Revenue‑producing billboard on‑site; Approximately over 51,000 sq. ft. combined land area across six folios included in the sale
