Freestanding Retail Building For
For Sale
$1,850,000
3045 W Broward Boulevard, Fort Lauderdale, FL 33312
Vacant 3,664 SF retail building on 7,202 SF lot.
Property Size3,664 SF
Lot Size0.17 Acres
Price / SF$504.91
Days on Market166
Property Features for 3045 W Broward Boulevard
General Information
Standard status
Active
Size
3,664 SF
Lot size
0.17 Acres
Zoning
B-2
Taxes and HOA fees
Annual Taxes
$8,712
Building Details
Building Size
3,664 SF
Year Built
1960
Listing Agency:
RE/MAX 5 Star Realty
Listed By:
John DeMarco · License #BK3134747
(954) 453-1000
Source:
Laerrealty
Added: Mar 26
Changed: Sep 3
Last Checked: Sep 7 at 4:56AM
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 RE/MAX 5 Star Realty
Investment Insights
Based on property information with market context.
This is a freestanding vacant retail building featuring 3,664 square feet of usable space, situated on a 7,202 square foot lot. The current layout is suitable for a variety of businesses, including retail and office uses, making it ideal for an owner-user. The property is located in an area zoned B-2, which accommodates most retail and commercial uses, including restaurants, bars, and automotive businesses.
Key Highlights
- Freestanding vacant retail building ideal for owner‑user.
- Versatile 3,664 square feet of usable space suitable for retail or office.
- Large 7,202 square foot lot.
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
$65,267
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
3.53%
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%
$1,305,340
$1.3M
Cap Rate 7%
$932,386
$932.4K
Cap Rate 9%
$725,189
$725.2K
Market Conditions
NOI Build-Up for 3,664 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
$101.1K $27.60/SF
− Vacancy
−$7.9K −$2.15/SF
EGI
$93.2K $25.45/SF
− OpEx
−$28.0K −$7.63/SF
NOI
$65.3K $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%
$1,305,340
Cap Rate 7%
$932,386
Cap Rate 9%
$725,189
Alternative Uses
Best Use
Retail
$932.4K
$815.8K – $1.09M
NOI $65,267 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $172,355 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,061
Businesses Nearby
224k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 39%
Apparel 8%
Electronics 6%
Wawa
Shops & Services
43,223 visits/mo
0.4 miles
Marshalls
Apparel
18,575 visits/mo
0.5 miles
IHOP
Dining
18,151 visits/mo
0.5 miles
Panda Express
Dining
16,386 visits/mo
0.4 miles
Chipotle Mexican Grill
Dining
15,122 visits/mo
0.5 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
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 - Vacant 3,664 SF retail building on 7,202 SF lot.
Where is this retail space located?
The property is located at 3045 W Broward Boulevard Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Freestanding vacant retail building ideal for owner‑user.; Versatile 3,664 square feet of usable space suitable for retail or office.; Large 7,202 square foot lot.
