Two-Story Mixed-Use
For Sale
Contact for pricing
3520 W Broward Blvd, Fort Lauderdale, FL 33312
Retail and professional office property with 21 tenants and a long-standing State of Florida Department of Corrections presence.
Property Size25,482 SF
Lot Size1.35 Acres
Price / SF$173.65
Days on Market218
Property Features for 3520 W Broward Blvd
General Information
Standard status
Active
Size
25,482 SF
Lot size
1.35 Acres
Property subtype
Retail, Office
Occupancy
96%
Investment Type
Value Add
Net Operating Income
$320,135
Site & Location
Anchor Co-Tenants
State of Florida Department of Corrections
Traffic Count
46,500 vehicles/day
Building Details
Year Built
1968
Stories
2
Tenancy
Multi
Listing Agency:
Vero Capital Group
Listed By:
Charles Moody · License #BK3404499
Source:
Crexi
Added: Jan 26
Changed: Aug 30
Last Checked: Aug 31 at 4:05PM
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 Vero Capital Group
Investment Insights
Based on property information with market context.
Kingston Plaza is a two-story commercial center combining retail and professional office space in a 25,482-square-foot building with 22,861 rentable square feet. The property occupies 1.35 acres, was built in 1968, and is 96.52% leased across 21 tenants. The State of Florida Department of Corrections occupies roughly 30% of the building and has remained at the site for over three decades.
The center fronts W Broward Boulevard, designated FL-842, a major Fort Lauderdale commercial corridor with traffic exceeding 46,500 vehicles per day. Its address at 3520 W Broward Blvd places the property near Downtown Fort Lauderdale, I-95, and the Florida Turnpike.
The center fronts W Broward Boulevard, designated FL-842, a major Fort Lauderdale commercial corridor with traffic exceeding 46,500 vehicles per day. Its address at 3520 W Broward Blvd places the property near Downtown Fort Lauderdale, I-95, and the Florida Turnpike.
Key Highlights
- 25,482‑square‑foot building with 22,861 rentable square feet on 1.35 acres
- 96.52% leased across 21 tenants
- State of Florida Department of Corrections occupies roughly 30% of the building
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
$391,021
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
8.84%
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%
$7,820,420
$7.8M
Cap Rate 7%
$5,586,014
$5.6M
Cap Rate 9%
$4,344,678
$4.3M
Market Conditions
NOI Build-Up for 25,482 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
$672.7K $26.40/SF
− Vacancy
−$47.1K −$1.85/SF
EGI
$625.6K $24.55/SF
− OpEx
−$234.6K −$9.21/SF
NOI
$391.0K $15.34/SF
Area
Fort Lauderdale, FL
Vacancy
7.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
37.50%
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%
$7,820,420
Cap Rate 7%
$5,586,014
Cap Rate 9%
$4,344,678
Alternative Uses
Best Use
Office B
$10.46M
$9.15M – $12.20M
NOI $732,047 @ 7.0% cap · market cap 16.54%
Second Best
Retail
$6.48M
$5.67M – $7.57M
NOI $453,912 @ 7.0% cap · market cap 10.26%
Theoretical Best
Office A
$17.12M
$14.98M – $19.98M
NOI $1,198,673 @ 7.0% cap · market cap 27.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
46,500 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,418
Businesses Nearby
Explore this area
Business Placement
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 Office in Fort Lauderdale, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail and professional office property with 21 tenants and a long-standing State of Florida Department of Corrections presence.
Where is this mixed-use property located?
The property is located at 3520 W Broward Blvd Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $4,425,000.
What are key features of this property?
This property features: 25,482‑square‑foot building with 22,861 rentable square feet on 1.35 acres; 96.52% leased across 21 tenants; State of Florida Department of Corrections occupies roughly 30% of the building
