Plantation Retail Investment
For Sale
Contact for pricing
Pending
3870-3890 Southwest 2nd Court, Fort Lauderdale, FL 33312
Multi-tenant retail property in Plantation, Florida with income potential.
Property Size4,056 SF
Days on Market102
Property Features for 3870-3890 Southwest 2nd Court
General Information
Standard status
Pending
Size
4,056 SF
Property subtype
Retail
Building Details
Year Built
1965
Tenancy
Multi
Listing Agency:
CMV Realty LLC
Listed By:
Gus Martinez PA · License #BK3033300
Source:
Crexi
Added: May 26
Changed: Aug 19
Last Checked: Aug 18 at 3:11PM
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 CMV Realty LLC
Investment Insights
Based on property information with market context.
Located in the east end of Plantation, Florida, the property at 3870–3890 SW 2nd Court presents an opportunity to acquire a multi-tenant retail investment. Situated on a visible corner parcel within an established neighborhood retail corridor, this property consists of approximately 4,056 square feet. The asset benefits from frontage along SW 2nd Court and SW 38th Terrace, providing accessibility and customer parking. Configured for multiple tenants, the property offers diversified income potential and flexibility for future leasing strategies. The property generates approximately $80,930 in annual gross income. Surrounded by dense residential neighborhoods and established local businesses, the property benefits from consistent neighborhood traffic and demand for service-oriented retail and professional uses. Its location in central Broward County provides proximity to major transportation corridors including Interstate 95, Interstate 595, and Florida’s Turnpike. The site’s corner positioning, accessibility, and functional layout create a desirable neighborhood retail environment. This offering is suited for private investors, owner-users, and 1031 exchange buyers seeking a retail asset with in-place income and future upside in South Florida.
Key Highlights
- Stabilized income‑producing asset with approximately $80,930 in annual gross income.
- Located in the desirable East end of Plantation, Florida, a strong Broward County submarket.
- Visible corner parcel with frontage on SW 2nd Court and SW 38th Terrace, offering excellent accessibility and convenient customer parking.
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
$72,250
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
7.23%
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%
$1,445,000
$1.4M
Cap Rate 7%
$1,032,143
$1.0M
Cap Rate 9%
$802,778
$802.8K
Market Conditions
NOI Build-Up for 4,056 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
$111.9K $27.60/SF
− Vacancy
−$8.7K −$2.15/SF
EGI
$103.2K $25.45/SF
− OpEx
−$31.0K −$7.63/SF
NOI
$72.2K $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%
$1,445,000
Cap Rate 7%
$1,032,143
Cap Rate 9%
$802,778
Alternative Uses
Best Use
Retail
$1.03M
$903.1K – $1.20M
NOI $72,250 @ 7.0% cap · market cap 7.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.73M
$2.38M – $3.18M
NOI $190,794 @ 7.0% cap · market cap 19.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,285
Businesses Nearby
201k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 33%
Groceries 8%
Home Improvements & Furnishings 2%
Wawa
Shops & Services
40,357 visits/mo
0.2 miles
dd's DISCOUNTS
Shops & Services
19,305 visits/mo
0.4 miles
Pollo Tropical
Dining
16,047 visits/mo
0.5 miles
Dollar Tree
Shops & Services
15,986 visits/mo
0.4 miles
Price Choice Foodmarket
Groceries
15,459 visits/mo
0.4 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 - Multi-tenant retail property in Plantation, Florida with income potential.
Where is this retail space located?
The property is located at 3870-3890 Southwest 2nd Court Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Stabilized income‑producing asset with approximately $80,930 in annual gross income.; Located in the desirable East end of Plantation, Florida, a strong Broward County submarket.; Visible corner parcel with frontage on SW 2nd Court and SW 38th Terrace, offering excellent accessibility and convenient customer parking.
