Multi-Tenant Retail
For Sale
$1,000,000
3870 SW 2nd, Plantation, FL 33312
Corner-parcel commercial space with frontage on two streets and customer parking.
Property Size4,056 SF
Price / SF$246.55
Days on Market82
Property Features for 3870 SW 2nd
General Information
Standard status
Active
Size
4,056 SF
Property subtype
Commercial
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$18,039
Building Details
Year Built
1965
Tenancy
Multi
Listing Agency:
CMV REALTY LLC
(954) 394-7078
Listed By:
GUS MARTINEZ · License #B26032977
Source:
Corcoran
Added: Jun 10
Changed: Aug 30
Last Checked: Aug 30 at 5:50AM
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.
This retail property at 3870-3890 SW 2nd Court in Plantation, Florida, contains approximately 4,056 square feet and was built in 1965. The building is arranged for multiple tenants, supporting a multi-suite retail configuration within an established neighborhood commercial corridor.
The property occupies a visible corner parcel with frontage along SW 2nd Court and SW 38th Terrace. Access from both streets and customer parking serve the retail layout. Its East end Plantation location places the asset within Broward County’s established retail environment.
The property occupies a visible corner parcel with frontage along SW 2nd Court and SW 38th Terrace. Access from both streets and customer parking serve the retail layout. Its East end Plantation location places the asset within Broward County’s established retail environment.
Key Highlights
- Approximately 4,056 square feet of retail space
- Multi‑tenant configuration for multiple retail occupants
- Corner parcel with frontage along SW 2nd Court and SW 38th Terrace
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
$68,584
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
6.86%
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%
$1,371,680
$1.4M
Cap Rate 7%
$979,771
$979.8K
Cap Rate 9%
$762,044
$762.0K
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
$107.1K $26.40/SF
− Vacancy
−$9.1K −$2.24/SF
EGI
$98.0K $24.16/SF
− OpEx
−$29.4K −$7.25/SF
NOI
$68.6K $16.91/SF
Area
Broward County, FL
Vacancy
8.50%
Lease Rate
$26.40 /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%
$1,371,680
Cap Rate 7%
$979,771
Cap Rate 9%
$762,044
Alternative Uses
Best Use
Retail
$979.8K
$857.3K – $1.14M
NOI $68,584 @ 7.0% cap · market cap 6.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.06M
$1.80M – $2.40M
NOI $144,045 @ 7.0% cap · market cap 14.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,054
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Corner-parcel commercial space with frontage on two streets and customer parking.
Where is this retail space located?
The property is located at 3870 SW 2nd Plantation, 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: Approximately 4,056 square feet of retail space; Multi‑tenant configuration for multiple retail occupants; Corner parcel with frontage along SW 2nd Court and SW 38th Terrace
