Adjacent Retail
New
For Sale
$153,333
6132 NW 11th Street #16-2, Sunrise, FL 33323
Three occupied storefront units in a co-op shopping strip with month-to-month tenancy and flexible acquisition options.
Property Size727 SF
Price / SF$210.91
Days on Market4
Property Features for 6132 NW 11th Street #16-2
General Information
Standard status
Active
Size
727 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Asking Price
$460,000
Taxes and HOA fees
Annual Taxes
$3,178
Amenities
Central air
Assigned
Central Air Cooling
Flat Roof
Guest
Other Roof
Building Details
Year Built
1974
Tenancy
Multi
Listing Agency:
THE AGENCY FLORIDA LLC
Listed By:
DEBRA P ROCHLIN · License #B26035302
(305) 203-5085
Source:
Corcoran
Added: Sep 4
Changed: Sep 6
Last Checked: Sep 6 at 2:49PM
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 THE AGENCY FLORIDA LLC
Investment Insights
Based on property information with market context.
This offering includes three adjoining storefront units within a cooperative shopping strip. Units 14, 15, and 16 are currently occupied by established tenants under month-to-month leases, providing existing occupancy and flexibility for future ownership or leasing decisions. The property was built in 1974.
The retail units are positioned one block north of Sunrise Boulevard, with access to major roadways and nearby residential communities. Units 14 and 15 are offered together, while Unit 16 can be acquired separately. The property is suitable for an investor or an owner-user seeking occupied retail space with flexible purchase configurations.
The retail units are positioned one block north of Sunrise Boulevard, with access to major roadways and nearby residential communities. Units 14 and 15 are offered together, while Unit 16 can be acquired separately. The property is suitable for an investor or an owner-user seeking occupied retail space with flexible purchase configurations.
Key Highlights
- Three adjacent retail units in a cooperative shopping strip
- Units 14, 15, and 16 are currently occupied
- Month‑to‑month leases provide flexibility for future ownership or leasing decisions
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
$12,293
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
8.02%
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%
$245,860
$245.9K
Cap Rate 7%
$175,614
$175.6K
Cap Rate 9%
$136,589
$136.6K
Market Conditions
NOI Build-Up for 727 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
$19.2K $26.40/SF
− Vacancy
−$1.6K −$2.24/SF
EGI
$17.6K $24.16/SF
− OpEx
−$5.3K −$7.25/SF
NOI
$12.3K $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%
$245,860
Cap Rate 7%
$175,614
Cap Rate 9%
$136,589
Alternative Uses
Best Use
Retail
$175.6K
$153.7K – $204.9K
NOI $12,293 @ 7.0% cap · market cap 8.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$368.8K
$322.7K – $430.3K
NOI $25,819 @ 7.0% cap · market cap 16.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,163
Businesses Nearby
15k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Lester's Diner
Dining
15,015 visits/mo
0.4 miles
Demographics for 33323, FL
23,149
Population
9,356
Households
2.5
Avg Household Size
39
Median Age
48%
College-Educated
95%
High-School Grad
7.5 sq mi
ZIP Area
3,087
Density / Sq Mi
$109,569
Median Household Income
$50,565
Median Earnings
$2,512
Median Rent
$449,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- ABC Maintenance — commodore dr, davie, fl 33325
Frequently Asked Questions
What type of property is this?
Storefront property - Three occupied storefront units in a co-op shopping strip with month-to-month tenancy and flexible acquisition options.
Where is this storefront property located?
The property is located at 6132 NW 11th Street #16-2 Sunrise, FL.
What is the asking price?
The asking price for this property is $153,333.
What are key features of this property?
This property features: Three adjacent retail units in a cooperative shopping strip; Units 14, 15, and 16 are currently occupied; Month‑to‑month leases provide flexibility for future ownership or leasing decisions
