Mixed-Use Development
For Sale
Contact for pricing
700 W Broward Boulevard, Fort Lauderdale, FL 33312
Four connected parcels include retail, apartment, drug store, and vacant land components.
Property Size20,686 SF
Lot Size1.93 Acres
Price / SF$618.78
Days on Market9
Property Features for 700 W Broward Boulevard
General Information
Standard status
Active
Size
20,686 SF
Lot size
1.93 Acres
Property subtype
Retail, Mixed Use, Land
Zoning
RMM-25, B-1, and RAC-WMU
Occupancy
100%
Lease Type
NN
Investment Type
Redevelopment
Net Operating Income
$367,083
Additional Details
Land Use
mixed-use, commercial, residential
Building Details
Buildings
3
Stories
1
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Fort Lauderdale
Listed By:
Evan Kristol · License #FL SL640466
Source:
Crexi
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 31 at 5:02PM
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 Marcus & Millichap - Fort Lauderdale
Investment Insights
Based on property information with market context.
This 1.93-acre mixed-use property comprises four adjoining parcels with a varied existing composition. The site includes a Walgreens drug store, a 4-unit apartment building, a separate retail store, and an undeveloped lot, creating a combination of operating commercial, residential, and vacant land components.
The property is located at 700 W Broward Boulevard in downtown Fort Lauderdale, Florida. Current zoning spans RMM-25, B-1, and RAC-WMU. The redevelopment concept described for the site assumes rezoning the full assemblage to RAC-WMU, a designation identified in the source as accommodating residential, commercial, and office uses, subject to applicable approvals and criteria.
The property is located at 700 W Broward Boulevard in downtown Fort Lauderdale, Florida. Current zoning spans RMM-25, B-1, and RAC-WMU. The redevelopment concept described for the site assumes rezoning the full assemblage to RAC-WMU, a designation identified in the source as accommodating residential, commercial, and office uses, subject to applicable approvals and criteria.
Key Highlights
- 1.93‑acre mixed‑use property in downtown Fort Lauderdale
- Four contiguous parcels offered as one assemblage
- Existing Walgreens drug store and separate retail store
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
$416,434
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
3.25%
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%
$8,328,680
$8.3M
Cap Rate 7%
$5,949,057
$5.9M
Cap Rate 9%
$4,627,044
$4.6M
Market Conditions
NOI Build-Up for 20,686 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
$595.8K $28.80/SF
− Vacancy
−$40.5K −$1.96/SF
EGI
$555.2K $26.84/SF
− OpEx
−$138.8K −$6.71/SF
NOI
$416.4K $20.13/SF
Area
Fort Lauderdale, FL
Vacancy
6.80%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
25.00%
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%
$8,328,680
Cap Rate 7%
$5,949,057
Cap Rate 9%
$4,627,044
Alternative Uses
Best Use
Specialty Retail
$5.95M
$5.21M – $6.94M
NOI $416,434 @ 7.0% cap · market cap 3.25%
Second Best
Retail
$5.26M
$4.61M – $6.14M
NOI $368,481 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$13.90M
$12.16M – $16.22M
NOI $973,069 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,727
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 Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four connected parcels include retail, apartment, drug store, and vacant land components.
Where is this mixed-use property located?
The property is located at 700 W Broward Boulevard Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $12,800,000.
What are key features of this property?
This property features: 1.93‑acre mixed‑use property in downtown Fort Lauderdale; Four contiguous parcels offered as one assemblage; Existing Walgreens drug store and separate retail store
