Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2922 N State Rd 7 Margate, FL 33063

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    20,714 SF shopping center on 1.32-acre lot.

    Type:Retail
    Property size:
    20,714 SF
    Lot size:
    1.32 Acres
    Added:
    Nov 20, 2024
    Days on Market:
    516
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 2922 N State Rd 7

    General Information

    Standard status
    Active
    Size
    20,714 SF
    Lot size
    1.32 Acres
    Property subtype
    Retail

    We can help!

    Listing Contact
    John DeMarco

    Listing agent John DeMarco License #BK3134747

    Listing office RE/MAX 5 Star Realty

    Listing date Nov 20, 2024

    Source Crexi

    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 RE/MAX 5 Star Realty

    Overview

    20,714 SF Shopping Center ForSale

    This commercial property is a 20,714 square foot shopping center situated on a 1.32-acre lot. The property includes 65 parking spaces and features a total of 12 units. Currently, the property is 49.31% occupied by four tenants. Approximately 10,500 square feet of space is available, offering potential for an owner-user or additional lease-up opportunities. This property is positioned as an investment opportunity.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Similar Places Nearby

    • Cocogate Plaza — 5109 Coconut Creek Pkwy, Margate, FL 33063
    • Marget Plaza — Pompano Beach, FL 33063
    • Crossroads — 5000 Coconut Creek Pkwy, Margate, FL 33063
    • Village Plaza — 1360-1454 FL-7, Margate, FL 33063
    • Coconuts Flea Market — 5259 Coconut Creek Pkwy, Margate, FL 33063

    Map

    City
    Margate
    County
    Broward
    State
    Florida
    Longitude
    -80.2096
    Latitude
    26.252

    Nearby Similar for Sale

    • $2,100,000
      7,200 SF

      Margate Office/Warehouse Condo Units

      Pristine office/warehouse complex with four condo units for sale.
      5453 NW 24 Street, Margate, FL 33063
      View Details
    • $2,950,000
      7,860 SF

      Margate Retail Building Investment Opportunity

      Freestanding 8-unit retail building on a 0.53-acre corner lot.
      401 N State Rd 7, Margate, FL
      View Details
    • $1,189,000

      Margate Storefront/Retail Space For Sale

      Prime location with high traffic, flexible space, and warehouse.
      525 N State Road 7, Margate, FL 33063
      View Details
    • $32
      3,270 SF

      Two-Story Office Building with Elevator

      Spacious office building with elevator near major roads.
      513 N State 7 Road, Margate, FL 33063
      View Details
    • $179,000
      123,448 SF

      Established Restaurant in Busy Plaza

      Profitable restaurant with loyal clientele in prime location.
      7210 W Atlantic Boulevard, Margate, FL 33063
      View Details
    • $1,740,000
      3,270 SF

      Two-Story Office Building with Elevator

      Spacious office building with elevator for sale or lease.
      513 N State 7 Road, Margate, FL 33063
      View Details
    • $349,000
      1,030 SF

      Margate Warehouse in Prime Location

      1,030 sq ft warehouse condo in high-demand North Broward.
      5415 NW 15 Street, Margate, FL
      View Details
    • $150,000

      Established Fabrication Business Opportunity

      Profitable fabrication business serving home improvement and remodeling market.
      5301 NW 15 ST, Margate, FL 33063
      View Details
    • $129,900
      1,100 SF

      Penthouse with Water Views

      Two-bedroom penthouse with water views and community amenities.
      7320 Lake Circle Drive 407, Margate, FL 33063
      View Details
    • $1,367,500
      700 SF

      Retail/Office Condo in Plaza Americas

      Spacious retail/office condo in high-traffic area, easily divisible.
      100 N State Rd 7, Margate, FL
      View Details
    • $1,900,000

      Turnkey Asian Restaurant For Sale

      Turnkey Asian restaurant with recent renovations, seating inside and outside.
      1821 N State Road 7, MARGATE, FL, 33063-5707
      View Details
    • $4,000,000
      11,169 SF

      Freestanding CVS Pharmacy For Sale

      Absolute Net Leased CVS Pharmacy in Margate, Florida.
      255 S State Rd 7, Margate, FL 33068
      View Details

    FAQs

    What type of property is this?
    Shopping center - 20,714 SF shopping center on 1.32-acre lot.
    Where is this shopping center located?
    The property is located at 2922 N State Rd 7 Margate, FL.
    What is the asking price?
    The asking price for this property is $7,250,000.
    What are key features of this property?
    This property features: Prime investment property in a desirable location; Substantial 20,714 SF building on a 1.32‑acre lot; Ample parking with 65 spaces
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    John DeMarco
    Real Estate License ID: BK3134747
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!