Corner Storefront on Commercial
For Sale
Contact for pricing
3007 W Commercial Blvd, Fort Lauderdale, FL 33309
First floor storefront suitable for retail or restaurant use.
Property Size1,000 SF
Price / SF$379
Days on Market634
Property Features for 3007 W Commercial Blvd
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Office, Retail
Zoning
B1
Building Details
Buildings
1
Units
1
Listing Agency:
Total R E Consultants Inc
Listed By:
Joe Pelayo, CCIM, SIOR, CIPS · License #3005451
Source:
Crexi
Added: Dec 4, 2024
Changed: Aug 23
Last Checked: Aug 29 at 1:52AM
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 Total R E Consultants Inc
Investment Insights
Based on property information with market context.
A first-floor corner storefront is available for purchase. The unit fronts Commercial Boulevard, which experiences an annual average daily traffic count of 55,000 vehicles. Zoned B-1, the unit is suitable for a variety of businesses, including retail storefronts. The current layout is set up as a restaurant/café but can be reconfigured. Other businesses in the building include a law office and a beauty supply store. Parking is available in the front and rear of the building. The property is located minutes from Fort Lauderdale Executive Airport and is closely located to I-95 and Florida’s Turnpike, providing accessibility for customers and employees. The property is being sold in as-is condition.
Key Highlights
- First floor corner storefront space.
- High traffic location: 55,000 vehicles daily on Commercial Blvd.
- B‑1 zoning suitable for various businesses, including retail.
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
$17,813
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
4.70%
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%
$356,260
$356.3K
Cap Rate 7%
$254,471
$254.5K
Cap Rate 9%
$197,922
$197.9K
Market Conditions
NOI Build-Up for 1,000 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
$27.6K $27.60/SF
− Vacancy
−$2.2K −$2.15/SF
EGI
$25.4K $25.45/SF
− OpEx
−$7.6K −$7.63/SF
NOI
$17.8K $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%
$356,260
Cap Rate 7%
$254,471
Cap Rate 9%
$197,922
Alternative Uses
Best Use
Retail
$254.5K
$222.7K – $296.9K
NOI $17,813 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$672.0K
$588.0K – $784.0K
NOI $47,040 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,649
Businesses Nearby
83k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Dining 37%
Groceries 21%
Hotels & Casinos 2%
Winn-Dixie
Groceries
17,448 visits/mo
0.3 miles
Wendy's
Dining
14,912 visits/mo
0.5 miles
Pollo Tropical
Dining
13,113 visits/mo
0.2 miles
Mobil
Shops & Services
8,740 visits/mo
0.2 miles
Chevron
Shops & Services
8,018 visits/mo
0.2 miles
Demographics for 33309, FL
37,642
Population
14,783
Households
2.5
Avg Household Size
39
Median Age
23%
College-Educated
85%
High-School Grad
9.7 sq mi
ZIP Area
3,881
Density / Sq Mi
$73,496
Median Household Income
$35,850
Median Earnings
$1,829
Median Rent
$309,100
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?
Storefront property - First floor storefront suitable for retail or restaurant use.
Where is this storefront property located?
The property is located at 3007 W Commercial Blvd Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: First floor corner storefront space.; High traffic location: **55,000 vehicles daily on Commercial Blvd.**; B‑1 zoning suitable for various businesses, including retail.
