New Retail Strip Center For
3920 Prospect Rd Fort Lauderdale, FL 33319
3920 Prospect Rd, Fort Lauderdale, FL, 33319
Contact for pricing
For Sale
Contact for pricing
New construction retail strip center with drive-thru in Fort Lauderdale.
Property Size6,825 SF
Lot Size0.95 Acres
Price / SF$511.36
Days on Market620
Property Features for 3920 Prospect Rd
General Information
- Standard status
- Active
- Size
- 6,825 SF
- Lot size
- 0.95 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 2024
Listing Agency
Marcus & Millichap
(786) 306-7259
Listed by
Jonathan De La Rosa · License #SL3639184
Source
Crexi
Added: Nov 4, 2024 Checked: Jul 15 at 10:13 am
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
Investment Insights
Based on property information with market context.
This new construction retail strip center is located at 3920 Prospect Road in North Lauderdale, Florida, within the Fort Lauderdale MSA. The property features a 6,825-square-foot, four-tenant building with an end-cap drive-thru, situated on a 41,329-square-foot lot. The center is currently occupied by Cali Coffee, LaundroMart, a barber shop, and a master lease. Located off the corner of US Highway 441 and Prospect Road, the property benefits from high traffic volume, with over 65,000 vehicles per day. It is also situated within one mile of the Fort Lauderdale Executive Airport, which records over 160,000 annual flights. The property offers visibility and multiple access points. Constructed in 2024, the center features curb appeal, no deferred maintenance, and NNN leases. The building includes 18 feet of clear height, hurricane-resistant windows, and a Twin T concrete roof. The drive-thru component, along with the neighboring Murphy USA Gas Station, ensures a continuous flow of traffic throughout the center.
Key Highlights
- New construction (2024) NNN strip center with strong tenants.
- Located on the corner of US Highway 441 and Prospect Road with high traffic volume (65,000+ vehicles per day).
- End‑cap drive‑thru and proximity to a Murphy USA gas station ensure consistent traffic flow.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $196.6k | $28.80 |
| − Vacancy | −$13.4k | −$1.96 |
| EGI | $183.2k | $26.84 |
| − OpEx | −$45.8k | −$6.71 |
| NOI | $137.4k | $20.13 |
6,825 SF · lease $28.80/SF/yr · vacancy 6.80% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.96M
$1.72M – $2.29M
NOI $137,395 @ 7.0% cap · market cap 3.94%
Second Best
Retail
$1.74M
$1.52M – $2.03M
NOI $121,574 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$4.59M
$4.01M – $5.35M
NOI $321,048 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Cali Coffee
Cafe & Coffee Shop
Similar For Sale Nearby
FAQs
What type of property is this?
Strip mall - New construction retail strip center with drive-thru in Fort Lauderdale.
Where is this strip mall located?
The property is located at 3920 Prospect Rd Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $3,490,000.
What are key features of this property?
This property features: New construction (2024) NNN strip center with strong tenants.; Located on the corner of US Highway 441 and Prospect Road with high traffic volume (65,000+ vehicles per day).; End‑cap drive‑thru and proximity to a Murphy USA gas station ensure consistent traffic flow.
