Fully Occupied Retail Strip
For Sale
$599,900
Ad-2510 Nw 19th St, Fort Lauderdale, FL 33316
Four leased storefronts offer individual bathrooms, air conditioning, and on-site parking along NW 19th Street.
Property Size2,323 SF
Price / SF$258.24
Days on Market36
Property Features for Ad-2510 Nw 19th St
General Information
Standard status
Active
Size
2,323 SF
Total Parking Spaces
9
Occupancy
100%
Net Operating Income
$37,500
Financials
Cap Rate
6.25%
Opportunity Zone
Yes
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,125
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Florida Capital Realty
(954) 389-3604
Listed By:
Patricio Sly · License #3413323
(954) 389-3604
Source:
Exprealty
Added: Jul 10
Changed: Aug 13
Last Checked: Aug 13 at 7:29AM
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 Florida Capital Realty
Investment Insights
Based on property information with market context.
This well-maintained strip center contains 2,323 SF arranged as four leased retail units. Each storefront has a private bathroom and its own air conditioning system, giving occupants separate control of their premises. The property is fully occupied and carries a 6.25% current in-place cap rate. Recent work includes a freshly painted exterior and a newly sealed and striped parking lot.
Positioned on NW 19th Street in Fort Lauderdale, the center provides access to I-95 and includes nine on-site parking spaces. The property is within a federally designated Opportunity Zone, and current rents are below market, creating a documented path for future rental adjustments during lease renewals.
Positioned on NW 19th Street in Fort Lauderdale, the center provides access to I-95 and includes nine on-site parking spaces. The property is within a federally designated Opportunity Zone, and current rents are below market, creating a documented path for future rental adjustments during lease renewals.
Key Highlights
- Fully occupied 4‑unit multi‑tenant retail strip center
- 2,323 SF commercial building with a 6.25% current in‑place cap rate
- Each retail unit includes a private bathroom and individual air conditioning system
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
$41,380
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
6.90%
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%
$827,600
$827.6K
Cap Rate 7%
$591,143
$591.1K
Cap Rate 9%
$459,778
$459.8K
Market Conditions
NOI Build-Up for 2,323 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
$64.1K $27.60/SF
− Vacancy
−$5.0K −$2.15/SF
EGI
$59.1K $25.45/SF
− OpEx
−$17.7K −$7.63/SF
NOI
$41.4K $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%
$827,600
Cap Rate 7%
$591,143
Cap Rate 9%
$459,778
Alternative Uses
Best Use
Retail
$591.1K
$517.3K – $689.7K
NOI $41,380 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,274 @ 7.0% cap · market cap 18.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,496
Businesses Nearby
197k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Shops & Services 27%
Groceries 20%
Hotels & Casinos 13%
Whole Foods Market
Groceries
34,018 visits/mo
0.2 miles
Chevron
Shops & Services
20,681 visits/mo
0.4 miles
Crowne Plaza Ft. Lauderdale Airport/Cruise
Hotels & Casinos
16,210 visits/mo
0.3 miles
Pollo Tropical
Dining
15,052 visits/mo
0.1 miles
Taco Bell
Dining
13,427 visits/mo
0.1 miles
Demographics for 33316, FL
12,669
Population
8,946
Households
1.4
Avg Household Size
50
Median Age
54%
College-Educated
95%
High-School Grad
4.1 sq mi
ZIP Area
3,090
Density / Sq Mi
$89,200
Median Household Income
$52,992
Median Earnings
$2,047
Median Rent
$793,500
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?
Strip mall - Four leased storefronts offer individual bathrooms, air conditioning, and on-site parking along NW 19th Street.
Where is this strip mall located?
The property is located at Ad-2510 Nw 19th St Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Fully occupied 4‑unit multi‑tenant retail strip center; 2,323 SF commercial building with a 6.25% current in‑place cap rate; Each retail unit includes a private bathroom and individual air conditioning system
