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    Property profile & analytics

    6702-6852 University Dr Tamarac, FL 33321

    • Lifestyle centers
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 6702-6852 University Dr

    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    University Commons offers exceptional retail space in the thriving Tamarac, Florida market. This Class A shopping center, located at 6702-6852 N University Dr, 33321, boasts a highly visible location at the intersection of University Drive and McNabb Road, ensuring maximum exposure for your business. The property is a multi-tenant shopping center featuring a mix of national chains, medical offices, and local businesses, creating a vibrant and diverse commercial environment. Two spaces are currently available, offering flexible sizes ranging from 1,200 to 1,600 square feet, perfect for a variety of retail concepts. The property's strategic location in Broward County provides easy access for residents of Tamarac and surrounding areas. This is an excellent opportunity to establish or expand your business within a well-established and successful shopping center, benefiting from the existing high foot traffic and strong community presence. The property is categorized as a Grocery Store and Shopping Center, offering a diverse range of potential tenants and synergistic business opportunities. The precise total building square footage is currently unavailable. This prime retail space presents a compelling investment opportunity in a dynamic and growing market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Tamarac
    County
    Broward
    State
    Florida
    Longitude
    -80.2537
    Latitude
    26.2072

    Comparable in this City

    • Value Estimation
      $29,810,000
      94,824 SF

      6921 88th Ave, Unit 7251

      MINI-MALL • 94,824 SF
      6921 88th Ave, Tamarac, FL 33321-3221
      View Details
    • Value Estimation
      $36,425,000
      229,695 SF

      5701 University Dr, Unit 5881

      MINI-MALL • 229,695 SF
      5701 University Dr, Tamarac, FL 33321-4635
      View Details
    • Value Estimation
      $24,860,000
      105,012 SF

      10000 Mcnab Rd, Unit 10098

      MINI-MALL • 105,012 SF
      10000 Mcnab Rd, Tamarac, FL 33321-1815
      View Details
    • Value Estimation
      $21,260,000
      76,208 SF

      7050 University Dr, Unit 7116

      SHOPPING CENTER, STRIP CENTER • 76,208 SF
      7050 University Dr, Tamarac, FL 33321-2918
      View Details
    • Value Estimation
      $8,445,000
      42,882 SF

      6931 88th Ave

      GROCERY, SUPERMARKET • 42,882 SF
      6931 88th Ave, Tamarac, FL 33321-3221
      View Details
    • Value Estimation
      $8,070,000
      58,200 SF

      7015 University Dr

      GROCERY, SUPERMARKET • 58,200 SF
      7015 University Dr, Tamarac, FL 33321-2917
      View Details

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      Renovated Retail or Office Space

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    Similar Nearby for Lease

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      2,800 SF

      University Commons Retail Spaces

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      6702-6852 University Dr, Tamarac, FL 33321
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    • Contact for pricing
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    • $19 SF/Yr
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      Tamarac Office Space For Lease

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    • $19 SF/Yr
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      Tamarac Retail Space For Lease

      Prime Tamarac location, 1200 sq ft retail space.
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    • $18 SF/Yr

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      28,842 SF retail center with high visibility.
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    • Contact for pricing

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      Shared Lease: Flexible Worship Space
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    Tamarac, FL 33321
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    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
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