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    2692 University Dr Sunrise, FL 33322-2496
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    Property profile & analytics

    2692 University Dr, Sunrise, FL 33322-2496

    View on Map
    • Retail space
    • 11,707 SF
    • 0.74 lot acres
    Off-Market
    Property ID
    US18-5104646
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,665,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 2692 University Dr

    Year built
    1976
    Construction
    CONCRETE
    Lot size
    0.74 lot acres
    Zone code
    B-3
    Property type
    Retail space
    APN
    49-41-28-11-0900
    APU
    494128110900

    Description

    Sunrise Lakes Plaza, located at 2692 N University Dr in Sunrise, Florida (33322), presents a compelling investment opportunity. This 11,707 square foot Class C retail strip center, built in 1976, sits on a 0.75-acre lot and offers ample parking with 36 spaces. Currently featuring multiple tenancies, one 900 square foot retail space is immediately available, making it ideal for expansion or a new business venture. The property's location in Broward County provides excellent visibility and accessibility, benefiting from high traffic counts on N University Drive. The center's existing infrastructure provides a solid foundation for a variety of retail uses. The property's age presents an opportunity for renovation and modernization to enhance its appeal and increase its market value. This is a chance to acquire a well-situated retail property in a thriving Florida market. The property's size and existing infrastructure offer flexibility for a range of retail businesses. The available space provides an immediate opportunity for occupancy, minimizing vacancy periods and maximizing return on investment. Serious inquiries are encouraged to explore this promising retail investment. The property's location in a busy commercial area ensures high visibility and foot traffic, contributing to a strong potential for business success.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Sunrise
    County
    Broward
    State
    Florida
    Longitude
    -80.2568
    Latitude
    26.1572
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $35,440
    $490,620
    $1,034,300
    $1,524,920
    -
    $490,620
    $1,034,300
    $1,524,920

    Comparable in this City

    • Value Estimation
      $1,510,000
      9,684 SF

      2074 University Dr, Unit 2100

      RETAIL STORES (PERSONAL SERVICES)
      2074 University Dr, Sunrise, FL 33322-3937
      View Details
    • Value Estimation
      $3,225,000
      19,389 SF

      2800 University Dr, Unit 2834

      RETAIL STORES (PERSONAL SERVICES)
      2800 University Dr, Sunrise, FL 33322-2450
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    • Value Estimation
      $1,685,000
      7,472 SF

      3001 University Dr

      RETAIL STORES (PERSONAL SERVICES)
      3001 University Dr, Sunrise, FL 33322-1610
      View Details
    • Value Estimation
      $1,745,000
      2,573 SF

      2601 University Dr

      RETAIL STORES (PERSONAL SERVICES)
      2601 University Dr, Sunrise, FL 33322-2432
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    • Value Estimation
      $2,080,000
      12,634 SF

      2100 University Dr, Unit 2128

      RETAIL STORES (PERSONAL SERVICES)
      2100 University Dr, Sunrise, FL 33322-3939
      View Details
    • Value Estimation
      $11,810,000
      8,568 SF

      1723-1725 University Dr

      RETAIL STORES (PERSONAL SERVICES)
      1723-1725 University Dr, Plantation, FL 33322
      View Details

    Similar Nearby for Sale

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      Upholstery Business Opportunity For Sale

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      Plantation Retail Shopping Plaza ForSale

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      Retail Plaza in Plantation, Florida

      Retail shopping plaza in a high-traffic Plantation location.
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      Sunrise Retail Investment Opportunity

      High-traffic retail building, excellent location.
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    Similar Nearby for Lease

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      Sunrise Commercial Land For Lease

      Commercial land available for lease in Sunrise, Florida.
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      Retail Space in Sun Plaza

      Retail space for lease in Broward County shopping center.
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      900 SF

      Retail Space Available For Rent

      900 square feet retail space available for lease.
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      Retail Space in Plantation Plaza

      Retail space for lease in Broward County shopping center.
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    • $18 SF/Yr

      Sunrise, FL Commercial Opportunity

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    Sunrise, FL 33322-2496
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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.

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