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1026-1030 NW 9th Ave
Fort Lauderdale, FL 33311
Retail Property For Sale
Investment Highlights
- Fully Occupied Retail Asset: Three established tenants provide immediate and stable cash flow.
- Built-In Rental Growth: Annual rent increases support continued income expansion.
- High-Traffic Commercial Corridor: Excellent visibility with approximately 31,500 vehicles passing daily.
- Strong In-Place Returns: Generating approximately $80,459 in NOI with a going-in cap rate near 8%
- Value-Add Opportunity: Potential to increase returns through conversion to a NNN lease structure.
- Recent Property Improvements: New roof and 10 dedicated parking spaces support long-term operations.**
Executive Summary
Located in the Progresso Village / South Middle River area of Fort Lauderdale, just minutes from Downtown and I-95, this 2,700 SF commercial property at 1026 NW 9th Ave offers excellent exposure along a high-traffic corridor with approximately 31,500 vehicles per day. The property features 10 dedicated parking spaces and a new roof that ensures long-term reliability. It is currently occupied by three tenants—a nail salon, a restaurant, and a beauty supply store—on month-to-month leases, generating an NOI of 80,459 and offering a turnkey investment with a going-in cap rate of almost 8% from day one of ownership. The leases include annual rent increases, providing amazing and stable income. With a pro forma GOI of $106,944, it presents an attractive opportunity to convert to a NNN lease structure to capture additional upside!
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,719 SF
Building Class
C
Year Built
1962
Price
$1,050,000
Price Per SF
$386.17
Cap Rate
7.66%
NOI
$80,459
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.40
Lot Size
0.16 AC
Opportunity Zone
Yes
Zoning
B-1 - Retail
Parking
10 Spaces (3.7 Spaces per 1,000 SF Leased)
Frontage
56’ on NW 9th Ave
Amenities
- Bus Line
Property Taxes
| Parcel Number | 49-42-34-05-1790 | Improvements Assessment | $480,340 |
| Land Assessment | $135,020 | Total Assessment | $615,360 |
Property Taxes
Parcel Number
49-42-34-05-1790
Land Assessment
$135,020
Improvements Assessment
$480,340
Total Assessment
$615,360
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