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The Shops at South Middle River 1026-1030 NW 9th Ave 2,700 SF 100% Leased Retail Building Fort Lauderdale, FL 33311 $1,562,850 CAD ($578.83 CAD/SF) 6.76% Cap Rate
Investment Highlights
- Prime Location: In Progresso Village / South Middle River, minutes from Downtown and I-95, with exposure to about 31,500 cars daily.
- Strong Returns: Generates an NOI of $80,459.09 with a 6.5% cap rate from day one.
- Income Growth: Rent increases this December and January 2026 provide immediate and steady revenue growth.
- Fully Leased: Occupied by three tenants—a nail salon, restaurant, and beauty supply store—providing steady income.
- Value-Add Potential: Pro forma income of $106,944 with room to shift to NNN leases for higher returns.
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 roughly 31,500 vehicles per day. The property features 10 parking spaces and a new roof for reliability. Fully occupied by three tenants—a nail salon, restaurant, and beauty supply store—it generates an NOI of $80,459 with a 6.7% cap rate. All tenants have scheduled rent increases—two in January 2026 and one in December this year—creating immediate and continued income growth. With a pro forma GOI of $106,944, this fully leased asset offers stable cash flow and strong upside through rent escalations and potential NNN conversion.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$126,990
|
$47.03
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$126,990
|
$47.03
|
| Taxes |
$11,640
|
$4.31
|
| Operating Expenses |
$6,007
|
$2.22
|
| Total Expenses |
$17,647
|
$6.54
|
| Net Operating Income |
$109,344
|
$40.50
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $126,990 |
| Annual Per SF | $47.03 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $126,990 |
| Annual Per SF | $47.03 |
| Taxes (CAD) | |
|---|---|
| Annual | $11,640 |
| Annual Per SF | $4.31 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $6,007 |
| Annual Per SF | $2.22 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $17,647 |
| Annual Per SF | $6.54 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $109,344 |
| Annual Per SF | $40.50 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,700 SF
Building Class
C
Year Built
1962
Price
$1,562,850 CAD
Price Per SF
$578.83 CAD
Cap Rate
6.76%
NOI
$105,683 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.41
Lot Size
0.15 AC
Opportunity Zone
Yes
Zoning
B-1 - Retail
Parking
10 Spaces (3.7 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Beverage, Inc.
- -
- -
- -
- Triple Net
- -
- Fancy Nails
- -
- -
- -
- Plus Utilities
- -
- Frienly Discount Beauty Supply Inc
- Wholesaler
- -
- -
- Modified Gross
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Beverage, Inc. | - | - | - | Triple Net | - | |
| Fancy Nails | - | - | - | Plus Utilities | - | |
| Frienly Discount Beauty Supply Inc | Wholesaler | - | - | Modified Gross | - |
Walk Score®
Very Walkable (80)
Nearby Major Retailers
Property Taxes
| Parcel Number | 49-42-34-05-1790 | Total Assessment | $795,392 CAD (2026) |
| Land Assessment | $138,494 CAD (2026) | Annual Taxes | $11,640 CAD ($4.31 CAD/SF) |
| Improvements Assessment | $656,899 CAD (2026) | Tax Year | 2024 |
Property Taxes
Parcel Number
49-42-34-05-1790
Land Assessment
$138,494 CAD (2026)
Improvements Assessment
$656,899 CAD (2026)
Total Assessment
$795,392 CAD (2026)
Annual Taxes
$11,640 CAD ($4.31 CAD/SF)
Tax Year
2024
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The Shops at South Middle River | 1026-1030 NW 9th Ave
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