Grocery Store Feasibility Study in the Miami-Fort Lauderdale-West Palm Beach, FL Metro Area

Miami grocery: south Florida grocers: rank high, share low

For grocery store loans, Miami, Fort Lauderdale and West Palm Beach stands 12 of 412 among areas, while locally grocery store stands 13 of 39. The quotient for location, 0.57x, tells us groceries are a thin slice of this large market's SBA lending, even as the count of loans ranks near the top among areas. From FY2017 to FY2026 there were 66 loans for $61.2 million. A $387,500 median loan in Miami, Fort Lauderdale and West Palm Beach compares at 1.10x with the national grocery store median, while $85,000 to $1.1 million holds the typical grocery store loan.

Miami-area grocers wrote 53 loans on SBA 7(a) paper and 13 on SBA 504 paper. Miami-Dade County has 35 loans, Broward County 25 and Palm Beach County 6. Franchise ownership reads 0.00%. Florida First Capital Finance Corporation, Inc. holds 8 of the 504 loans for $17.5 million, a large dollar figure for that count, and TD Bank, National Association holds 12 7(a) loans for $3.4 million. Lender rows for Miami, Fort Lauderdale and West Palm Beach as SBA’s note of holders, so TD Bank, National Association’s policy in Miami goes unjudged. Holdings, not standards.

Among Miami, Fort Lauderdale and West Palm Beach grocery store approvals, approvals made FY2017 to FY2024 ended cancelled, 15.2% at least, so the real share could be higher. Among Miami, Fort Lauderdale and West Palm Beach grocery store loans, the charged-off rate plus the undisbursed-loan ceiling goes unprinted as the cohort is too small; no zero is implied. In Miami, Fort Lauderdale and West Palm Beach the year rows give 7 loans and $2.6 million in FY2017, 6 and $10.6 million in FY2022, 6 and $704,000 in FY2023, 13 and $10.4 million in FY2024, 7 and $6.3 million in FY2025, and 13 and $17.8 million in FY2026.

Miami grocery: testing a South Florida grocery plan

South Florida needs testing on the household base within each trade area, competing chains and specialty markets, produce and perishables shrink, insurance cost for stock and building, and coverage of debt service. The 504 dollars suggest owned real estate, so the appraisal must hold up. SBA assigns a grocery store loan to the Miami, Fort Lauderdale and West Palm Beach area by project county name match within July 2023 area definitions. No match, no inclusion. These records serve as background to a grocery store plan in Miami, Fort Lauderdale and West Palm Beach, as Daniel Smith, MAI, countersigns it; no outcome is promised.