Two-Story Commercial
For Sale
Under Contract
$975,000
1021 NW 1st Street, Fort Lauderdale, FL 33311
COMMERCIAL - Fort Lauderdale, FL
Property Size2,504 SF
Lot Size0.16 Acres
Price / SF$389.38
Days on Market1179
Property Features for 1021 NW 1st Street
General Information
Property type
Commercial Sale
Property subtype
Other
Fencing
Fenced
Directions
From 95, tale Broward blvd east to SW 11 Ave, make a left/north, one block to NE 1 St. Two story building on North side of NW 1st St
Subdivision
3470
Standard status
Active Under Contract
APN
504204010370
Size
2,504 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2021
Tax Description
SEMINOLE ADD F R OLIVERS AMEN PLAT 1-88 D LOT 11 BLK 204
Tax Annual Amount
10700
Legal Description
SEMINOLE ADD F R OLIVERS AMEN PLAT 1-88 D LOT 11 BLK 204
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1957
Floors in Building
2
Building materials
Block
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Amy McGrotty · License #3418995
(954) 347-1732
Added: May 23, 2023
Changed: Aug 4
Last Checked: Aug 13 at 12:06AM
MLS# F10382163
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story commercial building is offered for sale on a downtown lot of approximately 0.16 acres. The property totals 2,504 square feet and is zoned B-3. Permissible uses are referenced in the attached information.
The building is located about one block off Broward Blvd, with access to highways and proximity to downtown, FLL international airport, Flagler, Progresso, and FAT Village.
The site is also identified as being in NPF-CRA and Opportunity Zone. The listing notes CRA improvement funds may be available for a buyer to build out to suit their needs, as others are doing in the downtown corridor.
The building is located about one block off Broward Blvd, with access to highways and proximity to downtown, FLL international airport, Flagler, Progresso, and FAT Village.
The site is also identified as being in NPF-CRA and Opportunity Zone. The listing notes CRA improvement funds may be available for a buyer to build out to suit their needs, as others are doing in the downtown corridor.
Key Highlights
- Prime downtown Fort Lauderdale location, just one block from Broward Blvd.
- B‑3 zoning allows for a wide range of commercial uses (see attachments).
- Located in NPF‑CRA and Opportunity Zone, offering potential financial incentives.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,637
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$772,740
$772.7K
Cap Rate 7%
$551,957
$552.0K
Cap Rate 9%
$429,300
$429.3K
Market Conditions
NOI Build-Up for 2,504 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$63.1K $25.20/SF
− Vacancy
−$3.7K −$1.46/SF
EGI
$59.4K $23.74/SF
− OpEx
−$20.8K −$8.31/SF
NOI
$38.6K $15.43/SF
Area
Fort Lauderdale, FL
Vacancy
5.80%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$772,740
Cap Rate 7%
$551,957
Cap Rate 9%
$429,300
Alternative Uses
Best Use
Flex RnD
$552.0K
$483.0K – $644.0K
NOI $38,637 @ 7.0% cap · market cap 3.96%
Second Best
Industrial
$516.5K
$452.0K – $602.6K
NOI $36,157 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,788 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,270
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Two-story commercial building on a downtown lot, zoned B-3 and within NPF-CRA and Opportunity Zone.
Where is this flex space located?
The property is located at 1021 NW 1st Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Prime downtown Fort Lauderdale location, just one block from Broward Blvd.; B‑3 zoning allows for a wide range of commercial uses (see attachments).; Located in NPF‑CRA and Opportunity Zone, offering potential financial incentives.
