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    1612 NW 38th Avenue Fort Lauderdale, FL 33311

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    For Sale
    $4,999,999

    COMMERCIAL - Fort Lauderdale, FL

    Property size:
    20,000 SF
    Lot size:
    1.19 Acres
    Added:
    Feb 28, 2025
    Days on Market:
    413
    Last Refresh:
    Apr 17 at 11:06 am

    Property Features for 1612 NW 38th Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    CW
    Parking features
    Guest
    Standard status
    Active
    APN
    494231240020
    Size
    20,000 SF
    Lot size
    1.19 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    INDUSTRIAL 100 UNIT 2 85-2B PT OF TR D DESC AS;COMM AT NW COR TR E,W 40 ALG S/R/W/L OF CANAL TO POB,CONT W 32.36,S 203.30,W 204.01 TO PT ON
    Tax Annual Amount
    55343

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1981
    Floors in Building
    1
    Building materials
    Block, CBS

    We can help!

    Listing Contact
    Itshak M Mor-Yossef

    Listing agent Itshak M Mor-Yossef License #3026619

    Listing office G & E Realty Group, Inc 3325 S University Dr #201, Cooper City, FL

    Listing date Feb 28, 2025

    MLS# F10489554

    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.

    Overview

    Fort Lauderdale Warehouse on Large Lot

    This commercial property in Fort Lauderdale, Florida, features a warehouse with over 20000 square feet of space, situated on a 1.19-acre (51000 square foot) lot. The property is located in Lauderhill, next to a UPS facility. The zoning is CW. Only one unit is currently vacant.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Eglise Tabernacle de ... Church Eglise Tabernacle de ... Church Kayl hart llc Electronics & Wireless Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Storage Post — Lauderhill, FL 33313
    • Nearby Storage Units - Lauderhill, FL — 3291 fl-838, lauderhill, fl 33311
    • Armor Self Storage Unit — 3291 W Sunrise Blvd, Fort Lauderdale, FL 33311
    • Extra Space Storage — 4551 W Sunrise Blvd, Plantation, FL 33313
    • Extra Space Storage — 3901 W Sunrise Blvd, Fort Lauderdale, FL 33311

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.199317
    Latitude
    26.146573

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    FAQs

    What type of property is this?
    Warehouse - Warehouse with large lot in Fort Lauderdale near UPS.
    Where is this warehouse located?
    The property is located at 1612 NW 38th Avenue Fort Lauderdale, FL.
    What is the asking price?
    The asking price for this property is $4,999,999.
    What are key features of this property?
    This property features: Large 20,000+ sq ft warehouse space.; Substantial 51,000 sq ft lot size.; Prime location in Lauderhill next to UPS.
    (954) 682-5599
    We can help!
    Listing Contact
    Itshak M Mor-Yossef
    Real Estate License ID: 3026619
    Learn More
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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.

    More about this property
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