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    Fort Lauderdale Commercial Building For Sale Title is generated by Realmo AI

    1021 NW 1st Street, Fort Lauderdale, FL 33311

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    Claim this Listing
    For Sale
    Under Contract
    $975,000

    COMMERCIAL - Fort Lauderdale, FL

    Property size:
    2,504 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $389/SF
    Added:
    May 23, 2023
    Days on Market:
    1103
    Last Refresh:
    May 29 at 7:06 pm

    Property Features for 1021 NW 1st Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Fencing
    Fenced
    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

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1957
    Floors in Building
    2
    Building materials
    Block

    We can help!

    Listing Contact
    Amy McGrotty
    Amy McGrotty

    Listing agent Amy McGrotty License #3418995

    Listing office EXP Realty LLC 10752 Deerwood Park Blvd #100, Tampa, FL

    Listing date May 23, 2023

    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.

    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.
    • CRA improvement funds available to build out the property.
    • 7,000 sq ft lot with a 2‑story commercial building.
    • Convenient access to highways, airport, and key districts (Flagler, Progresso, FAT Village).

    Overview

    Located one block from Broward Blvd in Fort Lauderdale, this two-story commercial building is situated on a 7,000 square foot lot. The property, zoned B-3, has not been on the market since 1980. Its location offers convenient access to highways, downtown, Fort Lauderdale-Hollywood International Airport, Flagler, Progresso, and FAT Village. The property is located close to the epicenter of Fort Lauderdale. The 2,504 square foot building is suitable for tradespeople, startups, breweries, and other businesses. The property is located in the Northwest Progresso Flagler Community Redevelopment Agency (NPF-CRA) and an Opportunity Zone. CRA improvement funds are available to build out the property to suit specific needs.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $114.2k $45.60
    − Vacancy −$18.3k −$7.30
    EGI $95.9k $38.30
    − OpEx −$24.0k −$9.58
    NOI $71.9k $28.73
    2,504 SF · lease $45.60/SF/yr · vacancy 16.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.03M
    $899.2K – $1.20M (±1% cap)
    NOI $71,935 @ 7.0% cap · market cap 7.38%
    Second Best
    Retail
    $637.2K
    $557.6K – $743.4K (±1% cap)
    NOI $44,604 @ 7.0% cap · market cap 4.57%
    Theoretical Best
    Office A
    $1.68M
    $1.47M – $1.96M (±1% cap)
    NOI $117,788 @ 7.0% cap · market cap 12.08%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Breweries

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Law Firm Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.155791
    Latitude
    26.123156

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    FAQs

    What type of property is this?
    Mixed-use property - Two-story commercial building in downtown Fort Lauderdale, great location.
    Where is this mixed-use property 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.
    (954) 347-1732
    We can help!
    Listing Contact
    Amy McGrotty
    Amy McGrotty
    Real Estate License ID: 3418995
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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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