Spacious Warehouse with Covered
For Sale
Contact for pricing
1040 NE 44th Street, Oakland Park, FL 33334
4,492 SF warehouse with covered area and convenient access.
Property Size4,492 SF
Price / SF$311.67
Days on Market1220
Property Features for 1040 NE 44th Street
General Information
Standard status
Active
Size
4,492 SF
Property subtype
Industrial
Zoning
I-1
Building Details
Year Built
1963
Listing Agency:
COMPASS FLORIDA LLC
(954) 609-7111
Listed By:
Ashley Joy Lawrence · License #3314161
Source:
Crexi
Added: Apr 21, 2023
Changed: Aug 8
Last Checked: Aug 8 at 4:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COMPASS FLORIDA LLC
Investment Insights
Based on property information with market context.
This 4,492-square-foot warehouse features a 40' x 34' covered area with alley access and a 52' x 10' covered section for parking. Constructed with CBS and a concrete roof, the property is zoned for light industrial use, offering potential for various business applications. The warehouse includes a private, air-conditioned office, two restrooms, a storage room, and mezzanine storage space. It also features 3 roll-up doors and a clear ceiling height of 13' 8''. The location provides convenient access to I-95 and N Dixie Hwy.
Key Highlights
- 4,492 sq ft warehouse with light industrial zoning
- Prime location with easy access to I‑95 and N Dixie Hwy
- Features a 40' x 34' covered area with alley access and a 52' x 10' covered parking section
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
$58,886
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
4.21%
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%
$1,177,720
$1.2M
Cap Rate 7%
$841,229
$841.2K
Cap Rate 9%
$654,289
$654.3K
Market Conditions
NOI Build-Up for 4,492 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
$73.3K $16.32/SF
− Vacancy
−$4.0K −$0.90/SF
EGI
$69.3K $15.42/SF
− OpEx
−$10.4K −$2.31/SF
NOI
$58.9K $13.11/SF
Area
Broward County, FL
Vacancy
5.50%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
15.00%
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%
$1,177,720
Cap Rate 7%
$841,229
Cap Rate 9%
$654,289
Alternative Uses
Best Use
Warehouse
$841.2K
$736.1K – $981.4K
NOI $58,886 @ 7.0% cap · market cap 4.21%
Second Best
Industrial
$692.8K
$606.2K – $808.2K
NOI $48,494 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,529 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,719
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33334, FL
30,138
Population
14,314
Households
2.1
Avg Household Size
44
Median Age
33%
College-Educated
88%
High-School Grad
4.8 sq mi
ZIP Area
6,279
Density / Sq Mi
$69,512
Median Household Income
$36,895
Median Earnings
$1,615
Median Rent
$430,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 4,492 SF warehouse with covered area and convenient access.
Where is this warehouse located?
The property is located at 1040 NE 44th Street Oakland Park, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 4,492 sq ft warehouse with light industrial zoning; Prime location with easy access to I‑95 and N Dixie Hwy; Features a 40' x 34' covered area with alley access and a 52' x 10' covered parking section
