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    3249 SW 42Nd St Fort Lauderdale, FL 33312

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    For Lease
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    High-quality industrial space with exceptional access to transportation corridors.

    Building Details

    Year built
    1998

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    Listing Contact
    Chad Korodaj
    Chad Korodaj
    Source: Lee-associates

    Listing Agency: Lee & Associates | Broward/Palm Beach Listing Agent: Chad Korodaj

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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    Overview

    Port 95 Industrial Sublease Opportunity

    This industrial space, totaling approximately 24,889 square feet, is available for sublease at Prologis Port 95. The property features a 24-foot clear ceiling height, nine dock-high loading positions, and one ramp. Column spacing is 40 feet by 40 feet, and the truck court measures 175 feet. An ESFR sprinkler system is in place. The location provides immediate access to I-95, I-595, and Florida's Turnpike. Part of Broward County’s leading industrial business parks, Prologis Port 95 totals over 2.0 million square feet of warehouse and distribution facilities. The property is strategically located with immediate access to I-95, I-595, Florida's Turnpike, and State Road 84, and is 5 minutes from Fort Lauderdale-Hollywood International Airport and Port Everglades. This space is suited for Aviation/Aerospace, Marine, Technology, and Advanced Manufacturing companies.
    Location Intelligence

    Current Use by Public Records

    Baring Industries Big Box & Wholesale Store

    Suggested Use

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

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

    Similar Places Nearby

    A On Time Moving, International Cold Storage, Space Shop Self Storage, On The Go Relocation Services, V & L Enterprises

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1910214
    Latitude
    26.1786621

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    FAQs

    What type of property is this?
    Warehouse - High-quality industrial space with exceptional access to transportation corridors.
    Where is this warehouse located?
    The property is located at 3249 SW 42Nd St Fort Lauderdale, FL.
    What are key features of this property?
    This property features: - Prime location with immediate access to I-95, I-595, Florida's Turnpike, and State Road 84.; - Proximity to Fort Lauderdale-Hollywood International Airport and Port Everglades (5 minutes).; - Located in Prologis Port 95, a premier Broward County industrial park with over 2 million sq. ft.
    (720) 352-4582
    Request Owner's contact information
    3249 SW 42Nd St Fort Lauderdale, FL 33312
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    Fort Lauderdale, FL 33312
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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
    3249 SW 42Nd St Fort Lauderdale, FL 33312
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    We can help!
    Listing Contact
    Chad Korodaj
    Chad Korodaj
    Real Estate License ID: SL3625962 (FL)
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