Lauderhill Industrial Flex Warehouse
For Sale
$5,200,000
1601 Nw 38th Ave, Lauderhill, FL 33311
Freestanding industrial building, 100% leased, value-add opportunity.
Property Size24,850 SF
Lot Size1.60 Acres
Price / SF$209.26
Days on Market1300
Property Features for 1601 Nw 38th Ave
General Information
Standard status
Active
Size
24,850 SF
Lot size
1.60 Acres
Taxes and HOA fees
Annual Taxes
$48,648
Listing Agency:
Cohen Realty Group
(954) 826-7785
Listed By:
Gamila Y Cohen · License #B26028227
(954) 826-7785
Source:
Exprealty
Added: Jan 20, 2023
Changed: Aug 8
Last Checked: Aug 11 at 12:40PM
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 Cohen Realty Group
Investment Insights
Based on property information with market context.
This freestanding 24,850-square-foot industrial flex warehouse is located in the Lauderhill industrial park on a 1.6-acre corner lot across from UPS. The property is fully leased with a diverse mix of tenants across 9 bays, some of whom have been long-term tenants for over 10 years. The building features a 14-foot clear ceiling height. The property's location is suitable for industrial uses. There is an opportunity for a new owner to increase rents to market value, as current rents are below market value.
Key Highlights
- 100% leased with diverse, long‑term tenants, providing immediate income.
- Opportunity to increase ROI by raising rents to market value.
- Strategic corner location in Lauderhill industrial park, across from UPS.
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
$325,760
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
6.26%
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%
$6,515,200
$6.5M
Cap Rate 7%
$4,653,714
$4.7M
Cap Rate 9%
$3,619,556
$3.6M
Market Conditions
NOI Build-Up for 24,850 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
$405.6K $16.32/SF
− Vacancy
−$22.3K −$0.90/SF
EGI
$383.2K $15.42/SF
− OpEx
−$57.5K −$2.31/SF
NOI
$325.8K $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%
$6,515,200
Cap Rate 7%
$4,653,714
Cap Rate 9%
$3,619,556
Alternative Uses
Best Use
Flex RnD
$7.81M
$6.83M – $9.11M
NOI $546,601 @ 7.0% cap · market cap 10.51%
Second Best
Warehouse
$4.65M
$4.07M – $5.43M
NOI $325,760 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$12.61M
$11.03M – $14.71M
NOI $882,522 @ 7.0% cap · market cap 16.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,012
Businesses Nearby
Under-served
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.
Similar Off Market Nearby
- CHEF COMMIS, LLC — 1631 NW 15th Terrace, Fort Lauderdale, FL 33311
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding industrial building, 100% leased, value-add opportunity.
Where is this flex space located?
The property is located at 1601 Nw 38th Ave Lauderhill, FL.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: 100% leased with diverse, long‑term tenants, providing immediate income.; Opportunity to increase ROI by raising rents to market value.; Strategic corner location in Lauderhill industrial park, across from UPS.
