Waterfront Furnished Office
For Sale
$1,899,000
Pending
511 SE 5th Ave Unit 103-104, Fort Lauderdale, FL 33301
Two-story workspace includes a floating mezzanine, designer furnishings, and a dedicated kitchen.
Property Size3,967 SF
Days on Market3228
Property Features for 511 SE 5th Ave Unit 103-104
General Information
Standard status
Pending
Size
3,967 SF
Total Parking Spaces
4
Property subtype
General Commercial
Additional Details
Furnished
Yes
Amenities
20-foot ceilings
floating mezzanine
security system
smart ready
pre-wired
Miele kitchen
3
4 Parking Spaces.
Building Details
Year Built
2005
Buildings
1
Stories
2
Listing Agency:
(646) 662-8504
Listed By:
Douglas Elliman
(646) 662-8504
Source:
Xome
Added: Oct 29, 2017
Changed: Aug 11
Last Checked: Jul 31 at 2:15PM
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 Douglas Elliman
Investment Insights
Based on property information with market context.
This two-story waterfront office property offers 3,967 square feet of furnished workspace in a 2005-built building. The layout features 20-foot ceilings, a floating mezzanine over the main floor, a security system, Fantoni designer Italian furniture, and a Miele kitchen. The property is presented with office furnishings and finished interiors in place.
Located at 511 SE 5th Ave Unit 103-104 in Fort Lauderdale, the property includes 4 assigned parking spaces. Its waterfront setting, two-story configuration, and distinctive ceiling volume create a clearly defined office environment with a combination of work areas, elevated mezzanine space, furnishings, and kitchen facilities.
Located at 511 SE 5th Ave Unit 103-104 in Fort Lauderdale, the property includes 4 assigned parking spaces. Its waterfront setting, two-story configuration, and distinctive ceiling volume create a clearly defined office environment with a combination of work areas, elevated mezzanine space, furnishings, and kitchen facilities.
Key Highlights
- 3,967 square feet of two‑story waterfront office space
- 20‑foot ceilings with a floating mezzanine over the main floor
- Fully furnished with Fantoni designer Italian furniture
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
$113,964
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
6.00%
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%
$2,279,280
$2.3M
Cap Rate 7%
$1,628,057
$1.6M
Cap Rate 9%
$1,266,267
$1.3M
Market Conditions
NOI Build-Up for 3,967 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
$180.9K $45.60/SF
− Vacancy
−$28.9K −$7.30/SF
EGI
$152.0K $38.30/SF
− OpEx
−$38.0K −$9.58/SF
NOI
$114.0K $28.73/SF
Area
Fort Lauderdale, FL
Vacancy
16.00%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
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%
$2,279,280
Cap Rate 7%
$1,628,057
Cap Rate 9%
$1,266,267
Alternative Uses
Best Use
Office B
$1.63M
$1.42M – $1.90M
NOI $113,964 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.67M
$2.33M – $3.11M
NOI $186,608 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
9,273
Businesses Nearby
Explore this area
Business Placement
Demographics for 33301, FL
19,109
Population
13,955
Households
1.4
Avg Household Size
42
Median Age
62%
College-Educated
96%
High-School Grad
2.5 sq mi
ZIP Area
7,644
Density / Sq Mi
$115,421
Median Household Income
$76,365
Median Earnings
$2,341
Median Rent
$751,600
Median Home Value
Market
Vacancy Rate% for Office in Fort Lauderdale, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two-story workspace includes a floating mezzanine, designer furnishings, and a dedicated kitchen.
Where is this office units located?
The property is located at 511 SE 5th Ave Unit 103-104 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,899,000.
What are key features of this property?
This property features: 3,967 square feet of two‑story waterfront office space; 20‑foot ceilings with a floating mezzanine over the main floor; Fully furnished with Fantoni designer Italian furniture
