Warehouse Condo With
New
For Sale
$885,000
3321 S ANDREWS Avenue #21, Fort Lauderdale, FL 33301
B-3-zoned warehouse unit with office, storage, and upgraded utility features.
Property Size2,000 SF
Days on Market3
Property Features for 3321 S ANDREWS Avenue #21
General Information
Standard status
Active
Size
2,000 SF
Total Parking Spaces
2
Zoning
B-3
Warehouse & Industrial
Drive-In Doors
1
Conditioned Warehouse
Yes
Taxes and HOA fees
Annual Taxes
$8,910
Building Details
Building Size
2,000 SF
Year Built
2004
Buildings
1
Stories
2
Listing Agency:
Florida Market Realtors
(954) 648-8842
Listed By:
Elizabeth Hernandez
(954) 648-8842
Source:
Laerrealty
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 13 at 3:40AM
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 Florida Market Realtors
Investment Insights
Based on property information with market context.
This warehouse condo, built in 2004, combines functional storage and office improvements within a professionally managed complex. The unit includes high ceilings, a 12+ foot electric garage door, separate glass entry, kitchenette with refrigerator, remodeled bathroom, rear emergency exit, epoxy flooring, and a second-floor mezzanine with laminate flooring. The mezzanine provides additional office or storage space, while the unit also features a new air conditioner, alarm system, and weatherproofed and insulated garage access. The property is currently used for personal storage.
The complex is positioned near SR84, Hollywood-Fort Lauderdale International Airport, and major roadways and interstates. The property carries B-3 zoning. The 2026 new roof assessment is paid and completed, and the complex has long-term owners and tenants under off-site management.
The complex is positioned near SR84, Hollywood-Fort Lauderdale International Airport, and major roadways and interstates. The property carries B-3 zoning. The 2026 new roof assessment is paid and completed, and the complex has long-term owners and tenants under off-site management.
Key Highlights
- Warehouse condo with second‑floor mezzanine for office or storage
- 12+ foot weatherproofed and insulated electric garage door
- New air conditioner, alarm system, epoxy floors, and remodeled bathroom
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
$57,456
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
6.49%
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%
$1,149,120
$1.1M
Cap Rate 7%
$820,800
$820.8K
Cap Rate 9%
$638,400
$638.4K
Market Conditions
NOI Build-Up for 2,000 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
$91.2K $45.60/SF
− Vacancy
−$14.6K −$7.30/SF
EGI
$76.6K $38.30/SF
− OpEx
−$19.2K −$9.58/SF
NOI
$57.5K $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%
$1,149,120
Cap Rate 7%
$820,800
Cap Rate 9%
$638,400
Alternative Uses
Best Use
Office B
$820.8K
$718.2K – $957.6K
NOI $57,456 @ 7.0% cap · market cap 6.49%
Second Best
Warehouse
$474.6K
$415.3K – $553.7K
NOI $33,223 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,080 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
942
Businesses Nearby
Well-served
Demand for This Use
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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- CubeSmart Self Storage — 2010 NE 7th Ave, Dania Beach, FL 33004
Frequently Asked Questions
What type of property is this?
Warehouse - B-3-zoned warehouse unit with office, storage, and upgraded utility features.
Where is this warehouse located?
The property is located at 3321 S ANDREWS Avenue #21 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: Warehouse condo with second‑floor mezzanine for office or storage; 12+ foot weatherproofed and insulated electric garage door; New air conditioner, alarm system, epoxy floors, and remodeled bathroom
