Air-Conditioned Warehouse with
For Sale
$1,150,000
2960 SW 23rd Ter Unit 107 & 10, Fort Lauderdale, FL 33312
The open bay includes climate control, polished concrete, an office, and two restrooms.
Property Size3,000 SF
Price / SF$383.33
Days on Market1162
Property Features for 2960 SW 23rd Ter Unit 107 & 10
General Information
Standard status
Active
Size
3,000 SF
Property subtype
General Commercial
Zoning
IROM-AA
Warehouse & Industrial
Clear Height
15.8 ft
Warehouse Space
3,000 SF
Conditioned Warehouse
Yes
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$11,352
Amenities
3
4 Parking Spaces.
3000
Building Details
Year Built
2013
Stories
1
Listing Agency:
United Realty Group Inc
(954) 288-4433
Listed By:
Cody Oberholtzer
(954) 288-4433
Source:
Xome
Added: Jun 27, 2023
Changed: Aug 30
Last Checked: Aug 31 at 1:38PM
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 United Realty Group Inc
Investment Insights
Based on property information with market context.
This 3,000-square-foot warehouse provides an open interior configured for storage, with air conditioning, polished concrete floors, a dedicated office, and two bathrooms. Two roll-up doors measure 12 feet wide by 14 feet high, while the sloped roof offers 14.2 to 15.8 feet from floor to the bottom of the joists. The property was built in 2013 and includes four parking spaces.
The property sits at the corner of 595 and I-95, with Fort Lauderdale International Airport and Port Everglades described as minutes away. IROM-AA zoning—Industrial Research, Office and Marine Airport Approach District—adds a defined industrial and airport-approach land-use context.
The property sits at the corner of 595 and I-95, with Fort Lauderdale International Airport and Port Everglades described as minutes away. IROM-AA zoning—Industrial Research, Office and Marine Airport Approach District—adds a defined industrial and airport-approach land-use context.
Key Highlights
- 3,000‑square‑foot open warehouse bay
- IROM‑AA zoning: Industrial Research, Office and Marine Airport Approach District
- Two roll‑up doors measuring 12 feet W x 14 feet H
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
$49,835
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
4.33%
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%
$996,700
$996.7K
Cap Rate 7%
$711,929
$711.9K
Cap Rate 9%
$553,722
$553.7K
Market Conditions
NOI Build-Up for 3,000 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
$61.2K $20.40/SF
− Vacancy
−$2.6K −$0.86/SF
EGI
$58.6K $19.54/SF
− OpEx
−$8.8K −$2.93/SF
NOI
$49.8K $16.61/SF
Area
Fort Lauderdale, FL
Vacancy
4.20%
Lease Rate
$20.40 /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%
$996,700
Cap Rate 7%
$711,929
Cap Rate 9%
$553,722
Alternative Uses
Best Use
Warehouse
$711.9K
$622.9K – $830.6K
NOI $49,835 @ 7.0% cap · market cap 4.33%
Second Best
Flex RnD
$661.3K
$578.6K – $771.5K
NOI $46,290 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$2.02M
$1.76M – $2.35M
NOI $141,120 @ 7.0% cap · market cap 12.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,491
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33312, FL
51,570
Population
21,332
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
86%
High-School Grad
11.1 sq mi
ZIP Area
4,646
Density / Sq Mi
$77,644
Median Household Income
$39,333
Median Earnings
$1,566
Median Rent
$397,800
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - The open bay includes climate control, polished concrete, an office, and two restrooms.
Where is this warehouse located?
The property is located at 2960 SW 23rd Ter Unit 107 & 10 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 3,000‑square‑foot open warehouse bay; IROM‑AA zoning: Industrial Research, Office and Marine Airport Approach District; Two roll‑up doors measuring 12 feet W x 14 feet H
