Multi-Bay Flex Industrial
1601 NW 38TH Avenue, Lauderhill, FL 33311
For Sale
Contact for pricing
A fully occupied, multi-tenant asset with established tenancy in an industrial park setting.
Property Size24,850 SF
Lot Size1.60 Acres
Price / SF$0.08
Days on Market95
Property Features for 1601 NW 38TH Avenue
General Information
Standard status
Size
Lot size
Property subtype
Occupancy
Additional Details
Clear Height
Tenant in Place
Property Use
Building Details
Year Built
Buildings
Building Size
Tenancy
Listing Agency:
Cohen Realty Group
Listed By:
Gamila Y Cohen · License FL #3240294
(954) 826-7785
Source:
Lehmannflorida
Added: Aug 10
Changed: Nov 12
Last Checked: Nov 12 at 8:32AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 24,850-square-foot flex industrial building occupies 1.6 acres and contains nine bays. Built in 1977, the property has 14-foot clear ceilings and is fully leased. Several tenants have remained in place for more than 10 years, providing a history of long-term occupancy across the multi-tenant layout.
The property is in Lauderhill’s industrial park, on a corner across from UPS. Its existing configuration combines flex space with industrial warehouse use.
The property is in Lauderhill’s industrial park, on a corner across from UPS. Its existing configuration combines flex space with industrial warehouse use.
Key Highlights
- 24,850‑square‑foot building on 1.6 acres
- Nine bays; fully leased to multiple tenants
- Several tenants have occupied the property for more than 10 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$261,932
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,238,640
$5.2M
Cap Rate 7%
$3,741,886
$3.7M
Cap Rate 9%
$2,910,356
$2.9M
Market Conditions
NOI Build-Up for 24,850 SF
Gross rent
$426.4K $17.16/SF
− Vacancy
−$23.5K −$0.94/SF
EGI
$403.0K $16.22/SF
− OpEx
−$141.0K −$5.68/SF
NOI
$261.9K $10.54/SF
Area
Broward County, FL
Vacancy
5.50%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,238,640
Cap Rate 7%
$3,741,886
Cap Rate 9%
$2,910,356
Alternative Uses
Best Use
Warehouse
$5.79M
$5.07M – $6.76M
NOI $405,390 @ 7.0% cap
Second Best
Industrial
$3.83M
$3.35M – $4.47M
NOI $268,273 @ 7.0% cap
Theoretical Best
Office A
$12.61M
$11.03M – $14.71M
NOI $882,522 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
14 ft
Clear height
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
776
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
$276,600
Median Home Value
Market
Average Price Trend$/SF for Flex space in Broward County, FL
Properties on Market for Flex space in Broward County
Vacancy Rate% for Industrial in South region
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 - A fully occupied, multi-tenant asset with established tenancy in an industrial park setting.
Where is this flex space located?
The property is located at 1601 NW 38TH Avenue Lauderhill, FL.
What are key features of this property?
This property features: 24,850‑square‑foot building on 1.6 acres; Nine bays; fully leased to multiple tenants; Several tenants have occupied the property for more than 10 years
