Spacious Warehouse on Large
For Sale
$4,999,999
1612 NW 38th Ave, Fort Lauderdale, FL 33311
Large warehouse on a 51,000 SF lot, Lauderhill.
Property Size20,000 SF
Lot Size1.19 Acres
Price / SF$249
Days on Market156
Property Features for 1612 NW 38th Ave
General Information
Standard status
Active
Size
20,000 SF
Lot size
1.19 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$55,343
Building Details
Year Built
1981
Listing Agency:
G & E Realty Group, Inc
(954) 643-4849
Listed By:
Noah Thornton · License #3026619
(954) 643-4849
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:36AM
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 G & E Realty Group, Inc
Investment Insights
Based on property information with market context.
This property features a warehouse with over 20,000 square feet of space, situated on a 51,000 square foot lot. The property is located in Lauderhill and is positioned next to a UPS facility. One unit is currently vacant.
Key Highlights
- Large warehouse space: Over 20,000 sq ft
- Substantial lot size of 51,000 sq ft
- Prime location in Lauderhill
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
$332,234
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
6.64%
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%
$6,644,680
$6.6M
Cap Rate 7%
$4,746,200
$4.7M
Cap Rate 9%
$3,691,489
$3.7M
Market Conditions
NOI Build-Up for 20,000 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
$408.0K $20.40/SF
− Vacancy
−$17.1K −$0.86/SF
EGI
$390.9K $19.54/SF
− OpEx
−$58.6K −$2.93/SF
NOI
$332.2K $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%
$6,644,680
Cap Rate 7%
$4,746,200
Cap Rate 9%
$3,691,489
Alternative Uses
Best Use
Warehouse
$4.75M
$4.15M – $5.54M
NOI $332,234 @ 7.0% cap · market cap 6.64%
Second Best
Industrial
$4.13M
$3.61M – $4.81M
NOI $288,792 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$13.44M
$11.76M – $15.68M
NOI $940,800 @ 7.0% cap · market cap 18.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,506
Businesses Nearby
Well-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
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Frequently Asked Questions
What type of property is this?
Warehouse - Large warehouse on a 51,000 SF lot, Lauderhill.
Where is this warehouse located?
The property is located at 1612 NW 38th Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $4,999,999.
What are key features of this property?
This property features: Large warehouse space: Over 20,000 sq ft; Substantial lot size of 51,000 sq ft; Prime location in Lauderhill
