Office/Warehouse Flex
For Sale
$1,180,000
2801 3rd Ave, Fort Lauderdale, FL 33315
Well-maintained flex unit with office buildout and an open warehouse with a 20-foot ceiling and roll-up door.
Property Size2,700 SF
Price / SF$437.04
Days on Market1028
Property Features for 2801 3rd Ave
General Information
Standard status
Active
Size
2,700 SF
Property subtype
General Commercial
Additional Details
Clear Height
20 ft
Taxes and HOA fees
Annual Taxes
$9,645
Amenities
3
2200
City Road.
Building Details
Year Built
2002
Stories
1
Listing Agency:
Better Homes & Gdns RE Fla 1st
(954) 525-2200
Listed By:
Ruth Buttendorf · License #0661434
(305) 439-9024
Source:
Xome
Added: Nov 15, 2023
Changed: Sep 2
Last Checked: Sep 8 at 4:32AM
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 Better Homes & Gdns RE Fla 1st
Investment Insights
Based on property information with market context.
This well-maintained office/warehouse flex unit features a total of 2,700 square feet, including an additional 500 square feet mezzanine office loft. The first floor includes a built-out office area of 1,000 square feet alongside an open warehouse space of 1,200 square feet. Warehouse improvements include a 20-foot high ceiling and a 12 x 14-foot roll-up door, supporting practical loading and storage needs. The entry includes a glass front door and sidelite, and the unit is described as turnkey ready to move in.
The property is conveniently located minutes from Fort Lauderdale International Airport, Port Everglades, and Marina Mile Road, with access to major roadways.
Overall, the layout combines dedicated office space on the ground level with an additional mezzanine office loft above the warehouse area, while maintaining a clear open warehouse footprint below.
The property is conveniently located minutes from Fort Lauderdale International Airport, Port Everglades, and Marina Mile Road, with access to major roadways.
Overall, the layout combines dedicated office space on the ground level with an additional mezzanine office loft above the warehouse area, while maintaining a clear open warehouse footprint below.
Key Highlights
- Well‑maintained office/warehouse flex unit built in 2002 with a total of 2,700 SF (2,200 SF plus 500 SF mezzanine office loft).
- First floor includes 1,000 SF office buildout and 1,200 SF open warehouse.
- Warehouse has a 20‑ft high ceiling and a 12 x 14 ft roll‑up door.
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
$44,852
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
3.80%
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%
$897,040
$897.0K
Cap Rate 7%
$640,743
$640.7K
Cap Rate 9%
$498,356
$498.4K
Market Conditions
NOI Build-Up for 2,700 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
$55.1K $20.40/SF
− Vacancy
−$2.3K −$0.86/SF
EGI
$52.8K $19.54/SF
− OpEx
−$7.9K −$2.93/SF
NOI
$44.9K $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%
$897,040
Cap Rate 7%
$640,743
Cap Rate 9%
$498,356
Alternative Uses
Best Use
Warehouse
$640.7K
$560.7K – $747.5K
NOI $44,852 @ 7.0% cap · market cap 3.80%
Second Best
Flex RnD
$595.2K
$520.8K – $694.4K
NOI $41,661 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$1.81M
$1.59M – $2.12M
NOI $127,008 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Location Intelligence
Trade Area within ½ mile
2,671
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33315, FL
13,555
Population
6,991
Households
1.9
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
5.3 sq mi
ZIP Area
2,558
Density / Sq Mi
$90,760
Median Household Income
$43,815
Median Earnings
$1,789
Median Rent
$492,400
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?
Flex space - Well-maintained flex unit with office buildout and an open warehouse with a 20-foot ceiling and roll-up door.
Where is this flex space located?
The property is located at 2801 3rd Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,180,000.
What are key features of this property?
This property features: Well‑maintained office/warehouse flex unit built in 2002 with a total of 2,700 SF (2,200 SF plus 500 SF mezzanine office loft).; First floor includes 1,000 SF office buildout and 1,200 SF open warehouse.; Warehouse has a 20‑ft high ceiling and a 12 x 14 ft roll‑up door.
