Flex Space With
For Sale
$885,000
3321 ANDREWS Avenue, Fort Lauderdale, FL 33301
Adaptable commercial unit with high ceilings, dedicated parking, and separate customer entry.
Property Size2,000 SF
Price / SF$442.50
Days on Market11
Property Features for 3321 ANDREWS Avenue
General Information
Standard status
Active
Size
2,000 SF
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$8,910
Amenities
3
2 Parking Spaces.
Building Details
Year Built
2004
Listing Agency:
(954) 804-1104
Listed By:
Florida Market Realtors
(954) 804-1104
Source:
Xome
Added: Aug 7
Changed: Aug 16
Last Checked: Aug 16 at 7:34AM
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 flex space unit was built in 2004 and is configured for storage, workspace, or a combination of both. Improvements include high ceilings, epoxy flooring, a remodeled bathroom, kitchenette, refrigerator, alarm system, and a separate glass entrance. The insulated electric garage door measures 12+ feet, while a second-floor mezzanine with laminate flooring adds office or storage capacity. A rear emergency exit is also provided.
The unit is located within Airport 595 Business Center, minutes from SR84, Hollywood-Fort Lauderdale International Airport, and major roadways and interstates. Two parking spaces are included. The property is currently used for personal storage, and the 2026 new roof assessment is paid and completed.
The unit is located within Airport 595 Business Center, minutes from SR84, Hollywood-Fort Lauderdale International Airport, and major roadways and interstates. Two parking spaces are included. The property is currently used for personal storage, and the 2026 new roof assessment is paid and completed.
Key Highlights
- 12+ foot insulated electric garage door
- Second‑floor mezzanine with laminate flooring
- High ceilings and epoxy flooring
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
$33,223
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
3.75%
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%
$664,460
$664.5K
Cap Rate 7%
$474,614
$474.6K
Cap Rate 9%
$369,144
$369.1K
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
$40.8K $20.40/SF
− Vacancy
−$1.7K −$0.86/SF
EGI
$39.1K $19.54/SF
− OpEx
−$5.9K −$2.93/SF
NOI
$33.2K $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%
$664,460
Cap Rate 7%
$474,614
Cap Rate 9%
$369,144
Alternative Uses
Best Use
Warehouse
$474.6K
$415.3K – $553.7K
NOI $33,223 @ 7.0% cap · market cap 3.75%
Second Best
Flex RnD
$440.9K
$385.8K – $514.3K
NOI $30,860 @ 7.0% cap · market cap 3.49%
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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
8,399
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 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?
Flex space - Adaptable commercial unit with high ceilings, dedicated parking, and separate customer entry.
Where is this flex space located?
The property is located at 3321 ANDREWS Avenue 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: 12+ foot insulated electric garage door; Second‑floor mezzanine with laminate flooring; High ceilings and epoxy flooring
