Lauderhill Industrial Condominium
For Sale
Contact for pricing
3628 NW 16TH ST, Lauderhill, FL 33311
Six contiguous industrial condo units totaling 7,560± SF for sale.
Property Size7,560 SF
Price / SF$337.30
Days on Market111
Property Features for 3628 NW 16TH ST
General Information
Standard status
Active
Size
7,560 SF
Class
B
Property subtype
Industrial
Investment Type
Owner/User
Building Details
Year Built
1986
Buildings
1
Stories
1
Units
6
Listing Agency:
Lee & Associates - Broward/Palm Beach
(954) 399-6299
Listed By:
C. Todd Everett, SIOR · License #FL SL3265231
Source:
Crexi
Added: May 13
Changed: Aug 16
Last Checked: Aug 25 at 5:41PM
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 Lee & Associates - Broward/Palm Beach
Investment Insights
Based on property information with market context.
Located in central Broward County, ComCen Commerce Center offers six contiguous small-bay industrial condominium units totaling approximately 7,560 square feet in the Lauderhill industrial submarket. The property is positioned just east of US-441, providing convenient access to I-95, the Florida Turnpike, Port Everglades, and Fort Lauderdale-Hollywood International Airport. The property is suited for owner-users, investors, distributors, service operators, and light manufacturing businesses. The offering includes six grade-level loading doors and 15-foot clear ceiling heights. The layout is functional and flexible, accommodating a single user or multiple tenants. A majority of the space is built out as refrigerated/freezer warehouse space, creating an opportunity for food distribution, cold storage, or specialty industrial users. The property presents long-term upside, operational flexibility, and attainable industrial ownership in a connected Broward County location.
Key Highlights
- Rare opportunity to acquire six contiguous small‑bay industrial condominium units totaling 7,560± SF in central Broward County.
- Majority of space built out as refrigerated/freezer warehouse space, ideal for food distribution, cold storage, or specialty industrial users.
- Convenient access to I‑95, Florida Turnpike, Port Everglades, and Fort Lauderdale‑Hollywood International Airport.
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
$99,104
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
3.89%
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%
$1,982,080
$2.0M
Cap Rate 7%
$1,415,771
$1.4M
Cap Rate 9%
$1,101,156
$1.1M
Market Conditions
NOI Build-Up for 7,560 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
$123.4K $16.32/SF
− Vacancy
−$6.8K −$0.90/SF
EGI
$116.6K $15.42/SF
− OpEx
−$17.5K −$2.31/SF
NOI
$99.1K $13.11/SF
Area
Broward County, FL
Vacancy
5.50%
Lease Rate
$16.32 /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%
$1,982,080
Cap Rate 7%
$1,415,771
Cap Rate 9%
$1,101,156
Alternative Uses
Best Use
Warehouse
$1.42M
$1.24M – $1.65M
NOI $99,104 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.84M
$3.36M – $4.47M
NOI $268,485 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,594
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
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 - Six contiguous industrial condo units totaling 7,560± SF for sale.
Where is this warehouse located?
The property is located at 3628 NW 16TH ST Lauderhill, FL.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Rare opportunity to acquire six contiguous small‑bay industrial condominium units totaling 7,560± SF in central Broward County.; Majority of space built out as refrigerated/freezer warehouse space, ideal for food distribution, cold storage, or specialty industrial users.; Convenient access to I‑95, Florida Turnpike, Port Everglades, and Fort Lauderdale‑Hollywood International Airport.
