Two-Unit Flex Space
For Sale
$739,000
3640 Northwest 16th Street, Lauderhill, FL 33311
Two commercial units combine office, showroom, warehouse, and storage areas.
Property Size2,400 SF
Price / SF$307.92
Days on Market145
Property Features for 3640 Northwest 16th Street
General Information
Standard status
Active
Size
2,400 SF
Total Parking Spaces
8
Property subtype
Multi-Family Income / Duplex
Zoning
IL
Warehouse & Industrial
Clear Height
14 ft
Drive-In Doors
2
Conditioned Warehouse
Yes
Taxes and HOA fees
Annual Taxes
$11,874
Amenities
kitchen
restrooms
storefront entrances
Building Details
Year Built
1986
Listing Agency:
Lifestyle International Realty
(305) 809-8085
Listed By:
Tal Abergel · License #3342288
(305) 809-8085
Source:
Compass
Added: Apr 7
Changed: Aug 29
Last Checked: Aug 29 at 3:46PM
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 Lifestyle International Realty
Investment Insights
Based on property information with market context.
This two-unit flex space property provides a combination of front office or showroom areas and warehouse functionality. Each unit includes 14-foot ceilings, a 12-foot by 12-foot grade-level loading door, an upstairs mezzanine, an additional office upstairs, a restroom, and a storefront-style entrance. One unit also has full warehouse HVAC and a kitchen area.
The property includes four reserved parking spaces in front of each unit, along with additional guest parking. It is located at 3640 Northwest 16th Street in Lauderhill, Florida, and carries IL (Industrial Light) zoning, supporting a range of commercial business uses. The building was constructed in 1986.
The property includes four reserved parking spaces in front of each unit, along with additional guest parking. It is located at 3640 Northwest 16th Street in Lauderhill, Florida, and carries IL (Industrial Light) zoning, supporting a range of commercial business uses. The building was constructed in 1986.
Key Highlights
- Two flex space units with office, showroom, warehouse, and mezzanine areas
- 14' ceilings in each unit
- 12' x 12' grade‑level loading door for each unit
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
$63,612
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
8.61%
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%
$1,272,240
$1.3M
Cap Rate 7%
$908,743
$908.7K
Cap Rate 9%
$706,800
$706.8K
Market Conditions
NOI Build-Up for 2,400 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
$109.4K $45.60/SF
− Vacancy
−$24.6K −$10.26/SF
EGI
$84.8K $35.34/SF
− OpEx
−$21.2K −$8.84/SF
NOI
$63.6K $26.51/SF
Area
Broward County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,272,240
Cap Rate 7%
$908,743
Cap Rate 9%
$706,800
Alternative Uses
Best Use
Office B
$908.7K
$795.2K – $1.06M
NOI $63,612 @ 7.0% cap · market cap 8.61%
Second Best
Flex RnD
$754.1K
$659.9K – $879.8K
NOI $52,790 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,233 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,594
Businesses Nearby
Balanced
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two commercial units combine office, showroom, warehouse, and storage areas.
Where is this flex space located?
The property is located at 3640 Northwest 16th Street Lauderhill, FL.
What is the asking price?
The asking price for this property is $739,000.
What are key features of this property?
This property features: Two flex space units with office, showroom, warehouse, and mezzanine areas; 14' ceilings in each unit; 12' x 12' grade‑level loading door for each unit
