Two-Unit Flex
For Sale
$789,000
3640 NW 16th St 7B & 8B, Lauderhill, FL 33311
Industrial Light zoning supports varied business uses, with office, showroom, restroom, and warehouse components in each unit.
Property Size2,500 SF
Days on Market130
Property Features for 3640 NW 16th St 7B & 8B
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$11,874
Building Details
Building Size
2,500 SF
Year Built
1986
Stories
2
Listing Agency:
United Realty Group Inc
(954) 684-3141
Listed By:
Tal Abergel · License #A12064535
(954) 684-3141
Source:
Elliman
Added: Apr 24
Changed: Aug 30
Last Checked: Aug 30 at 1:11PM
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 United Realty Group Inc
Investment Insights
Based on property information with market context.
This offering includes two warehouse units, each combining front office or showroom space with a warehouse area, a 14-foot ceiling, and a 12' x 12' grade-level loading door. Both units provide an upstairs mezzanine for storage, an additional upper-level office, a restroom, and storefront-style entry. One unit also includes full warehouse HVAC and a kitchen area.
Four reserved parking spaces are positioned in front of each unit, supplemented by guest parking. The property is designated IL, or Industrial Light, zoning, which allows a variety of business uses. Built in 1986, the property is located at 3640 NW 16th St in Lauderhill, Florida.
Four reserved parking spaces are positioned in front of each unit, supplemented by guest parking. The property is designated IL, or Industrial Light, zoning, which allows a variety of business uses. Built in 1986, the property is located at 3640 NW 16th St in Lauderhill, Florida.
Key Highlights
- Two warehouse units with office/showroom areas and storefront‑style entrances
- Each unit includes a 14' ceiling and 12' x 12' grade‑level loading door
- Upstairs mezzanine and an additional office provide added functional space
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
$66,263
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
8.40%
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%
$1,325,260
$1.3M
Cap Rate 7%
$946,614
$946.6K
Cap Rate 9%
$736,256
$736.3K
Market Conditions
NOI Build-Up for 2,500 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
$114.0K $45.60/SF
− Vacancy
−$25.7K −$10.26/SF
EGI
$88.4K $35.34/SF
− OpEx
−$22.1K −$8.84/SF
NOI
$66.3K $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%
$1,325,260
Cap Rate 7%
$946,614
Cap Rate 9%
$736,256
Alternative Uses
Best Use
Office B
$946.6K
$828.3K – $1.10M
NOI $66,263 @ 7.0% cap · market cap 8.40%
Second Best
Flex RnD
$785.6K
$687.4K – $916.5K
NOI $54,990 @ 7.0% cap · market cap 6.97%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,785 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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 - Industrial Light zoning supports varied business uses, with office, showroom, restroom, and warehouse components in each unit.
Where is this flex space located?
The property is located at 3640 NW 16th St 7B & 8B Lauderhill, FL.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Two warehouse units with office/showroom areas and storefront‑style entrances; Each unit includes a 14' ceiling and 12' x 12' grade‑level loading door; Upstairs mezzanine and an additional office provide added functional space
