Free-Standing Professional
For Sale
$799,000
423 19th St, Fort Lauderdale, FL 33316
Free-standing office with a patio, two inner offices, a large conference room, and an in-unit kitchen.
Property Size1,240 SF
Price / SF$644.35
Days on Market52
Property Features for 423 19th St
General Information
Standard status
Active
Size
1,240 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$9,773
Amenities
3
Building Details
Year Built
1967
Listing Agency:
Icon Realty Brokerage, LLC
(954) 870-1281
Listed By:
Eric Jackwin
(954) 870-1281
Source:
Xome
Added: Jul 4
Changed: Aug 24
Last Checked: Aug 23 at 4:31AM
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 Icon Realty Brokerage, LLC
Investment Insights
Based on property information with market context.
This free-standing, Key West-style office includes two inner offices, a large conference room, and an open work area designed for day-to-day operations. The unit also features a full-sized kitchen with a refrigerator, oven, and ample counter space and cabinetry. For a break between meetings, there is a patio overlooking the backyard.
The property is conveniently located near Broward Health and the State Courthouse, with the future Federal Courthouse nearby. It is also minutes from downtown and Fort Lauderdale Airport, with access to I-595 and I-95.
Available as a for-sale office property, it offers a compact layout well suited to professional services needing both private rooms and a dedicated conference space.
The property is conveniently located near Broward Health and the State Courthouse, with the future Federal Courthouse nearby. It is also minutes from downtown and Fort Lauderdale Airport, with access to I-595 and I-95.
Available as a for-sale office property, it offers a compact layout well suited to professional services needing both private rooms and a dedicated conference space.
Key Highlights
- Free‑standing office built in 1967 with a patio overlooking the backyard
- Layout includes 2 inner offices plus a large conference room and open workspace
- Full‑sized in‑unit kitchen with refrigerator, oven, counter space, and cabinets
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
$35,623
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
4.46%
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%
$712,460
$712.5K
Cap Rate 7%
$508,900
$508.9K
Cap Rate 9%
$395,811
$395.8K
Market Conditions
NOI Build-Up for 1,240 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
$56.5K $45.60/SF
− Vacancy
−$9.0K −$7.30/SF
EGI
$47.5K $38.30/SF
− OpEx
−$11.9K −$9.58/SF
NOI
$35.6K $28.73/SF
Area
Fort Lauderdale, FL
Vacancy
16.00%
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%
$712,460
Cap Rate 7%
$508,900
Cap Rate 9%
$395,811
Alternative Uses
Best Use
Office B
$508.9K
$445.3K – $593.7K
NOI $35,623 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$833.3K
$729.1K – $972.2K
NOI $58,330 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,496
Businesses Nearby
Explore this area
Business Placement
Demographics for 33316, FL
12,669
Population
8,946
Households
1.4
Avg Household Size
50
Median Age
54%
College-Educated
95%
High-School Grad
4.1 sq mi
ZIP Area
3,090
Density / Sq Mi
$89,200
Median Household Income
$52,992
Median Earnings
$2,047
Median Rent
$793,500
Median Home Value
Market
Vacancy Rate% for Office in Fort Lauderdale, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Free-standing office with a patio, two inner offices, a large conference room, and an in-unit kitchen.
Where is this office units located?
The property is located at 423 19th St Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Free‑standing office built in 1967 with a patio overlooking the backyard; Layout includes 2 inner offices plus a large conference room and open workspace; Full‑sized in‑unit kitchen with refrigerator, oven, counter space, and cabinets
