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    Freestanding Class A Office Building Title is generated by Realmo AI

    721 NE 3rd Ave, Fort Lauderdale, FL 33304

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    For Lease
    $56 SF/Yr $10,000/Mo (calc)

    Office - Fort Lauderdale, FL

    Type:Office
    Property size:
    2,143 SF
    Lot size:
    0.22 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 2:06 am

    Property Features for 721 NE 3rd Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    RAC-UV
    Parking
    5
    Parking features
    Assigned
    Security features
    Security System
    Interior features
    Security System
    Standard status
    Active
    APN
    494234071640
    Lot size
    0.22 Acres

    Building Details

    Year built
    1987
    Number of units
    1
    Flooring type
    Concrete, Hardwood, Wood
    Building materials
    Block
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Ricardo Rios

    Listing agent Ricardo Rios License #3394079

    Listing office LoKation 1500 E. Atlantic Blvd., Pompano Beach, FL

    Listing date Jun 3, 2026

    MLS# A12030462 Listing URL

    Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 2,143 SF freestanding Class “A” office building designed by D.F. Zimmer in Flagler Village
    • Zoned CG – Commercial General; modified gross lease (not NNN) with no CAM, and rent includes water, sewer, trash, lawn care, and exterior maintenance
    • 1987 construction with block exterior and shingle roof
    • Interior includes reception, full kitchenette, conference room, 2 executive corner offices, 2 glass offices, 2 open workspace areas, and 1 restroom
    • Massive crawl/storage space below plus security system
    • 5 assigned parking spaces; hurricane accordion shutters; tenant pays FP&L; current tenant expected through July 1 or July 15, 2026 (move‑out date TBD)

    Overview

    Freestanding Class “A” office building designed by D.F. Zimmer, fully updated and configured for professional use. The space includes a reception area, full kitchenette, conference room, two executive corner offices, two glass offices, two large open workspace areas, and one restroom. A massive crawl/storage space below provides additional storage capacity. Additional on-site features include hurricane accordion shutters.

    Located at 721 NE 3rd Ave in Fort Lauderdale (Flagler Village area), the property is presented as a commercial office site with zoning listed as RAC-UV and also described in the remarks as CG—Commercial General. The building includes five parking spaces, and the lease is structured as Modified Gross (not a Triple Net/NNN).

    The modified gross terms specify that rent includes water, sewer, trash, lawn care, and exterior building maintenance, while FP&L is paid by the tenant. The current tenant is expected to occupy through either July 1 or July 15, 2026, with the final move-out date to be confirmed. The layout is positioned as a fit for legal, medical, or other professional office users seeking a freestanding setting with dedicated workspace and built-in storage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Livoti Jr Anthony ... Law Firm Templer & Hirsch, Defense ... Law Firm 4 Arrows Art Tattoo & Piercing Shop Crossed Keys Collective Tattoo & Piercing Shop Pro Market Vision Marketing & Advertising

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Law Firm Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1411906
    Latitude
    26.1323652

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    FAQs

    What type of property is this?
    Office building - Fully updated freestanding office with crawl storage and five parking spaces, offered on a modified gross lease.
    Where is this office building located?
    The property is located at 721 NE 3rd Ave Fort Lauderdale, FL.
    What is the lease rate?
    The lease rate is $56 SF/Yr.
    What are key features of this property?
    This property features: 2,143 SF freestanding Class “A” office building designed by D.F. Zimmer in Flagler Village; Zoned CG – Commercial General; modified gross lease (not NNN) with no CAM, and rent includes water, sewer, trash, lawn care, and exterior maintenance; 1987 construction with block exterior and shingle roof
    (954) 545-5583
    We can help!
    Listing Contact
    Ricardo Rios
    Real Estate License ID: 3394079
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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