Urban Warehouse with Outdoor
For Sale
Contact for pricing
724 Northwest 8th Avenue, Fort Lauderdale, FL 33311
One-story CBS facility combines workshop, storage, offices, restrooms, and secured paved industrial outdoor storage.
Property Size3,000 SF
Lot Size0.39 Acres
Price / SF$733.33
Days on Market15
Property Features for 724 Northwest 8th Avenue
General Information
Standard status
Active
Size
3,000 SF
Lot size
0.39 Acres
Property subtype
Industrial
Occupancy
100%
Lease Type
Modified Gross
Net Operating Income
$126,910
Financials
Asking Price
$2,200,000
Cap Rate
5.8%
Gross Income
$149,760
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Additional Details
Clear Height
11 ft
Building Details
Year Built
1960
Buildings
1
Stories
1
Tenancy
Single
Building Size
3,000 SF
Construction
CBS
Listing Agency:
DWNTWN Realty Advisors
(305) 909-7343
Listed By:
Devlin Marinoff · License #3401802
Source:
Crexi
Added: Jul 29
Changed: Aug 9
Last Checked: Aug 11 at 8:03PM
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 DWNTWN Realty Advisors
Investment Insights
Based on property information with market context.
The 1960-built warehouse at 724 Northwest 8th Avenue is a one-story CBS structure totaling 3,000 SF on a 16,875-square-foot lot. Interior areas include a 1,316 SF workshop, 774 SF of storage, a 204 SF waiting room, private office, employee room, two restrooms, and mechanical space. Ceiling height is approximately 11 feet, while the two contiguous parcels provide 125 feet of frontage and 135 feet of depth.
The property is fully leased to AMKON LLC for office operations, vehicle storage, and fleet maintenance under a lease executed April 22, 2025, running through April 2030. The agreement includes two five-year renewal options, with rent adjustments tied to fair market value or a 4% increase over the prior year. The lease also gives ownership a right to terminate with 90 days' notice. Taxes and insurance follow a 2025 base year, and the tenant handles utilities, waste removal, and interior maintenance. Located in Fort Lauderdale’s Sistrunk District, the site includes secured paved industrial outdoor storage.
The property is fully leased to AMKON LLC for office operations, vehicle storage, and fleet maintenance under a lease executed April 22, 2025, running through April 2030. The agreement includes two five-year renewal options, with rent adjustments tied to fair market value or a 4% increase over the prior year. The lease also gives ownership a right to terminate with 90 days' notice. Taxes and insurance follow a 2025 base year, and the tenant handles utilities, waste removal, and interior maintenance. Located in Fort Lauderdale’s Sistrunk District, the site includes secured paved industrial outdoor storage.
Key Highlights
- 3,000 SF warehouse on a 16,875‑square‑foot lot
- 1,316 SF workshop, 774 SF storage area, 204 SF waiting room, office, employee room, and two restrooms
- 125 feet of frontage and 135 feet of depth across two contiguous parcels
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
$86,184
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
3.92%
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%
$1,723,680
$1.7M
Cap Rate 7%
$1,231,200
$1.2M
Cap Rate 9%
$957,600
$957.6K
Market Conditions
NOI Build-Up for 3,000 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
$136.8K $45.60/SF
− Vacancy
−$21.9K −$7.30/SF
EGI
$114.9K $38.30/SF
− OpEx
−$28.7K −$9.58/SF
NOI
$86.2K $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%
$1,723,680
Cap Rate 7%
$1,231,200
Cap Rate 9%
$957,600
Alternative Uses
Best Use
Office B
$1.23M
$1.08M – $1.44M
NOI $86,184 @ 7.0% cap · market cap 3.92%
Second Best
Warehouse
$711.9K
$622.9K – $830.6K
NOI $49,835 @ 7.0% cap · market cap 2.27%
Theoretical Best
Office A
$2.02M
$1.76M – $2.35M
NOI $141,120 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11 ft
Clear height
100%
Occupancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
875
Businesses Nearby
Under-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 Office in Fort Lauderdale, FL
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Frequently Asked Questions
What type of property is this?
Warehouse - One-story CBS facility combines workshop, storage, offices, restrooms, and secured paved industrial outdoor storage.
Where is this warehouse located?
The property is located at 724 Northwest 8th Avenue Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 3,000 SF warehouse on a 16,875‑square‑foot lot; 1,316 SF workshop, 774 SF storage area, 204 SF waiting room, office, employee room, and two restrooms; 125 feet of frontage and 135 feet of depth across two contiguous parcels
