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    Flagler Village Flex/Warehouse Opportunity Title is generated by Realmo AI

    810 NE 4th Ave, Fort Lauderdale, FL 33304

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    Adjacent flex/warehouse buildings in the heart of Flagler Village.

    Type:Industrial
    Property size:
    5,147 SF
    Price / SF:
    $952/SF
    Added:
    Apr 16, 2023
    Days on Market:
    1146
    Last Refresh:
    May 12 at 10:51 pm

    Property Features for 810 NE 4th Ave

    General Information

    Standard status
    Active
    Size
    5,147 SF
    Property subtype
    Industrial

    We can help!

    Listing Contact
    Kaley Miller
    Kaley Miller

    Listing agent Kaley Miller License #FL 3222373

    Listing office Native Realty Co.

    Listing date Apr 16, 2023

    Source Crexi

    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 Native Realty Co.

    HighLights

    • Prime location in the heart of the M.A.S.S. District (Flagler Village).
    • Rare opportunity to own two adjacent flex buildings/warehouses.
    • Potential for a unique indoor/outdoor space.
    • Walking distance to multiple apartment buildings and Federal Highway.
    • Close proximity to Flagler Creative (316 apartments, 16,000 sq ft retail) and The Hive (15,000 sq ft food/beverage/retail).
    • Near the future Searstown redevelopment (1,500 apartments, hotel, 100,000+ sq ft retail/office/restaurants).

    Overview

    This offering presents a rare opportunity to own adjacent flex buildings/warehouses in the Music and Arts South of Sunrise (M.A.S.S.) District within Flagler Village. The properties feature exposed wood beam ceilings and multiple garage doors. One of the properties offers access points from both NE 4th Avenue and NE 5th Avenue with surface parking or storage in the rear. The other building includes five garage doors, two of which overlook a large backyard and covered patio area suitable for a food and beverage operator or a bar. Combined, the two properties could create an indoor/outdoor space within Flagler Village, within walking distance of apartment buildings and Federal Highway. The properties are located on NE 4th Avenue, neighboring the fully approved Flagler Creative, a mixed-use building with 316 apartments and nearly 16,000 square feet of retail. Nearby is The Hive, which offers over 15,000 square feet of food and beverage and retail with local favorites. The Searstown redevelopment, slated for construction soon on 5.2 acres, will offer nearly 1,500 apartments between 5 buildings, a hotel, and more than 100,000 square feet of retail, office and restaurants. The property size is 5,147 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Highline Studios Film Production

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Dental Office Law Firm Hair Salon Nail Salon Building Supply Pharmacy Auto Repair Shop

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

    Similar Places Nearby

    • Smokey Jays — 501 E Las Olas Blvd, Fort Lauderdale, FL 33301
    • Lone Star Drafts — 201 E Las Olas Blvd, Fort Lauderdale, FL 33301
    • FOODIE EVENTS & CATERING — 809 W Las Olas Blvd, Fort Lauderdale, FL 33312
    • Epicureans of Florida - Private Chef, Catering & Luxury Events — 4 W Las Olas Blvd Unit 1801, Fort Lauderdale, FL 33301
    • Folklore - Personal Chef — 300 se 2nd st suite 600, fort lauderdale, fl 33301

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1396746
    Latitude
    26.1337563

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    FAQs

    What type of property is this?
    Flex space - Adjacent flex/warehouse buildings in the heart of Flagler Village.
    Where is this flex space located?
    The property is located at 810 NE 4th Ave Fort Lauderdale, FL.
    What is the asking price?
    The asking price for this property is $4,900,000.
    What are key features of this property?
    This property features: Prime location in the heart of the M.A.S.S. District (Flagler Village).; Rare opportunity to own two adjacent flex buildings/warehouses.; Potential for a unique indoor/outdoor space.
    (954) 595-2999 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Kaley Miller
    Kaley Miller
    Real Estate License ID: FL 3222373
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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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