Oakland Park Warehouse
For Sale
Contact for pricing
821-835 NW 45th St, Oakland Park, FL 33309
12,520 SF warehouse property with 32 individual storage units.
Property Size12,520 SF
Lot Size0.53 Acres
Price / SF$199.68
Days on Market670
Property Features for 821-835 NW 45th St
General Information
Standard status
Active
Size
12,520 SF
Lot size
0.53 Acres
Property subtype
Industrial
Zoning
I-1
Occupancy
93%
Lease Type
NNN
Investment Type
Value Add
Building Details
Buildings
2
Stories
1
Units
31
Tenancy
Multi
Listing Agency:
STL Commercial
Listed By:
Max Loria · License #3455922
(561) 901-1402
Source:
Crexi
Added: Nov 4, 2024
Changed: Aug 26
Last Checked: Sep 2 at 10:04AM
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 STL Commercial
Investment Insights
Based on property information with market context.
The property at 821-835 NW 45th St, Oakland Park FL, is a 12,520 SF warehouse situated on a 0.53 AC lot. The property features 32 individual storage/work bay units, ranging in size from 315 SF to 945 SF. Each unit includes a 10’ x 10’ roll-up door and 13’ ceilings. The property consists of three buildings across three adjacent folios, with approximately 1,000 SF currently vacant. Ample parking is available for tenants. The location is just off of I-95, between Powerline and Prospect Road, providing accessibility for a wide range of tenants. The property's monthly gross rental income is $25,950, with an annual gross rental income of $311,400.
Key Highlights
- High Annual Gross Rental Income: $311,400
- Prime Location: Just off I‑95, between Powerline and Prospect Road, offering excellent accessibility.
- High Occupancy: Only 1,000 SF vacant in a 12,520 SF building.
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
$164,125
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
6.57%
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%
$3,282,500
$3.3M
Cap Rate 7%
$2,344,643
$2.3M
Cap Rate 9%
$1,823,611
$1.8M
Market Conditions
NOI Build-Up for 12,520 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
$204.3K $16.32/SF
− Vacancy
−$11.2K −$0.90/SF
EGI
$193.1K $15.42/SF
− OpEx
−$29.0K −$2.31/SF
NOI
$164.1K $13.11/SF
Area
Broward County, FL
Vacancy
5.50%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
15.00%
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%
$3,282,500
Cap Rate 7%
$2,344,643
Cap Rate 9%
$1,823,611
Alternative Uses
Best Use
Warehouse
$2.34M
$2.05M – $2.74M
NOI $164,125 @ 7.0% cap · market cap 6.57%
Second Best
Self Storage
$2.10M
$1.83M – $2.45M
NOI $146,709 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$6.35M
$5.56M – $7.41M
NOI $444,635 @ 7.0% cap · market cap 17.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,399
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33309, FL
37,642
Population
14,783
Households
2.5
Avg Household Size
39
Median Age
23%
College-Educated
85%
High-School Grad
9.7 sq mi
ZIP Area
3,881
Density / Sq Mi
$73,496
Median Household Income
$35,850
Median Earnings
$1,829
Median Rent
$309,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 12,520 SF warehouse property with 32 individual storage units.
Where is this warehouse located?
The property is located at 821-835 NW 45th St Oakland Park, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: High Annual Gross Rental Income: $311,400; Prime Location: Just off I‑95, between Powerline and Prospect Road, offering excellent accessibility.; High Occupancy: Only 1,000 SF vacant in a 12,520 SF building.
