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    511 5Th Ave Fort Lauderdale, FL 33301

    Sponsored
    For Sale
    $1,900,000

    Three adjacent offices, 4,540 sqft total

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    Exceptional opportunity to acquire three contiguous office spaces totaling 4,540 square feet in a prime Fort Lauderdale location. This 2005-built property, situated at 511 SE 5th Ave #11, comprises three units (11, 9, and 8) with individual folio numbers, offering flexibility and potential for various business configurations. Unit 11 boasts 1,730 square feet, unit 9 offers 1,349 square feet, and unit 8 encompasses 1,461 square feet. The combined annual association fee is $5,642, broken down as $2,205 for unit 11, $1,645 for unit 9, and $1,792 for unit 8. The property features a modern design with high-end finishes, including a spacious common area with over 12-foot ceilings, a fully equipped kitchen, two bathrooms, and a high-end conference room. The building offers 24-hour security and is ideally located near downtown Fort Lauderdale, Las Olas Boulevard, and the waterfront, providing excellent visibility and accessibility. The ample space allows for more than eight individual workspaces and offers the potential for a client recreation area. This is a rare opportunity to own a substantial and well-appointed office complex in a highly desirable location. The asking price for this exceptional property is $1,900,000.

    Property Features for 511 5Th Ave

    General Information

    Property type
    Office Properties & Spaces

    Building Details

    Year Built
    2005

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    Listing Contact
    Gabriela Espejo

    Learn more

    Property Insight Report

    HighLights

    • Three contiguous office spaces totaling 4,540 square feet in prime Fort Lauderdale.
    • 2005‑built property at 511 SE 5th Ave #11, comprised of three units (11, 9, & 8) with individual folio numbers.
    • Unit sizes: 1,730 SF (Unit 11), 1,349 SF (Unit 9), and 1,461 SF (Unit 8). Combined annual HOA fees: $5,642.
    • Modern design with high‑end finishes, including a spacious common area, kitchen, two bathrooms, and a high‑end conference room.
    • 24‑hour security, near downtown Fort Lauderdale, Las Olas Boulevard, and the waterfront.
    • Asking price: $1,900,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Askaneli Premium Georgian ... Caterer The MRL Group Advertising Agency Career Activation Employment Center Kunstler Plus Manufacturer Riverwalk South Outdoor ... Chess Club

    Suggested Use

    Restaurant Spa & Massage Hair Salon Dental Office Realty agency Nail Salon Clothing Store Food Market Grocery Store Daycare 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
    -80.1391829
    Latitude
    26.1160787

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    FAQs

    What type of property is this?
    Office Property Space - Three adjacent offices, 4,540 sqft total
    Where is this office property space located?
    The property is located at 511 5Th Ave Fort Lauderdale, FL.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: Three contiguous office spaces totaling 4,540 square feet in prime Fort Lauderdale.; 2005-built property at 511 SE 5th Ave #11, comprised of three units (11, 9, & 8) with individual folio numbers.; Unit sizes: 1,730 SF (Unit 11), 1,349 SF (Unit 9), and 1,461 SF (Unit 8). Combined annual HOA fees: $5,642.
    Request Owner's contact information
    511 5Th Ave Fort Lauderdale, FL 33301
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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.

    More about this property
    511 5Th Ave Fort Lauderdale, FL 33301
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    We can help!
    Listing Contact
    Gabriela Espejo
    Real Estate License ID: 3317966
    Learn more
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