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    920 State Road 84 Fort Lauderdale, FL 33315
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    920 State Road 84, Fort Lauderdale, FL 33315

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    Property Details for 920 State Road 84

    Property type
    Specialty properties
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional 2,175 square foot flex space in Fort Lauderdale, Florida, presents a unique opportunity for businesses seeking versatile commercial space. Located at 920 W State Rd 84, Broward County, zip code 33315, this single-tenant property offers a blank canvas for customization. The building is a grey shell structure, meaning the interior is unfinished, providing maximum flexibility for tenant build-out to suit specific needs. A significant advantage is the large on-site parking lot, ideal for businesses requiring ample parking for employees or customers. The property's convenient location is further enhanced by its proximity to a deli, offering added convenience. This property is perfect for various uses, including storage, workshops, or temporary warehousing. The lease is structured on a year-to-year basis, offering flexibility for short-term or long-term occupancy. The property type is classified as Retail, Industrial, and Special Purpose, reflecting its adaptability to a wide range of commercial activities. The property is available for lease only

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1535
    Latitude
    26.092

    Comparable in this City

    • Value Estimation by Request

      2011 State Road 84

      Distribution properties
      2011 State Road 84, Fort Lauderdale, FL 33315
      View Details
    • Value Estimation by Request
      108,500 SF

      1881-1887 State Road 84

      Distribution properties
      1881-1887 State Road 84, Fort Lauderdale, FL 33315
      View Details
    • Value Estimation by Request

      441-443 5Th St

      Flex space
      441-443 5Th St, Fort Lauderdale, FL 33315
      View Details
    • Value Estimation
      $3,385,000
      10,052 SF

      325 26th St

      PROFESSIONAL CLUBS/ASSOCIATIONS
      325 26th St, Fort Lauderdale, FL 33315-2619
      View Details
    • Value Estimation by Request
      2,576 SF

      1620 State Rd 84

      PROFESSIONAL CLUBS/ASSOCIATIONS
      1620 State Rd 84, Fort Lauderdale, FL 33315-2219
      View Details
    • Value Estimation by Request
      1,566 SF

      1790 32nd St

      PROFESSIONAL CLUBS/ASSOCIATIONS
      1790 32nd St, Fort Lauderdale, FL 33315-3210
      View Details

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      Fort Lauderdale NNN Leased Property

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      Fort Lauderdale Flex Space Available

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      Showroom Warehouse Space Available

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      Fort Lauderdale Flex Building For Rent

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      7,050 SF

      Showroom Warehouse Space Available

      Office/showroom/warehouse space for lease near major highways.
      1881 W State Road 84, Fort Lauderdale, FL 33315
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    Fort Lauderdale, FL 33315
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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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