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    1160 24th Ct Wilton Manors, FL 33305-2234

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    1160 24th Ct Wilton Manors, FL 33305-2234

    View on Map
    • Warehouses
    • 5,050 SF
    • 0.16 lot acres
    Off-Market
    Last Sale Jul 26, 2023
    $950,000
    Property ID
    US18-5411282
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $985,000
    Show details
    Cap Rate Potential
    8.6%
    Warehouses
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 1160 24th Ct

    Year built
    1958
    Construction
    CONCRETE
    Lot size
    0.16 lot acres
    Property size
    5,050 SF
    Zone code
    TOC SOUTH
    Property type
    Warehouses
    APN
    49-42-26-26-0050
    APU
    494226260050

    Description

    This Wilton Manors industrial flex space at 1160 NE 24th Court offers 5,050 square feet of versatile space, divisible into two 2,440 square foot units. The property features three drive-in bays, high ceilings, and bay doors, ideal for various retail or industrial uses. Located in Broward County, Florida (zip code 33305), this property benefits from its prime location within a thriving area, surrounded by art galleries, retail shops, restaurants, and gyms. Its proximity to Wilton Drive and 5 Points ensures excellent accessibility. The zoning is TOC South. The building sits on a lot with no recorded square footage. The entire 5,050 square foot space is also available for lease. Nearby amenities include the Wilton Hotel and a new 190-unit luxury rental development. This presents a unique opportunity to establish a business in a vibrant and convenient location. The property's APN is 494226260050.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $980,000
      ML approach
      $1,060,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,400,000
      6.5%
      $1,290,000
      7%
      $1,200,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $678,000
      Market price range: $418k - $1.18M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wilton Manors
    County
    Broward
    State
    Florida
    Longitude
    -80.1316
    Latitude
    26.1582
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $12,497
    $81,850
    $545,860
    $627,710
    -
    $81,850
    $545,860
    $627,710

    Comparable in this City

    • Value Estimation
      $2,035,000
      7,507 SF

      1215 17th Ct

      WAREHOUSE, STORAGE • 7,507 SF
      1215 17th Ct, Fort Lauderdale, FL 33305-3160
      View Details
    • Value Estimation by Request
      2,494 SF

      2125 Dixie Hwy

      WAREHOUSE, STORAGE • 2,494 SF
      2125 Dixie Hwy, Wilton Manors, FL 33305-2204
      View Details
    • Value Estimation
      $675,000
      4,212 SF

      2400 Dixie Hwy, Unit 2406

      MINI-WAREHOUSE, STORAGE • 4,212 SF
      2400 Dixie Hwy, Wilton Manors, FL 33305-2240
      View Details
    • Value Estimation
      $14,355,000
      39,576 SF

      1600 12th Ter

      WAREHOUSE, STORAGE • 39,576 SF
      1600 12th Ter, Fort Lauderdale, FL 33305-3131
      View Details
    • Value Estimation
      $3,290,000
      4,175 SF

      2449 13th Ave

      MINI-WAREHOUSE, STORAGE • 4,175 SF
      2449 13th Ave, Wilton Manors, FL 33305-1303
      View Details
    • Value Estimation
      $650,000
      3,357 SF

      2420 Dixie Hwy, Unit 2426

      MINI-WAREHOUSE, STORAGE • 3,357 SF
      2420 Dixie Hwy, Wilton Manors, FL 33305-2240
      View Details

    Similar Nearby for Sale

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      0.22 Acres

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      Buildable waterfront lot in gated East Fort Lauderdale neighborhood.
      2212 NE 17Th Pl, Fort Lauderdale, FL 33305
      View Details
    • $2,899,000
      0.32 Acres

      Waterfront Land in Fort Lauderdale

      Waterfront lot with plans for a new home.
      2501 Middle River Dr, Fort Lauderdale, FL 33305
      View Details
    • $695,000
      2,340 SF

      Renovated Duplex in Middle River

      Spacious, renovated duplex in Fort Lauderdale's Middle River neighborhood.
      1015 NE 17Th Ct, Fort Lauderdale, FL 33305
      View Details

    Similar Nearby for Lease

    • $2,900 /Mo

      Updated Apartment Near Fort Lauderdale Beach

      Updated, furnished one-bedroom apartment near the beach and Intracoastal.
      2033 NE 33Rd Ave, Fort Lauderdale, FL 33305
      View Details
    • $17 SF/Yr
      7,200 SF

      Renovated Office Space Available

      Recently renovated office space for lease, immediate occupancy.
      1650 SE 17Th St, Fort Lauderdale, FL 33305
      View Details
    • $60 SF/Yr
      800 SF

      Turnkey Restaurant/Bar Space on Wilton

      Equipped restaurant/bar with courtyard on Wilton Drive for rent.
      2205-2227 Wilton Dr, Wilton Manors, FL 33305
      View Details
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    1160 24th Ct
    Wilton Manors, FL 33305-2234
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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
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