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    Property profile & analytics

    1190 23rd Ave, Unit 1196 Fort Lauderdale, FL 33311-5738

    • Warehouses
    • 32,280 SF
    • 1.37 lot acres
    OFF-MARKET
    Value Estimations
    $5,370,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3343940
    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.

    Current Use by Public Records

    • Warehouses

    Property Details for 1190 23rd Ave

    Year built
    1961
    Construction
    CONCRETE
    Lot size
    1.37 lot acres
    Property size
    32,280 SF
    Zone code
    I
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    49-42-32-00-0280
    APU
    494232000280

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,370,000
      6.5%
      $5,880,000
      7%
      $5,460,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,610,000
      Market price range: $5.71M - $10.6M
      AI Estimate
      $3,617,000
      Market price range: $1.97M - $6.62M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $7,495,000
      Current use
      COMMERCIAL (GENERAL)
      $8,640,000
      Change: +15% Conversion: Difficult
      RETAIL STORES
      $8,110,000
      Change: +8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1708
    Latitude
    26.1398
    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
    $64,291
    $538,200
    $3,405,100
    $3,943,300
    -
    $538,200
    $3,405,100
    $3,943,300

    Comparable in this City

    • Value Estimation
      $6,500,000
      35,239 SF

      3435 19th St, Unit 3699

      MINI-WAREHOUSE, STORAGE • 35,239 SF
      3435 19th St, Lauderdale Lakes, FL 33311-4224
      View Details
    • Value Estimation
      $2,645,000
      21,188 SF

      1560 23rd Ave, Unit 1574

      MINI-WAREHOUSE, STORAGE • 21,188 SF
      1560 23rd Ave, Fort Lauderdale, FL 33311-5149
      View Details
    • Value Estimation
      $38,500,000
      205,012 SF

      1650 Oakland Park Blvd

      MINI-WAREHOUSE, STORAGE • 205,012 SF
      1650 Oakland Park Blvd, Oakland Park, FL 33311-1514
      View Details
    • Value Estimation
      $12,625,000
      81,213 SF

      901 1st St

      MINI-WAREHOUSE, STORAGE • 81,213 SF
      901 1st St, Fort Lauderdale, FL 33311-8901
      View Details
    • Value Estimation
      $2,405,000
      12,776 SF

      540 Sunrise Blvd, Unit 550

      MINI-WAREHOUSE, STORAGE • 12,776 SF
      540 Sunrise Blvd, Fort Lauderdale, FL 33311-7234
      View Details
    • Value Estimation
      $885,000
      6,080 SF

      106 11th Ave

      MINI-WAREHOUSE, STORAGE • 6,080 SF
      106 11th Ave, Fort Lauderdale, FL 33311-8946
      View Details

    Similar Nearby for Sale

    • $6,500,000
      20,427 SF

      Fort Lauderdale Industrial Property

      High-traffic Auto Shop & Warehouse
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      View Details
    • $4,500,000
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      Fort Lauderdale Warehouse - $4.5M

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      Oakland Park Warehouse with Bays

      Two-bay warehouse in established industrial area, suitable for owner-user.
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    • Contact for pricing
      144,016 SF

      Fort Lauderdale Retail/Industrial/Showroom Space

      Variety of spaces available in busy shopping/commerce center.
      3849-3999 NW 19Th St, Fort Lauderdale, FL 33311
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Warehouse Space - NW 19th Street

      3,000 SF Warehouse; Grade-Level Doors
      3603 19Th St, Fort Lauderdale, FL 33311
      View Details
    • $19 SF/Yr
      2,213 SF

      Lauderdale Lakes Industrial Space

      Industrial park with excellent highway access and various unit sizes.
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      View Details
    • $17 SF/Yr
      3,650 SF

      Lauderdale Lakes Industrial Park Space

      Industrial park with flexible spaces, excellent access, and security.
      2731-2754 NW 30Th Ave, Oakland Park, FL 33311
      View Details
    • $23 SF/Yr
      4,065 SF

      Renovated Fort Lauderdale Warehouse Space

      Newly renovated warehouse with loading dock and high ceilings.
      2906-2912 NW 28Th St, Lauderdale Lakes, FL 33311
      View Details
    • $1,562 /Mo

      Warehouse Storage Space For Rent

      750 SF warehouse with tall ceilings and grade-level doors.
      1814 NW 38Th Ct, Lauderhill, FL 33311
      View Details
    • $23 SF/Yr

      Oakland Park Industrial Park Space

      Industrial park space for lease near major highways.
      2910 NW 28Th St, Fort Lauderdale, FL 33311
      View Details
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    1190 23rd Ave, Unit 1196
    Fort Lauderdale, FL 33311-5738
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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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