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Property profile & analytics
OFF-MARKET
Estimated value
$5,370,000
Warehouses
1190 23rd Ave 1196 Fort Lauderdale, FL 33311-5738
Entity Owned
23-yr Hold
~
Est. High Equity
Property ID
US18-3343940
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1961
Construction
CONCRETE
Total area
32,280 SF
Lot
1.37 ac (59,794 SF)
Zoning code
I
APN
49-42-32-00-0280
UPID
US18-3343940
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.88M
Comparable Approach
Comparable
$6.61M
Blend (final)
Blend
$5.37M
Owner & transaction history
L & P Properties LLC · 23 yrs held
L & P Properties LLC
since 2003
1 recorded transaction
Zoning & alternative use
I · Fort Lauderdale, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$8.6M
+15.3%
Retail stores
$8.1M
+8.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fort Lauderdale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Lauderdale submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$6,370,000
6.5%
$5,880,000
7%
$5,460,000
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
Blend value · Realmo final
$5.37M
Range $4.83M – $5.91M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$166 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$64,291
Tax year 2023
Assessed value
$3,943,300
Assessed 2023
Previous assessed
$3,279,960
+20.2% YoY
Effective rate
1.63%
On assessed value
Assessed land
$538,200
Assessed improvement
$3,405,100
Land market value
$538,200
Improvement market value
$3,405,100
Total market value
$3,943,300
Applied tax rate
312.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1961
Construction
CONCRETE
Heating
NONE
Cooling
YES
Stories
1
Total area
32,280 SF
Lot
1.37 ac (59,794 SF)
Zoning code
I
APN
49-42-32-00-0280
UPID
US18-3343940
Jurisdiction
BROWARD
Metro division
FORT LAUDERDALE-POMPANO BEACH-DEERFIELD BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
I · Fort Lauderdale, FL
Zoning I · permitted uses
I · Fort Lauderdale, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fort Lauderdale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$7.5M
COMMERCIAL (GENERAL)
Est. value
$8.6M
RETAIL STORES
Est. value
$8.1M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1961
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Lot
1.37 ac
Current owner
From public records · entity-resolved
L & P Properties LLC
Entity
Mailing address
1196 NW 23RD AVE, FORT LAUDERDALE, FL 33311-5738
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 11, 2003
$1,360,000
L & P Properties LLC
A & C Properties I INC
Grant Deed
$975,000 · Southtrust Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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