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Property profile & analytics
OFF-MARKET
Estimated value
$740,000
Office buildings
1224 1st Ave Fort Lauderdale, FL 33315-1502
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-2438591
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1926
Construction
WOOD FRAME
Total area
672 SF
Lot
0.14 ac (6,250 SF)
Zoning code
SRAC-SAW
APN
50-42-15-10-0130
UPID
US18-2438591
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
Current use
Occupant on record · Public records
-
Design Space Associates Inc Interior Design Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$627k
Blend (final)
Blend
$740k
Owner & transaction history
1218 & 1224 Marine LLC · 5 yrs held
1218 & 1224 Marine LLC
since 2020
Last sale
$800,000
4 recorded transactions
Zoning & alternative use
SRAC-SAW · Fort Lauderdale, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$545,000
+71.2%
Neighborhood: shopping center
$505,000
+58.9%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$545,000
Change: +71% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$505,000
Change: +59% · Conversion: Difficult
Blend value · Realmo final
$740k
Range $666k – $814k · ±10% · vs last sale $800k (Sep 3 2020)
Last sale anchor
$800k
Sep 3 2020
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
$1,101 / 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
$11,421
Tax year 2023
Assessed value
$526,880
Assessed 2023
Previous assessed
$501,010
+5.2% YoY
Effective rate
2.17%
On assessed value
Assessed land
$75,000
Assessed improvement
$451,880
Land market value
$75,000
Improvement market value
$451,880
Total market value
$526,880
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1926
Construction
WOOD FRAME
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Bathrooms
2
Total area
672 SF
Lot
0.14 ac (6,250 SF)
Zoning code
SRAC-SAW
APN
50-42-15-10-0130
UPID
US18-2438591
Jurisdiction
BROWARD
Metro division
FORT LAUDERDALE-POMPANO BEACH-DEERFIELD BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
SRAC-SAW · Fort Lauderdale, FL
Zoning SRAC-SAW · permitted uses
SRAC-SAW · 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
AUTO REPAIR, GARAGE
Est. value
$545,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$505,000
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1926
Construction
WOOD FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
2
Lot
0.14 ac
Current owner
From public records · entity-resolved
1218 & 1224 Marine LLC
Entity
Mailing address
1218 SW 1ST AVE, FORT LAUDERDALE, FL 33315-1502
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2020
—
1218 & 1224 Marine LLC
—
Deed
related
$400,000 · Citibank
Sep 3, 2020
$800,000
1218 & 1224 Marine LLC
Ronald M Hess
Warranty Deed
$320,000 · Citibank
—
—
1218 & 1224 Marine LLC
—
Loan Modification
related
$9,000 · Citibank
—
—
1218 & 1224 Marine LLC
—
Deed Of Trust
related
$400,000 · Citibank
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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