Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1508 3rd Ave Fort Lauderdale, FL 33316-2502

    • Medical offices
    • 1,096 SF
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    Nov 02, 2022
    $1,065,000
    Value Estimations
    $1,060,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0231911
    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

    • Sandra Lawrence / Pediatric Rheumatologist
    • Guarneri Ralph MD / Doctor / Surgeon

    Property Details for 1508 3rd Ave

    Year built
    1959
    Construction
    CONCRETE
    Lot size
    0.16 lot acres
    Property size
    1,096 SF
    Zone code
    ROA
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    50-42-15-10-2010
    APU
    504215102010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,105,000
      ML approach
      $1,015,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $890,000
      NEIGHBORHOOD: SHOPPING CENTER
      $825,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1396
    Latitude
    26.1032
    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
    $438
    $122,020
    $219,090
    $341,110
    -
    $122,020
    $219,090
    $341,110

    Comparable in this City

    • Value Estimation by Request
      1,510 SF

      1212 1st Ave

      MEDICAL BUILDING • 1,510 SF
      1212 1st Ave, Fort Lauderdale, FL 33316-1802
      View Details
    • Value Estimation by Request
      1,213 SF

      1627 Andrews Ave

      MEDICAL BUILDING • 1,213 SF
      1627 Andrews Ave, Fort Lauderdale, FL 33316-2509
      View Details
    • Value Estimation by Request
      1,429 SF

      301 16th St

      MEDICAL BUILDING • 1,429 SF
      301 16th St, Fort Lauderdale, FL 33316-2505
      View Details
    • Value Estimation
      $1,250,000
      2,713 SF

      2000 Andrews Ave

      MEDICAL BUILDING • 2,713 SF
      2000 Andrews Ave, Fort Lauderdale, FL 33316-3430
      View Details
    • Value Estimation
      $1,590,000
      5,553 SF

      1726 3rd Ave

      MEDICAL BUILDING • 5,553 SF
      1726 3rd Ave, Fort Lauderdale, FL 33316-2514
      View Details
    • Value Estimation
      $1,085,000
      3,333 SF

      2120-2120 Federal Hwy

      MEDICAL BUILDING • 3,333 SF
      2120-2120 Federal Hwy, Fort Lauderdale, FL 33316
      View Details

    Similar Nearby for Sale

    • $3,277,000
      3,333 SF

      Fort Lauderdale Retail/Office Opportunity

      Freestanding 3,300 SF building on a 0.28-acre corner lot.
      2120 S Federal Hwy, Fort Lauderdale, FL 33316
      View Details
    • $2,950,000
      2,531 SF

      Fort Lauderdale Medical Office Building

      Modern Medical Office, Prime Location, 2,531 SF
      415 12Th St, Fort Lauderdale, FL 33316
      View Details
    • $2,900,000
      5,129 SF

      Fort Lauderdale Office Portfolio

      Prime Downtown Location, Vacant, Investment Opportunity
      1225 2Nd Ave, Fort Lauderdale, FL 33316
      View Details
    • $195,000

      Cliff Lake Villas Co-op Unit

      Bright 55+ co-op near Las Olas and FLL Airport.
      1025 SE 15Th St, Fort Lauderdale, FL 33316
      View Details
    • $549,000

      Harbor Beach Condo with Water Views

      Furnished 2BR/2BA condo in 55+ community near Fort Lauderdale Beach.
      3073 Harbour Dr, Fort Lauderdale, FL 33316
      View Details
    • $1,899,000

      Fort Lauderdale Commercial/Industrial Opportunity

      Prime location near Broward Health, ideal for office or medical.
      1848 SE 1St Ave, Fort Lauderdale, FL 33316
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr
      75,420 SF

      Fort Lauderdale Retail Center

      Prime Retail/Medical Space, Port Everglades Area
      1799 17Th St, Fort Lauderdale, FL 33316
      View Details
    • $20 SF/Yr
      146,953 SF

      Southport Shopping Center: Fort Lauderdale

      Prime Retail/Office Space, Downtown Fort Lauderdale
      1303 17Th St, Fort Lauderdale, FL 33316
      View Details
    • $0.90 SF/Yr
      10,373 SF

      Fort Lauderdale Class A Office Space

      Prime Location, 10,373 sq ft Office
      150 12Th St, Fort Lauderdale, FL 33316
      View Details
    • $29 SF/Yr

      Executive Office Suite in Fort Lauderdale

      Premier office space in the heart of Fort Lauderdale.
      500 SE 15Th St, Fort Lauderdale, FL 33316
      View Details
    • $38 SF/Yr
      5,825 SF

      Efficient Office Space Available

      Move-in ready office space with natural light and free parking.
      888 S Andrews Ave, Fort Lauderdale, FL 33316
      View Details
    • $25 SF/Yr

      Office and Retail Leasing Opportunity

      Office and retail spaces for lease in Fort Lauderdale.
      910 Se 17Th St, Fort Lauderdale, FL 33316
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1508 3rd Ave
    Fort Lauderdale, FL 33316-2502
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.