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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1522 23rd Ave, Unit 1550 Fort Lauderdale, FL 33311-5149

    • Warehouses
    • 16,790 SF
    • 1.74 lot acres
    OFF-MARKET
    Value Estimations
    $4,395,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5520255
    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 1522 23rd Ave

    Year built
    1980
    Construction
    CONCRETE
    Lot size
    1.74 lot acres
    Property size
    16,790 SF
    Zone code
    I
    Property type
    Warehouses
    APN
    49-42-32-00-0020
    APU
    494232000020

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,650,000
      6.5%
      $4,290,000
      7%
      $3,985,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,534,000
      Market price range: $2.97M - $5.53M
      AI Estimate
      $3,364,000
      Market price range: $1.02M - $3.44M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $3,895,000
      Current use
      COMMERCIAL (GENERAL)
      $4,495,000
      Change: +15% Conversion: Difficult
      RETAIL STORES
      $4,220,000
      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
    -80.1709
    Latitude
    26.1454
    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
    $67,664
    $680,970
    $2,987,040
    $3,668,010
    -
    $680,970
    $2,987,040
    $3,668,010

    Comparable in this City

    • Value Estimation by Request
      5,250 SF

      1814-1896 38Th Ave

      Flex space • 5,250 SF
      1814-1896 38Th Ave, Lauderhill, FL 33311
      View Details
    • Value Estimation by Request
      144,016 SF

      3849-3999 19Th St

      Distribution properties • 144,016 SF
      3849-3999 19Th St, Lauderdale Lakes, FL 33311
      View Details
    • Value Estimation by Request
      1,808 SF

      800 27th Ave

      WAREHOUSE, STORAGE • 1,808 SF
      800 27th Ave, Fort Lauderdale, FL 33311-6768
      View Details
    • Value Estimation
      $795,000
      3,440 SF

      706 27th Ave1-14

      WAREHOUSE, STORAGE • 3,440 SF
      706 27th Ave1-14, Fort Lauderdale, FL 33311-6639
      View Details
    • Value Estimation
      $1,685,000
      11,055 SF

      2951 27th St, Unit 2959

      WAREHOUSE, STORAGE • 11,055 SF
      2951 27th St, Lauderdale Lakes, FL 33311-2040
      View Details
    • Value Estimation
      $3,195,000
      12,120 SF

      2200 29th St, Unit 2258

      WAREHOUSE, STORAGE • 12,120 SF
      2200 29th St, Oakland Park, FL 33311-2145
      View Details

    Similar Nearby for Sale

    • 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
    • $1,200,000

      Fort Lauderdale Warehouse Investment

      Prime 14,248 sq ft lot, high-growth area.
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    • $970,000
      3,659 SF

      Income Producing Small Bay Industrial

      Small bay industrial property with three tenants in Fort Lauderdale.
      2600-2650 NW 4Th St, Fort Lauderdale, FL 33311
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    • $2,650,000

      Leased Warehouse with High Traffic

      Leased warehouse on corner lot with below market rents.
      828 NW 1St St, Fort Lauderdale, FL 33311
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    • $4,999,999

      Lauderhill Warehouse on Large Lot

      Warehouse over 20,000 SF on 51,000 SF lot.
      1612 Nw 38Th Ave, Fort Lauderdale, FL 33311
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      Renovated Warehouse in Fort Lauderdale

      Renovated warehouse with office, parking, and redevelopment potential.
      15 NW 9Th Ave, Fort Lauderdale, FL 33311
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    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.
      2951-2961 NW 27Th St, Lauderdale Lakes, FL 33311
      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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    Fort Lauderdale, FL 33311-5149
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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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