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    2948 Federal Hwy Fort Lauderdale, FL 33306-1402
    Property profile & analytics

    2948 Federal Hwy, Fort Lauderdale, FL 33306-1402

    View on Map
    • Retail space
    • 6,978 SF
    • 0.39 lot acres
    Off-Market
    Property ID
    US18-0846092
    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.
    Value Estimations
    $1,920,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Natuzzi Italia / Furniture & Home Goods / Home Decor Store
    • Yes Appliance Repair / Home Appliance Store

    Property Details for 2948 Federal Hwy

    Year built
    2001
    Construction
    CONCRETE
    Lot size
    0.39 lot acres
    Zone code
    B-1
    Property type
    Retail space
    APN
    49-42-25-04-4590
    APU
    494225044590

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 16, 2018 $2,705,000 Mmg Of Kandeatlantic LLC Mobile Home Country Club Warranty Deed $1.9M · Mercantil Bk NA
    Jun 14, 2005 $3,850,000 Mobile Home Country Club Ratsmouth Realty Corp Grant Deed $2.1M · Principal Life Insurance Co

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,070,000
      6.5%
      $1,910,000
      7%
      $1,775,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,491,000
      Market price range: $320k - $1.49M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,645,000
      Current use
      WAREHOUSE, STORAGE
      $2,430,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1154
    Latitude
    26.1651
    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
    $53,858
    $421,380
    $2,231,010
    $2,652,390
    -
    $421,380
    $2,231,010
    $2,652,390

    Comparable in this City

    • Value Estimation
      $2,575,000
      9,360 SF

      2949 Federal Hwy

      RETAIL STORES (PERSONAL SERVICES)
      2949 Federal Hwy, Fort Lauderdale, FL 33306-1468
      View Details
    • Value Estimation
      $2,880,000
      13,317 SF

      2930 Federal Hwy

      RETAIL STORES (PERSONAL SERVICES)
      2930 Federal Hwy, Fort Lauderdale, FL 33306-1402
      View Details
    • Value Estimation
      $1,685,000
      7,036 SF

      2831 Oakland Park Blvd

      RETAIL STORES (PERSONAL SERVICES)
      2831 Oakland Park Blvd, Fort Lauderdale, FL 33306-1803
      View Details
    • Value Estimation
      $7,320,000
      15,979 SF

      2860 Federal Hwy

      RETAIL STORES (PERSONAL SERVICES)
      2860 Federal Hwy, Fort Lauderdale, FL 33306-1426
      View Details
    • Value Estimation
      $1,485,000
      4,613 SF

      2808 Federal Hwy

      RETAIL STORES (PERSONAL SERVICES)
      2808 Federal Hwy, Fort Lauderdale, FL 33306-1426
      View Details
    • Value Estimation by Request
      1,700 SF

      3045 Federal Hwy Ste, Unit 38

      RETAIL STORES (PERSONAL SERVICES)
      3045 Federal Hwy Ste, Fort Lauderdale, FL 33306-1415
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Times Square Plaza Leasing Opportunity

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      Fort Lauderdale Retail Asset

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      Prime Fort Lauderdale Storefront

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      Oakland Park Blvd Flex Space

      Well-located flex space with office and open-use area.
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    Similar Nearby for Lease

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      2,900 SF

      Retail Space in Prime Location

      Retail space in busy Fort Lauderdale shopping center for rent.
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    • Contact for pricing
      3,146 SF

      Oaklyn Campus Office/Retail Space

      Office and retail spaces available in a prime location.
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    • $70 SF/Yr

      Oakland Park Live-Work-Play Retail Space

      Ground-floor retail in high-energy Oaklyn Campus with built-in customer base.
      3333 N Federal Hwy, Oakland Park, FL 33306
      View Details
    • $61 SF/Yr

      Oakland Park Commercial Space

      Commercial space available for rent in Oakland Park, Florida.
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    • $41 SF/Yr

      Retail Space For Rent

      Retail space available for lease in Oakland Park, Florida.
      3101 N Federal Hwy, Oakland Park, FL 33306
      View Details
    • New
      $28 SF/Yr
      Pending

      Corner Retail Unit in Fort Lauderdale

      Premier corner retail space with high visibility in Fort Lauderdale.
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    Fort Lauderdale, FL 33306-1402
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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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