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    320 Hendricks Isle Fort Lauderdale, FL 33301
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    320 Hendricks Isle Fort Lauderdale, FL 33301

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    • Commercial real estate
    • 7,702 SF
    • 0.28 lot acres
    Off-Market
    Property ID
    US18-4041774
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 320 Hendricks Isle

    Lot size
    0.28 lot acres
    Property size
    7,702 SF
    Property type
    Commercial real estate
    APN
    50-42-02-19-0780, 504202190760

    Description

    This exceptional value-add investment opportunity presents two, two-story apartment buildings totaling 7,702 square feet situated on a 0.28-acre lot (100ft x 125ft) in desirable Fort Lauderdale, Florida (33301). The property, encompassing addresses 320 and 322 Hendricks Isle, boasts six units currently operating as Airbnbs, offering immediate income potential. With RMM-25 zoning, the property presents significant upside potential. The buildings, constructed in 1970 and 1976, offer ten parking spaces and a remarkable amenity: six boat slips, providing unparalleled access to the waterways. The property's prime location offers direct access to both downtown Fort Lauderdale and Las Olas Beach. The asking price is $4,400,000, representing a price per square foot of $571.28 and a price per unit of $733,333.33. The current Net Operating Income (NOI) stands at $185,476, yielding a 4.22% cap rate. This is a rare opportunity to acquire a multifamily property with significant upside in a highly sought-after location. The property is ground lease free and includes APNs 50-42-02-19-0780 and 504202190760.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1217688
    Latitude
    26.1262707

    Comparable in this City

    • New
      $3,300,000
      0.28 Acres

      Victoria Park Multifamily Investment Opportunity

      14-unit apartment building in Fort Lauderdale's Victoria Park.
      105 NE 16Th Ter, Fort Lauderdale, FL 33301
      View Details
    • $3,750,000

      Victoria Park Multifamily Investment Opportunity

      14-unit apartment building in Fort Lauderdale's Victoria Park neighborhood.
      105 Northeast 16Th Ter, Fort Lauderdale, FL 33301
      View Details

    Similar Nearby for Sale

    • New
      $3,300,000
      0.28 Acres

      Victoria Park Multifamily Investment Opportunity

      14-unit apartment building in Fort Lauderdale's Victoria Park.
      105 NE 16Th Ter, Fort Lauderdale, FL 33301
      View Details
    • $3,750,000

      Victoria Park Multifamily Investment Opportunity

      14-unit apartment building in Fort Lauderdale's Victoria Park neighborhood.
      105 Northeast 16Th Ter, Fort Lauderdale, FL 33301
      View Details
    • $4,600,000

      Waterfront Apartments with Dock Slips

      Six-unit apartment building with five deep water dock slips.
      37 Hendricks Isle, Fort Lauderdale, FL 33301
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      25,243 SF

      Mixed-Use Space on Las Olas

      Office, retail, and apartments in a mixed-use development.
      201 E Las Olas Blvd, Fort Lauderdale, FL 33301
      View Details
    • $1,800 /Mo

      Apartment For Rent

      Apartment available for rent, building under construction.
      90 Isle Of Venice Dr, Fort Lauderdale, FL 33301
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    • $12 SF/Yr

      Las Olas Boutique Apartment Living

      Boutique apartment near Las Olas with modern amenities.
      225 SE 16Th Ave, Fort Lauderdale, FL 33301
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    • $12 SF/Yr

      Renovated Duplex in Victoria Park

      Fully furnished, renovated duplex near downtown and beaches.
      1710 NE 5Th Ct, Fort Lauderdale, FL 33301
      View Details
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    Fort Lauderdale, FL 33301
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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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