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    3229 Andrews Ave Fort Lauderdale, FL 33316-4109
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    Property profile & analytics

    3229 Andrews Ave, Fort Lauderdale, FL 33316-4109

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    • Industrial properties
    • 4,500 SF
    • 0.30 lot acres
    Off-Market
    Property ID
    US18-0477871
    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
    $1,470,000
    Show details
    Cap Rate Potential
    9.9%
    Industrial properties
    Location Intelligence

    Current Use by Public Records

    • Electronics Unlimited / Department Store

    Property Details for 3229 Andrews Ave

    Year built
    1982
    Construction
    CONCRETE
    Lot size
    0.30 lot acres
    Zone code
    B-3
    Property type
    Industrial properties
    Property subtype
    Industrial live-work properties
    APN
    50-42-22-07-0010
    APU
    504222070010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 25, 2017 — Momune LLC — Deed · related $1.1M · Wells Fargo Bank NA
    Oct 9, 2007 $1,470,000 Momune LLC Pollock Hawkins Driggers Grant Deed $1.4M · Pollock Hawkins Driggers

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,150,000
      6.5%
      $1,060,000
      7%
      $985,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,438,000
      Market price range: $414k - $2.33M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,330,000
      Current use
      OFFICE BUILDING
      $2,360,000
      Change: +1% Conversion: Easy
      MEDICAL BUILDING
      $2,095,000
      Change: -10% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,020,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.139
    Latitude
    26.0842
    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
    $29,153
    $172,240
    $1,226,650
    $1,398,890
    -
    $172,240
    $1,226,650
    $1,398,890

    Comparable in this City

    • Value Estimation
      $2,870,000
      8,139 SF

      2101 Andrews Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      2101 Andrews Ave, Fort Lauderdale, FL 33316-3468
      View Details
    • Value Estimation by Request
      796 SF

      1227 Andrews Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL)
      1227 Andrews Ave, Fort Lauderdale, FL 33316-1835
      View Details
    • Value Estimation
      $740,000
      3,600 SF

      700 32nd Ct

      INDUSTRIAL (GENERAL)
      700 32nd Ct, Fort Lauderdale, FL 33316-4133
      View Details
    • Value Estimation
      $1,425,000
      8,419 SF

      901-909 24th St

      INDUSTRIAL (GENERAL)
      901-909 24th St, Fort Lauderdale, FL 33316
      View Details
    • Value Estimation
      $8,465,000
      2,250 SF

      1180 24th St

      INDUSTRIAL (GENERAL)
      1180 24th St, Fort Lauderdale, FL 33316
      View Details
    • Value Estimation
      $1,585,000
      9,455 SF

      1150 24th St

      INDUSTRIAL (GENERAL)
      1150 24th St, Fort Lauderdale, FL 33316
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Mixed-Use Building Near Downtown

      Office and retail spaces available near major transportation routes.
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      40,840 SF

      Fort Lauderdale Manufacturing/Warehouse Facility

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      40,840 SF

      Fort Lauderdale Manufacturing/Warehouse Facility

      40,840 SF manufacturing/warehouse near major transportation hubs.
      3300 Se 6Th Ave, Fort Lauderdale, FL 33316
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    • Contact for pricing
      10,000 SF

      Fort Lauderdale Warehouse with Showroom

      10,000 SF warehouse with showroom and outside storage.
      Main St, Fort Lauderdale, FL 33316
      View Details

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      50,000 SF

      Port Everglades Class A Warehouse

      199,643 SF Class A warehouse near Port Everglades.
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    • $0.03 SF/Yr
      9,915 SF

      Prime Location Office Suites Available

      Office suites for rent in Fort Lauderdale's yachting capital.
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    • Contact for pricing
      7,200 SF

      Renovated Office Space Available

      Recently renovated office space for lease, immediate occupancy.
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      1,327 SF

      Retail and Office Space Available

      Retail and office spaces for lease in Fort Lauderdale.
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    • Contact for pricing
      2,675 SF

      Fort Lauderdale Boutique Office Sublease

      Professional office space in renovated building, convenient Fort Lauderdale location.
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    • $32 SF/Yr
      14,287 SF

      Fort Lauderdale Office Space Available

      14,287 SF office space for rent in Fort Lauderdale.
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      View Details
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    Fort Lauderdale, FL 33316-4109
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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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    3229 Andrews Ave, Fort Lauderdale, FL, 33316
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