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Property profile & analytics
OFF-MARKET
Estimated value
$25,590,000
Warehouses
421 1st Ave Fort Lauderdale, FL 33301-3201
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US19-0735919
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2009
Construction
CONCRETE
Total area
85,479 SF
Lot
0.51 ac (22,179 SF)
Zoning code
RAC-UV
APN
50-42-03-02-1441
UPID
US19-0735919
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
IGotYu Car Towings (Bike/Boat/Book/etc) Store Auto Parts Store
-
Morningstar Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.58M
Comparable Approach
Comparable
$24.36M
Blend (final)
Blend
$25.59M
Owner & transaction history
Msc Flagler LLC · 4 yrs held
Msc Flagler LLC
since 2022
Last sale
$29.0M
1 recorded transaction
Zoning & alternative use
RAC-UV · Fort Lauderdale, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$40.2M
+35.0%
Medical building
$39.8M
+33.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fort Lauderdale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Lauderdale submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$30,065,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$16,875,000
6.5%
$15,575,000
7%
$14,465,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$29,750,000
Current use
INDUSTRIAL (GENERAL)
$40,165,000
Change: +35% · Conversion: Easy
MEDICAL BUILDING
$39,830,000
Change: +34% · Conversion: Difficult
Blend value · Realmo final
$25.59M
Range $23.03M – $28.15M · ±10% · vs last sale $28.98M (Apr 12 2022)
Last sale anchor
$28.98M
Apr 12 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$299 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$318,854
Tax year 2023
Assessed value
$15,682,440
Assessed 2023
Previous assessed
$9,211,810
+70.2% YoY
Effective rate
2.03%
On assessed value
Assessed land
$1,996,110
Assessed improvement
$13,686,330
Land market value
$1,996,110
Improvement market value
$13,686,330
Total market value
$15,682,440
Applied tax rate
9,312.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2009
Construction
CONCRETE
Heating
NONE
Stories
6
Total area
85,479 SF
Lot
0.51 ac (22,179 SF)
Zoning code
RAC-UV
APN
50-42-03-02-1441
UPID
US19-0735919
Jurisdiction
BROWARD
Metro division
FORT LAUDERDALE-POMPANO BEACH-DEERFIELD BEACH, FL METROPOLITAN DIVISION
Zoning & alternative use
RAC-UV · Fort Lauderdale, FL
Zoning RAC-UV · permitted uses
RAC-UV · Fort Lauderdale, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fort Lauderdale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$29.8M
INDUSTRIAL (GENERAL)
Est. value
$40.2M
MEDICAL BUILDING
Est. value
$39.8M
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2009
Construction
CONCRETE
Heating
NONE
Stories
6
Lot
0.51 ac
Current owner
From public records · entity-resolved
Msc Flagler LLC
Entity
Free & Clear · 4 yrs held
Mailing address
725 PARK CTR DR, MATTHEWS, NC 28105-5012
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 12, 2022
$28,980,000
Msc Flagler LLC
Flagler Storage Ltd
Special Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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