Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    509 3rd Ave Fort Lauderdale, FL 33301-3235

    • Commercial land
    • 3,801 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    May 23, 2022
    $1,200,000
    Value Estimations
    $1,215,000
    Show details
    Cap Rate Potential
    4.7%
    Commercial land
    Location Intelligence
    Property ID
    US18-7811631
    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

    • Seagull Enterprises / Boat Rental Service
    • Prime United Marketing / Business Management Consultant
    • Free Energy Survey / Land Surveyor

    Property Details for 509 3rd Ave

    Year built
    1962
    Construction
    CONCRETE
    Lot size
    0.13 lot acres
    Property size
    3,801 SF
    Zone code
    RAC-CC
    Property type
    Commercial land
    APN
    50-42-03-02-0511
    APU
    504203020511

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,245,000
      ML approach
      $1,220,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $970,000
      6.5%
      $895,000
      7%
      $835,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,061,000
      Market price range: $397k - $2.01M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.141
    Latitude
    26.1283
    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
    $23,094
    $1,145,630
    $0.00
    $1,145,630
    -
    $1,145,630
    $0.00
    $1,145,630

    Comparable in this City

    • Value Estimation by Request
      0.16 Acres

      500 3rd Ave

      VACANT COMMERCIAL LAND • 0.16 Acres
      500 3rd Ave, Fort Lauderdale, FL 33301-3236
      View Details
    • Value Estimation
      $10,065,000
      0.57 Acres

      1601 Las Olas Blvd

      VACANT COMMERCIAL LAND • 47,530 SF
      1601 Las Olas Blvd, Fort Lauderdale, FL 33301-2357
      View Details
    • Value Estimation
      $835,000
      0.17 Acres

      5 Ave

      VACANT COMMERCIAL LAND • 2,700 SF
      5 Ave, Fort Lauderdale, FL 33301
      View Details
    • Value Estimation
      $16,305,000
      0.52 Acres

      532 1st Ave

      VACANT COMMERCIAL LAND • 0.52 Acres
      532 1st Ave, Fort Lauderdale, FL 33301
      View Details
    • Value Estimation
      $20,830,000
      0.12 Acres

      117 2nd St

      VACANT COMMERCIAL LAND • 0.12 Acres
      117 2nd St, Fort Lauderdale, FL 33301-1011
      View Details
    • Value Estimation by Request
      0.15 Acres

      909 2nd St, Unit 1

      VACANT COMMERCIAL LAND • 2,057 SF
      909 2nd St, Fort Lauderdale, FL 33301-3601
      View Details

    Similar Nearby for Sale

    • $1,250,000

      Flagler Village Development Opportunity

      Three-parcel assemblage in Flagler Village, ideal for redevelopment.
      440 NE 1St Ave, Fort Lauderdale, FL 33301
      View Details
    • $3,000,000

      Land Near Brightline Station

      Prime land adjacent to Brightline Station in Fort Lauderdale.
      209 Sw 2Nd St, Fort Lauderdale, FL 33301
      View Details
    • $2,000,000

      Downtown Fort Lauderdale Development Opportunity

      4,091 SF property in booming downtown Fort Lauderdale.
      412 N Andrews Ave, Fort Lauderdale, FL 33301
      View Details
    • $18,000,000
      39,826 SF

      Fort Lauderdale Landmark Land

      Landmark building site near Las Olas Blvd.
      800 East Broward Blvd, Fort Lauderdale, FL 33301
      View Details
    • $1,690,000

      Prime Retail Corner Lot

      High-visibility corner lot with shared parking and excellent access.
      1091 NE 4Th Ave, Fort Lauderdale, FL 33301
      View Details
    • $920,000
      0.14 Acres

      Flagler Village Land Opportunity

      6,375 sq ft land in developing Flagler Village.
      Fort Lauderdale, FL 33301
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land for Custom Build-to-Suite

      Land available for custom build-to-suite or long-term land lease.
      N 10Th Ter W, Fort Lauderdale, FL 33301
      View Details
    • Contact for pricing
      266,620 SF

      Tower 101 Office Space for Lease

      Upscale Office Building, 266,620 sq ft
      101 3Rd Ave, Fort Lauderdale, FL 33301
      View Details
    • $34 SF/Yr
      38,325 SF

      Downtown Fort Lauderdale Office Space

      Prime Office Suites, 2,031-5,600 SF
      633 Andrews Ave, Fort Lauderdale, FL 33301
      View Details
    • $54 SF/Yr
      2,669 SF

      Downtown Fort Lauderdale Office Space

      2,669 SF office space in downtown Fort Lauderdale.
      515 E Las Olas Blvd, Fort Lauderdale, FL 33301
      View Details
    • $25 SF/Yr
      7,048 SF

      Flagler Village Office Space Available

      Office space in prime location with city views.
      634 Ne 3Rd Ave, Fort Lauderdale, FL 33301
      View Details
    • $34 SF/Yr
      2,660 SF

      Thrive Arts District Retail Opportunity

      Retail, office, or food and beverage spaces available for lease.
      710-726 Nw 5Th Ave, Fort Lauderdale, FL 33301
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    509 3rd Ave
    Fort Lauderdale, FL 33301-3235
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.