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    Property profile & analytics

    548 32nd St Oakland Park, FL 33334-2134

    • Warehouses
    • 1,464 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    Oct 09, 2024
    $600,000
    Value Estimations
    $520,000
    Show details
    Cap Rate Potential
    6.3%
    Warehouses
    Location Intelligence
    Property ID
    US18-4203392
    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

    • Warehouses

    Property Details for 548 32nd St

    Year built
    1956
    Construction
    CONCRETE
    Lot size
    0.13 lot acres
    Property size
    1,464 SF
    Zone code
    B-3
    Property type
    Warehouses
    APN
    49-42-23-05-5910
    APU
    494223055910

    Description

    This exceptional investment opportunity presents a 2,584 square foot flex space in Oakland Park, Florida. The property, located at 548 NE 32nd St, 33334, features two separate structures situated on a gated 0.13-acre (5,712 square foot) lot with B3 zoning. The property boasts ample parking and a parapet wall ideal for signage. Its convenient location offers easy access to major transportation arteries, including I-95 and US-1, less than two miles away. The site is also just one block north of E Oakland Park Blvd and five blocks from Dixie Highway. This location benefits from its proximity to Oakland Park's Downtown Core and Central Business District, and is poised for growth with over 1,000 new residential units planned within a one-mile radius over the next two years. Currently occupied by a month-to-month tenant, this property presents a fantastic owner-user opportunity or the potential to increase rental income to market rates. The net rentable square footage is 2,854 square feet. The asking price is $700,000 with a gross lease type and single tenancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $390,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $405,000
      6.5%
      $375,000
      7%
      $345,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $330,000
      Market price range: $110k - $364k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $540,000
      Current use
      COMMERCIAL (GENERAL)
      $760,000
      Change: +41% Conversion: Difficult
      MEDICAL BUILDING
      $680,000
      Change: +27% Conversion: Difficult
      RETAIL STORES
      $580,000
      Change: +7% Conversion: Moderate
      OFFICE BUILDING
      $560,000
      Change: +4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Oakland Park
    County
    Broward
    State
    Florida
    Longitude
    -80.1395
    Latitude
    26.1673
    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
    $6,606
    $51,410
    $239,500
    $290,910
    -
    $51,410
    $239,500
    $290,910

    Comparable in this City

    • Value Estimation by Request
      64,453 SF

      511-545 32Nd St

      Distribution properties • 64,453 SF
      511-545 32Nd St, Oakland Park, FL 33334
      View Details
    • Value Estimation
      $2,725,000
      13,054 SF

      4900 11th Ave

      WAREHOUSE, STORAGE • 13,054 SF
      4900 11th Ave, Oakland Park, FL 33334-3911
      View Details
    • Value Estimation
      $21,200,000
      139,980 SF

      4950 Dixie Hwy

      MINI-WAREHOUSE, STORAGE • 139,980 SF
      4950 Dixie Hwy, Oakland Park, FL 33334-3947
      View Details
    • Value Estimation
      $2,180,000
      12,781 SF

      531 35th St, Unit 551

      MINI-WAREHOUSE, STORAGE • 12,781 SF
      531 35th St, Oakland Park, FL 33334-2113
      View Details
    • Value Estimation
      $2,805,000
      13,326 SF

      522 42nd Ct, Unit 552

      WAREHOUSE, STORAGE • 13,326 SF
      522 42nd Ct, Oakland Park, FL 33334-3114
      View Details
    • Value Estimation
      $1,395,000
      6,673 SF

      3964-4018 5th Ave

      WAREHOUSE, STORAGE • 6,673 SF
      3964-4018 5th Ave, Oakland Park, FL 33334
      View Details

    Similar Nearby for Sale

    • $1,400,000
      0.17 Acres

      Oakland Park Warehouse with Alley

      Spacious warehouse with covered area, convenient access, and light industrial zoning.
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      Leased Flex Space For Sale

      8,000 SF flex space in Oakland Park, Florida.
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      Single Bay Rental Warehouse

      Rental warehouse with office, bathroom, and high overhead door.
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    • $949,900
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      Renovated Flex Office in Oakland

      Renovated flex office space in Oakland Park's Culinary Arts District.
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      Oakland Park Warehouse Portfolio

      Six-Unit Warehouse, 100% Occupied
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    • $4,725,000
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      Fort Lauderdale Industrial Investment Opportunity

      Two-building industrial property with long-term credit lease in Fort Lauderdale.
      1165 Nw 55Th St, Fort Lauderdale, FL 33334
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      2,649 SF

      Oakland Park Warehouse Space Available

      Recently renovated warehouse space available for sublease in Oakland Park.
      4003 NE 6Th Ave, Oakland Park, FL 33334
      View Details
    • $23 SF/Yr
      7,360 SF

      Oakland Park Warehouse For Rent

      Renovated warehouse in Oakland Park with easy I-95 access.
      559 NE 42Nd St, Fort Lauderdale, FL 33334
      View Details
    • New
      $24,000

      Fort Lauderdale Office/Warehouse Space

      Upgraded office and warehouse space in a prime location.
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    • Contact for pricing
      8,100 SF

      Oakland Park Warehouse/Flex Space

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      View Details
    • $6,500 /Mo
      1,295 SF

      Freestanding Office/Warehouse with Yard

      1,295 SF office/warehouse with yard for lease. Easy I-95 access.
      241 NE 32Nd Ct, Fort Lauderdale, FL 33334
      View Details
    • $22 SF/Yr

      Oakland Park Industrial Warehouse Property

      Multi-tenant industrial warehouse with units ranging from 850-3,300 SF.
      519 NE 34Th St, Fort Lauderdale, FL 33334
      View Details
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    548 32nd St
    Oakland Park, FL 33334-2134
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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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