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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5950 24th Way Fort Lauderdale, FL 33309-2682

    • Warehouses
    • 36,875 SF
    • 5.05 lot acres
    OFF-MARKET
    Value Estimations
    $7,435,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5086827
    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

    • JM Family Aviation / Aviation

    Property Details for 5950 24th Way

    Year built
    1989
    Construction
    CONCRETE
    Lot size
    5.05 lot acres
    Property size
    36,875 SF
    Zone code
    GAA
    Property type
    Warehouses
    APN
    49-42-09-29-0088
    APU
    494209290088

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $10,210,000
      6.5%
      $9,425,000
      7%
      $8,750,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,947,000
      Market price range: $1.60M - $7.15M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $11,785,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1779
    Latitude
    26.2006
    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
    $0.00
    $1,760,710
    $4,538,970
    $6,299,680
    -
    $1,760,710
    $4,538,970
    $6,299,680

    Comparable in this City

    • Value Estimation
      $1,590,000
      7,595 SF

      3700 10th Ave

      WAREHOUSE, STORAGE • 7,595 SF
      3700 10th Ave, Oakland Park, FL 33309-5949
      View Details
    • Value Estimation
      $1,475,000
      8,055 SF

      3500 10th Ave

      WAREHOUSE, STORAGE • 8,055 SF
      3500 10th Ave, Oakland Park, FL 33309-5902
      View Details
    • Value Estimation
      $1,985,000
      10,488 SF

      5190 10th Ter

      WAREHOUSE, STORAGE • 10,488 SF
      5190 10th Ter, Fort Lauderdale, FL 33309-3155
      View Details
    • Value Estimation
      $6,135,000
      36,221 SF

      6600 21st Ave

      WAREHOUSE, STORAGE • 36,221 SF
      6600 21st Ave, Fort Lauderdale, FL 33309-1821
      View Details
    • Value Estimation
      $1,900,000
      8,400 SF

      6510 21st Ave

      WAREHOUSE, STORAGE • 8,400 SF
      6510 21st Ave, Fort Lauderdale, FL 33309-1820
      View Details
    • Value Estimation
      $7,020,000
      32,658 SF

      6351 28th Way

      WAREHOUSE, STORAGE • 32,658 SF
      6351 28th Way, Fort Lauderdale, FL 33309-1799
      View Details

    Similar Nearby for Sale

    • $3,299,000

      Fort Lauderdale Office-Warehouse with AC

      9,400 SF office-warehouse with AC and twenty-one parking spaces.
      6775 NW 15Th Ave, Fort Lauderdale, FL 33309
      View Details
    • $23,500,000

      Pompano Beach Industrial/Office Property

      82,584 SF property on 6.85 acres with ample parking.
      1100 W Mcnab Rd, Fort Lauderdale, FL 33309
      View Details
    • $1,200,000
      4,860 SF

      Fort Lauderdale Warehouse Condo

      Prime location, 4,860 SF warehouse
      5300 12Th Ave, Fort Lauderdale, FL 33309
      View Details
    • $2,500,000
      12,520 SF

      Oakland Park Warehouse Investment

      12,520 SF Warehouse, Value-Add Opportunity
      821-835 45 St, Oakland Park, FL 33309
      View Details
    • Contact for pricing
      82,360 SF

      Fort Lauderdale Commerce Center Flex

      Flex spaces in master-planned business park near major transportation.
      3301-3471 NW 55Th St, Fort Lauderdale, FL 33309
      View Details
    • $2,850,000
      4,950 SF

      Fort Lauderdale Warehouse - $2.85M

      Spacious Warehouse, Excellent Location, Vacant
      815 57Th Ct, Fort Lauderdale, FL 33309
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr
      56,299 SF

      Fort Lauderdale Warehouse Space

      Prime Flex Warehouse, 2,700 SF Available
      3520-3560 56Th St, Fort Lauderdale, FL 33309
      View Details
    • $144 SF/Yr
      78,137 SF

      Pompano Beach Industrial Space

      78,137 SF Flex Space Available
      800 65Th St, Fort Lauderdale, FL 33309
      View Details
    • $23 SF/Yr
      300 SF

      Warehouse Space Near Executive Airport

      Flex space with overhead doors and easy highway access.
      1081-1087 NW 53Rd St, Fort Lauderdale, FL 33309
      View Details
    • $12 SF/Yr
      18,179 SF

      Fort Lauderdale Warehouse/Flex Space

      Warehouse/flex space with heavy power and convenient location.
      701 NW 57Th Pl, Fort Lauderdale, FL 33309
      View Details
    • $1,200,000
      4,860 SF

      Fort Lauderdale Warehouse Condo

      4,860 SF warehouse condo with auto use allowed.
      5300 NW 12Th Ave, Fort Lauderdale, FL 33309
      View Details
    • $19 SF/Yr
      63,274 SF

      Fort Lauderdale Office/Flex Space

      Prime Broward County location, flexible suites.
      3350 53Rd St, Fort Lauderdale, FL 33309
      View Details
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    Fort Lauderdale, FL 33309-2682
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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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