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

    721 42nd St Oakland Park, FL 33334-3142

    • Warehouses
    • 12,036 SF
    • 1.62 lot acres
    OFF-MARKET
    Last Sale
    Aug 06, 2021
    $3,100,000
    Value Estimations
    $3,070,000
    Show details
    Cap Rate Potential
    5.8%
    Warehouses
    Location Intelligence
    Property ID
    US18-1133191
    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

    • Evans Event Center / Event Venue
    • RHI Roofing / Roofing Contractor / Stucco Contractor
    • CSM Fabricators / Metal Fabricator / Roofing Supply Store

    Property Details for 721 42nd St

    Year built
    1962
    Construction
    CONCRETE
    Lot size
    1.62 lot acres
    Property size
    12,036 SF
    Zone code
    I-1
    Property type
    Warehouses
    APN
    49-42-23-00-0276
    APU
    494223000276

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,430,000
      ML approach
      $3,730,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,330,000
      6.5%
      $3,075,000
      7%
      $2,855,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,996,000
      Market price range: $901k - $3.00M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $4,430,000
      Current use
      RETAIL STORES
      $4,755,000
      Change: +7% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Oakland Park
    County
    Broward
    State
    Florida
    Longitude
    -80.1371
    Latitude
    26.1787
    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
    $67,135
    $1,060,020
    $1,791,280
    $2,851,300
    -
    $1,060,020
    $1,791,280
    $2,851,300

    Comparable in this City

    • Value Estimation
      $2,765,000
      13,700 SF

      1066-1086 43rd St

      WAREHOUSE, STORAGE • 13,700 SF
      1066-1086 43rd St, Oakland Park, FL 33334
      View Details
    • Value Estimation
      $1,875,000
      8,722 SF

      4075 8th Ave, Unit 4081

      WAREHOUSE, STORAGE • 8,722 SF
      4075 8th Ave, Oakland Park, FL 33334-3003
      View Details
    • Value Estimation
      $2,480,000
      11,628 SF

      4097 6th Ave, Unit 4141

      WAREHOUSE, STORAGE • 11,628 SF
      4097 6th Ave, Oakland Park, FL 33334-2235
      View Details
    • Value Estimation
      $2,970,000
      13,912 SF

      4420 6th Ter

      WAREHOUSE, STORAGE • 13,912 SF
      4420 6th Ter, Oakland Park, FL 33334-3254
      View Details
    • Value Estimation
      $2,265,000
      10,507 SF

      4749 11th Ave, Unit 4785

      WAREHOUSE, STORAGE • 10,507 SF
      4749 11th Ave, Oakland Park, FL 33334-3907
      View Details
    • Value Estimation
      $1,825,000
      8,132 SF

      5100 12th Ave

      WAREHOUSE, STORAGE • 8,132 SF
      5100 12th Ave, Oakland Park, FL 33334-4919
      View Details

    Similar Nearby for Sale

    • $1,450,000
      2,600 SF

      Refinished Oakland Park Warehouse/Manufacturing Building

      Refinished 2,600 SF building with yard in Oakland Park.
      181 NE 32Nd Ct, Fort Lauderdale, FL 33334
      View Details
    • $2,600,000
      0.25 Acres

      Oakland Park Industrial Warehouse

      Industrial warehouse in Oakland Park with flexible usage options.
      4431 NE 11Th Ave, Oakland Park, FL 33334
      View Details
    • $1,550,000
      5,867 SF

      Oakland Park Warehouse Flex Building

      5,867 SF warehouse/flex building with secure outside storage.
      3034 NE 12Th Ter, Oakland Park, FL 33334
      View Details
    • $575,000
      2,500 SF

      Oakland Park Warehouse Portfolio

      Six-Unit Warehouse, 100% Occupied
      4407 10Th Ave, Oakland Park, FL 33334
      View Details
    • $4,725,000
      11,588 SF

      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
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    • $1,400,000
      0.17 Acres

      Oakland Park Warehouse with Alley

      Spacious warehouse with covered area, convenient access, and light industrial zoning.
      1040 NE 44Th St, Fort Lauderdale, FL 33334
      View Details

    Similar Nearby for Lease

    • $450 /Mo

      198 NE 33 St Oakland Park FL 33334

      Warehouse Oakland Park!
      198 NE 33 St Oakland Park FL 33334, Oakland Park, FL 33334
      View Details
    • $22 SF/Yr

      Industrial Warehouse Complex For Lease

      64,453 SF industrial warehouse complex with flexible unit sizes.
      511 NE 32Nd St, Fort Lauderdale, FL 33334
      View Details
    • $3,600 /Mo

      Warehouse with Drive-Through Access

      East side warehouse featuring drive-through access and 3-phase electric.
      4834 NE 10Th Ave, Oakland Park, FL 33334
      View Details
    • $20 SF/Yr
      1,660 SF

      Oakland Park Warehouse with Offices

      1,660 SF warehouse with offices for lease.
      4787-4799 NE 11Th Ave, Oakland Park, FL 33334
      View Details
    • $22 SF/Yr
      1,400 SF

      Oakland Park Industrial Warehouse Space

      Industrial warehouse property in Oakland Park, Florida, with I-95 access.
      519 NE 34Th Dr, Oakland Park, FL 33334
      View Details
    • $4,500 /Mo

      Oakland Park Storefront/Warehouse For Rent

      Storefront/warehouse in high-traffic Oakland Park location, ideal for various businesses.
      4500 N Dixie Hwy, Oakland Park, FL 33334
      View Details
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    721 42nd St
    Oakland Park, FL 33334-3142
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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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