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

    940 51st Pl Fort Lauderdale, FL 33309-3103

    • Warehouses
    • 12,640 SF
    • 0.43 lot acres
    OFF-MARKET
    Last Sale
    Jun 21, 2023
    Value Estimations
    $2,360,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1684235
    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

    • Florida Property Supply / Big Box & Wholesale Store / Building Supply
    • The Fuel Cell Inc / Fuel Supplier

    Property Details for 940 51st Pl

    Year built
    1961
    Construction
    CONCRETE
    Lot size
    0.43 lot acres
    Property size
    12,640 SF
    Zone code
    B-3
    Property type
    Warehouses
    APN
    49-42-16-02-0100
    APU
    494216020100

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,500,000
      6.5%
      $3,230,000
      7%
      $3,000,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,434,000
      Market price range: $550k - $2.45M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lauderdale
    County
    Broward
    State
    Florida
    Longitude
    -80.1562
    Latitude
    26.1906
    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
    $31,089
    $150,080
    $1,676,980
    $1,827,060
    -
    $150,080
    $1,676,980
    $1,827,060

    Comparable in this City

    • Value Estimation by Request
      63,274 SF

      3350 53Rd St

      Restaurants • 63,274 SF
      3350 53Rd St, Fort Lauderdale, FL 33309
      View Details
    • Value Estimation
      $1,675,000
      8,858 SF

      830 57th Ct

      WAREHOUSE, STORAGE • 8,858 SF
      830 57th Ct, Fort Lauderdale, FL 33309-2034
      View Details
    • Value Estimation
      $1,745,000
      9,553 SF

      820 57th St, Unit 826

      WAREHOUSE, STORAGE • 9,553 SF
      820 57th St, Fort Lauderdale, FL 33309-2827
      View Details
    • Value Estimation
      $23,350,000
      94,215 SF

      1700-1760 62nd St

      WAREHOUSE, STORAGE • 94,215 SF
      1700-1760 62nd St, Fort Lauderdale, FL 33309
      View Details
    • Value Estimation
      $4,300,000
      15,750 SF

      2020 Mcnab Rd

      WAREHOUSE, STORAGE • 15,750 SF
      2020 Mcnab Rd, Fort Lauderdale, FL 33309-1000
      View Details
    • Value Estimation
      $4,355,000
      21,975 SF

      4900 Prospect Rd

      WAREHOUSE, STORAGE • 21,975 SF
      4900 Prospect Rd, Fort Lauderdale, FL 33309
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Renovated Warehouse with Office Space

      Fully renovated warehouse with office, near FXE Airport.
      3541 NW 53Rd St, Fort Lauderdale, FL 33309
      View Details
    • Contact for pricing
      61,135 SF

      Office/Flex/Warehouse Property For Sale

      Multi-building project with flexible floor plans and ample parking.
      3350 NW 53Rd St, Fort Lauderdale, FL 33309
      View Details
    • $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
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    • $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
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    • $2,500,000
      12,520 SF

      Oakland Park Warehouse Investment

      12,520 SF Warehouse, Value-Add Opportunity
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      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
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    Similar Nearby for Lease

    • $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
    • $6,400 /Mo
      14,000 SF

      Fort Lauderdale Office Warehouse Space

      Office and warehouse space in a prime Fort Lauderdale location.
      1100 NW 54Th St, Fort Lauderdale, FL 33309
      View Details
    • $16 SF/Yr
      20,288 SF

      Fort Lauderdale Warehouse Space

      Large Warehouse, Abundant Parking
      2610 55Th Ct, Fort Lauderdale, FL 33309
      View Details
    • Contact for pricing
      30,200 SF

      Fort Lauderdale Industrial Warehouse

      30,200 SF Warehouse, Flex Space Available
      3555 53Rd Ct, Fort Lauderdale, FL 33309
      View Details
    • $24 SF/Yr
      43,006 SF

      Fort Lauderdale Warehouse Space

      Industrial Warehouses, Prime Location
      1052-1090 53Rd St, Fort Lauderdale, FL 33309
      View Details
    • $18 SF/Yr
      41,179 SF

      Fort Lauderdale Warehouse/Production Space

      Recently renovated warehouse/production space in Fort Lauderdale's Gateway Industrial Park.
      6682 Northwest 16Th Ter, Fort Lauderdale, FL 33309
      View Details
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    940 51st Pl
    Fort Lauderdale, FL 33309-3103
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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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