Divisible Office
For Sale
$1,400,000
120 SW 70th Ave, Pembroke Pines, FL 33023
Commercial Sale, Pembroke Pines, FL
Property Size5,125 SF
Lot Size0.28 Acres
Price / SF$273.17
Days on Market43
Property Features for 120 SW 70th Ave
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
(B-3)
Directions
PINES BLVD, WEST OF 441 PROCEED TO 70 AVE TURN LEFT( SOUTH). PROPERTY ON YOUR RIGHT.
Subdivision
3180
Standard status
Active
APN
514114010014
Lot size
0.28 Acres
Taxes and HOA fees
Tax Description
TATUMS SUB 2-5 D LOT 1 S 100 OF N 290 OF W 120 OF E 150
Tax Annual Amount
26313
Legal Description
TATUMS SUB 2-5 D LOT 1 S 100 OF N 290 OF W 120 OF E 150
Building Details
Year built
1962
Floors in Building
1
Listing Agency:
Ace Core-Group, LLC.
(954) 934-3612
Listed By:
Irfan Khan · License #3058504
(954) 394-8935
Added: Aug 18
Changed: Sep 10
Last Checked: Sep 29 at 2:06PM
MLS# A12071471
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This approximately 5,125-square-foot office building offers a three-bay layout with separate electric meters. The interior supports retail or office use and includes kitchens along with three bathrooms, including a shower and handicapped-accessible facilities. The property is also being used as a church with an occupancy of 225. Newer A/C units and three-phase electric service are in place.
Positioned in Pembroke Pines just south of Pines Blvd. and east of the Turnpike, the building provides access to Pines Blvd. On-site parking includes 15 spaces, with potential for 7 additional spaces. The property carries B-2A zoning and was built in 1962.
Positioned in Pembroke Pines just south of Pines Blvd. and east of the Turnpike, the building provides access to Pines Blvd. On-site parking includes 15 spaces, with potential for 7 additional spaces. The property carries B-2A zoning and was built in 1962.
Key Highlights
- Approximately 5,125 sq ft office building
- 3 bays with separate meters
- B‑2A zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$100,737
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,014,740
$2.0M
Cap Rate 7%
$1,439,100
$1.4M
Cap Rate 9%
$1,119,300
$1.1M
Market Conditions
NOI Build-Up for 5,125 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$172.2K $33.60/SF
− Vacancy
−$37.9K −$7.39/SF
EGI
$134.3K $26.21/SF
− OpEx
−$33.6K −$6.55/SF
NOI
$100.7K $19.66/SF
Area
Pembroke Pines, FL
Vacancy
22.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,014,740
Cap Rate 7%
$1,439,100
Cap Rate 9%
$1,119,300
Alternative Uses
Best Use
Office B
$1.44M
$1.26M – $1.68M
NOI $100,737 @ 7.0% cap · market cap 7.20%
Second Best
Retail
$1.19M
$1.05M – $1.39M
NOI $83,625 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$2.18M
$1.90M – $2.54M
NOI $152,372 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,954
Businesses Nearby
Explore this area
Business Placement
Demographics for 33023, FL
66,749
Population
22,450
Households
3
Avg Household Size
38
Median Age
20%
College-Educated
84%
High-School Grad
8.8 sq mi
ZIP Area
7,585
Density / Sq Mi
$70,003
Median Household Income
$35,093
Median Earnings
$1,621
Median Rent
$344,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - B-2A zoning, separate metering, and newer A/Cs support flexible commercial occupancy.
Where is this office building located?
The property is located at 120 SW 70th Ave Pembroke Pines, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Approximately 5,125 sq ft office building; 3 bays with separate meters; B‑2A zoning
