Four-Unit Office/Warehouse Flex
For Sale
$2,100,000
5453 NW 24 Street, Margate, FL 33063
COMMERCIAL - Margate, FL
Property Size7,200 SF
Price / SF$291.67
Days on Market248
Property Features for 5453 NW 24 Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M-1A
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
Subdivision
3631
Standard status
Active
APN
484230320100
Size
7,200 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
MARGATE COMMERCIAL CENTER 121-28B POR OF TRACT B DESC AS,COMM AT SW COR SAID TRACT B,E 228.86 N 75.08,W 20.52,N 4,W 19.2
Tax Annual Amount
7431
Legal Description
MARGATE COMMERCIAL CENTER 121-28B POR OF TRACT B DESC AS,COMM AT SW COR SAID TRACT B,E 228.86 N 75.08,W 20.52,N 4,W 19.2
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2004
Floors in Building
2
Number of units
4
Flooring type
Concrete, Tile
Building materials
Concrete
Roof type
Composition
Listing Agency:
Dalton Wade Inc
(888) 668-8283
Listed By:
Thomas E Rispoli · License #3229277
(561) 704-4681
Added: Nov 30, 2025
Changed: Aug 4
Last Checked: Aug 5 at 12:06AM
MLS# R11144422
Copyright © 2026 BeachesMLS. 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.
Four individual warehouse condo units are being sold as a group, totaling approximately 7,200 SF within an owner-user industrial park. The complex is described as pristine and professionally maintained, with all units currently occupied.
Each unit includes an air-conditioned office with a separate bathroom, plus a permitted load-bearing loft of approximately 600 +/- SF. The lower level is approximately 1,200 SF per unit. The first-floor openings feature upper level impact windows with panel shutters. Warehouse operations include a 12' x 14' high electric overhead door and approximately 18 ft clear ceiling height.
Construction materials include concrete, with central heating and central air. The roof is composition and includes a 20-year roof warranty; roof work was completed in October 2025. Utilities are public water and public sewer. The property is built in approximately 2004 and is zoned M-1A.
Each unit includes an air-conditioned office with a separate bathroom, plus a permitted load-bearing loft of approximately 600 +/- SF. The lower level is approximately 1,200 SF per unit. The first-floor openings feature upper level impact windows with panel shutters. Warehouse operations include a 12' x 14' high electric overhead door and approximately 18 ft clear ceiling height.
Construction materials include concrete, with central heating and central air. The roof is composition and includes a 20-year roof warranty; roof work was completed in October 2025. Utilities are public water and public sewer. The property is built in approximately 2004 and is zoned M-1A.
Key Highlights
- Sold as four individual warehouse condo units totaling approx 7,200 SF
- Each unit has an air‑conditioned office and separate bathroom
- Warehouse features a 12' x 14' high electric overhead door and 18 ft clear ceiling height
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $328.3k | $45.60 |
| − Vacancy | −$73.9k | −$10.26 |
| EGI | $254.4k | $35.34 |
| − OpEx | −$63.6k | −$8.84 |
| NOI | $190.8k | $26.51 |
7,200 SF · lease $45.60/SF/yr · vacancy 22.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.73M
$2.39M – $3.18M
NOI $190,836 @ 7.0% cap · market cap 9.09%
Second Best
Flex RnD
$2.26M
$1.98M – $2.64M
NOI $158,371 @ 7.0% cap · market cap 7.54%
Theoretical Best
Office A
$3.65M
$3.20M – $4.26M
NOI $255,700 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,203
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33063, FL
56,296
Population
27,019
Households
2.1
Avg Household Size
45
Median Age
28%
College-Educated
89%
High-School Grad
8.2 sq mi
ZIP Area
6,865
Density / Sq Mi
$62,930
Median Household Income
$38,038
Median Earnings
$1,790
Median Rent
$270,100
Median Home Value
Market
Properties on Market for Flex space in Broward County
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Four flex warehouse condo units under M-1A zoning with air-conditioned offices, private baths, and 18 ft clear ceilings.
Where is this flex space located?
The property is located at 5453 NW 24 Street Margate, FL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Sold as four individual warehouse condo units totaling approx 7,200 SF; Each unit has an air‑conditioned office and separate bathroom; Warehouse features a 12' x 14' high electric overhead door and 18 ft clear ceiling height
