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    Margate Office/Warehouse Condo Units Title is generated by Realmo AI

    5453 NW 24 Street, Margate, FL 33063

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    For Sale
    $2,100,000

    COMMERCIAL - Margate, FL

    Property size:
    7,200 SF
    Price / SF:
    $291/SF
    Added:
    Nov 30, 2025
    Days on Market:
    187
    Last Refresh:
    Jun 5 at 7:06 am

    Property Features for 5453 NW 24 Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    M-1A
    Bathrooms
    4
    Rooms
    Bathroom 2, Bathroom 1, Bathroom 4, Bathroom 3
    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

    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
    Tile, Concrete
    Building materials
    Concrete
    Roof type
    Composition

    We can help!

    Listing Contact
    Thomas E Rispoli

    Listing agent Thomas E Rispoli License #3229277

    Listing office Dalton Wade Inc 260 1st Ave S Suite 200, St. Petersburg, FL

    Listing date Nov 30, 2025

    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.

    HighLights

    • Pristine office/warehouse complex comprised of 4 individual condo units (approx. 7200 sq ft total) being sold together, ideal for an owner‑user.
    • Each unit features an air‑conditioned office with a private bathroom and a 12' x 14' high electric overhead door.
    • Each unit has a permitted load‑bearing loft (approx. 600 sq ft) in addition to the 1200 sq ft lower level.
    • The property is located in a nice, clean, and professionally maintained industrial park.
    • Features impact windows on the upper level and panel shutters on the first floor.
    • 18 ft clear ceiling height.

    Overview

    This commercial property in Margate, Florida, features a pristine office/warehouse complex. The property consists of four individual warehouse condo units, being sold as a group, totaling approximately 7200 square feet. Each unit includes approximately 1200 square feet on the lower level, with a permitted load-bearing loft of approximately 600 square feet. The units have impact windows on the upper level and panel shutters for the first floor. Each unit also contains an air-conditioned office with a separate bathroom. The warehouse space features a 12' x 14' high electric overhead door and an 18 ft clear ceiling height. The roof has a 20-year warranty, with work completed in October 2025. Built around 2004, all units have a high level of finish and are currently occupied. The property is located in a clean and professionally maintained industrial park and is zoned M-1A.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Similar Places Nearby

    • Door 2 Door Catering — 5241 Coconut Creek Pkwy, Margate, FL 33063
    • Catering Anne Marie's — 2403 N State Rd 7, Margate, FL 33063
    • Ukelele Foods LLC — 2686nw, NW 61st Ave, Margate, FL 33063
    • C & G Catering Llc — 5740 Margate Blvd, Margate, FL 33063
    • Jugo boss — 6124 nw 22nd st, margate, fl 33063

    Map

    City
    Margate
    County
    Broward
    State
    Florida
    Longitude
    -80.2096
    Latitude
    26.252

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    FAQs

    What type of property is this?
    Flex space - Pristine office/warehouse complex with four condo units for sale.
    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: Pristine office/warehouse complex comprised of 4 individual condo units (approx. 7200 sq ft total) being sold together, ideal for an owner‑user.; Each unit features an air‑conditioned office with a private bathroom and a **12' x 14' high electric overhead door.**; Each unit has a permitted load‑bearing loft (approx. 600 sq ft) in addition to the 1200 sq ft lower level.
    (561) 704-4681
    We can help!
    Listing Contact
    Thomas E Rispoli
    Real Estate License ID: 3229277
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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.

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