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    West Park, FL 33023 West Park, FL 33023

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    For Lease
    $29 SF/Yr

    Industrial - West Park, FL

    Type:Industrial
    Added:
    Aug 18, 2025
    Days on Market:
    255
    Last Refresh:
    Apr 29 at 8:06 am

    Property Features

    General Information

    Property type
    Commercial Lease
    Property subtype
    Industrial
    Zoning
    M-2
    Parking features
    Assigned
    Standard status
    Active
    APN
    514124020380

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    12543

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1969
    Flooring type
    Concrete
    Architectural style
    Other

    We can help!

    Listing Contact
    David SanMartin
    David SanMartin

    Listing agent David SanMartin License #3172648

    Listing office EXP Realty LLC 10752 Deerwood Park Blvd #100, Jacksonville, FL

    Listing date Aug 18, 2025

    MLS# A11817349 Listing URL

    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.

    Overview

    West Park Warehouse and Yard

    Warehouse and yard space is available for lease. The property features a concrete floor and a new roof. Bay 2361 is fully air-conditioned. The interior ceiling height is 11 feet. The facility includes two bathrooms. The property has new pavement and is divided into two separate spaces: Bay 2361 (2,125 SF) and Bay 2371 (2,125 SF). Additionally, there is a 2,000 SF gated yard available. M2 zoning allows for many commercial and industrial uses, including auto repair.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Warehouses

    Similar Places Nearby

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    • Self Storage — 5961 w hallandale beach blvd #18, west park, fl 33023
    • Nearby Storage Units - West Park, FL — 5790 w hallandale beach blvd, west park, fl 33023

    Map

    City
    West Park
    County
    Broward
    State
    Florida
    Longitude
    -80.2144
    Latitude
    25.9895

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    FAQs

    What type of property is this?
    Warehouse - Warehouse and yard space available for lease in West Park.
    Where is this warehouse located?
    The property is located at West Park, FL.
    What is the lease rate?
    The lease rate is $29 SF/Yr.
    What are key features of this property?
    This property features: Flexible leasing options: Lease the entire space or individual bays and yard.; M2 zoning allows for a wide range of commercial and industrial uses, including auto repair.; New roof and pavement ensure long‑term reliability and improved aesthetics.
    (954) 787-4376
    We can help!
    Listing Contact
    David SanMartin
    David SanMartin
    Real Estate License ID: 3172648
    Learn More
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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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