Industrial Flex Warehouse
For Sale
$912,000
Pending
12140 Wiles Road, Coral Springs, FL 33076
Corner-unit showroom/warehouse condo with private office, tile-and-concrete floors, six parking spaces, and two grade-level roll-up doors.
Property Size2,360 SF
Days on Market79
Property Features for 12140 Wiles Road
General Information
Standard status
Pending
Size
2,360 SF
Total Parking Spaces
6
Property subtype
Mixed Use
Zoning
Industrial Commercial
Additional Details
Highway Access
Yes
Drive-In Doors
2
Building Details
Year Built
2004
Listing Agency:
Total R E Consultants Inc
(954) 341-3294
Listed By:
J. Josep D Pelayo · License #3005451
(954) 551-9427
Source:
Lehmannflorida
Added: Jun 19
Changed: Sep 4
Last Checked: Sep 5 at 7:35AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Total R E Consultants Inc
Investment Insights
Based on property information with market context.
This industrial flex warehouse condo offers a showroom and warehouse combination with a versatile interior layout. Approximately 25% is dedicated to showroom/office use, including a private office, while the remaining space functions as warehouse area for storage and operations. The unit features concrete and tile flooring for durable day-to-day use and efficient upkeep. Two grade-level roll-up doors support loading and deliveries.
Located within Coral Springs Corporate Park at 12140 Wiles Rd, the property is positioned within a broader commercial business presence. The remarks note convenient access to University Drive, Coral Ridge Drive, Sawgrass Expressway, and Florida’s Turnpike.
The property is zoned Industrial Commercial. With a corner-unit configuration and allocated parking, it is designed to support customer-facing showroom activity alongside warehouse functionality.
Located within Coral Springs Corporate Park at 12140 Wiles Rd, the property is positioned within a broader commercial business presence. The remarks note convenient access to University Drive, Coral Ridge Drive, Sawgrass Expressway, and Florida’s Turnpike.
The property is zoned Industrial Commercial. With a corner-unit configuration and allocated parking, it is designed to support customer-facing showroom activity alongside warehouse functionality.
Key Highlights
- 2,360± SF corner‑unit showroom/warehouse condo in Coral Springs Corporate Park (built 2004)
- Approx. 25% showroom/office space (including a private office) and approx. 75% warehouse space
- Concrete and tile flooring throughout
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
$39,163
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
4.29%
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%
$783,260
$783.3K
Cap Rate 7%
$559,471
$559.5K
Cap Rate 9%
$435,144
$435.1K
Market Conditions
NOI Build-Up for 2,360 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
$48.1K $20.40/SF
− Vacancy
−$2.1K −$0.88/SF
EGI
$46.1K $19.52/SF
− OpEx
−$6.9K −$2.93/SF
NOI
$39.2K $16.59/SF
Area
Coral Springs, FL
Vacancy
4.30%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
15.00%
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%
$783,260
Cap Rate 7%
$559,471
Cap Rate 9%
$435,144
Alternative Uses
Best Use
Warehouse
$559.5K
$489.5K – $652.7K
NOI $39,163 @ 7.0% cap · market cap 4.29%
Second Best
Industrial
$460.7K
$403.2K – $537.5K
NOI $32,252 @ 7.0% cap · market cap 3.54%
Theoretical Best
Specialty Retail
$4.02M
$3.52M – $4.70M
NOI $281,714 @ 7.0% cap · market cap 30.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
791
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33076, FL
41,826
Population
13,999
Households
3
Avg Household Size
40
Median Age
61%
College-Educated
98%
High-School Grad
10.8 sq mi
ZIP Area
3,873
Density / Sq Mi
$174,560
Median Household Income
$76,035
Median Earnings
$3,243
Median Rent
$745,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Corner-unit showroom/warehouse condo with private office, tile-and-concrete floors, six parking spaces, and two grade-level roll-up doors.
Where is this flex space located?
The property is located at 12140 Wiles Road Coral Springs, FL.
What is the asking price?
The asking price for this property is $912,000.
What are key features of this property?
This property features: 2,360± SF corner‑unit showroom/warehouse condo in Coral Springs Corporate Park (built 2004); Approx. 25% showroom/office space (including a private office) and approx. 75% warehouse space; Concrete and tile flooring throughout
