Margate Office Building For
For Sale
$1,000,000
6221 W Atlantic Blvd, Margate, FL 33063
Office building in Broward County, ideal for owner-user or investor.
Property Size1,817 SF
Lot Size0.27 Acres
Price / SF$550.36
Days on Market632
Property Features for 6221 W Atlantic Blvd
General Information
Standard status
Active
Size
1,817 SF
Lot size
0.27 Acres
Taxes and HOA fees
Annual Taxes
$17,769
Listing Agency:
kelly right real estate
(813) 312-2282
Listed By:
Samih Sadiq · License #3577381
(813) 312-2282
Source:
Exprealty
Added: Nov 28, 2024
Changed: Aug 20
Last Checked: Aug 22 at 11:45AM
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 kelly right real estate
Investment Insights
Based on property information with market context.
Located at 6221 W Atlantic Boulevard in Margate, Florida, this office building is situated on a 0.27-acre lot in Broward County. The property is zoned for office use and features a functional layout with a typical floor size of 1,817 square feet. The building is suitable for professional offices, medical users, or service-based businesses. It offers strong visibility, convenient access, and the flexibility to accommodate various business needs. This property presents an opportunity for an owner-user or investor seeking a strategically located office asset in a thriving commercial corridor.
Key Highlights
- Excellent location in the heart of Broward County's thriving commercial corridor.
- Zoned specifically for office use.
- Functional layout with 1,817 square feet typical floor size.
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
$48,160
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
4.82%
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%
$963,200
$963.2K
Cap Rate 7%
$688,000
$688.0K
Cap Rate 9%
$535,111
$535.1K
Market Conditions
NOI Build-Up for 1,817 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
$82.9K $45.60/SF
− Vacancy
−$18.6K −$10.26/SF
EGI
$64.2K $35.34/SF
− OpEx
−$16.1K −$8.84/SF
NOI
$48.2K $26.51/SF
Area
Broward County, FL
Vacancy
22.50%
Lease Rate
$45.60 /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%
$963,200
Cap Rate 7%
$688,000
Cap Rate 9%
$535,111
Alternative Uses
Best Use
Office B
$688.0K
$602.0K – $802.7K
NOI $48,160 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$921.8K
$806.6K – $1.08M
NOI $64,529 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,203
Businesses Nearby
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
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 - Office building in Broward County, ideal for owner-user or investor.
Where is this office building located?
The property is located at 6221 W Atlantic Blvd Margate, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Excellent location in the heart of Broward County's thriving commercial corridor.; Zoned specifically for office use.; Functional layout with 1,817 square feet typical floor size.
