Retail/Flex Building Near
For Sale
$2,150,000
6300 Pembroke Rd, Miramar, FL 33023
Freestanding retail/flex building with income potential near Florida Turnpike.
Property Size4,362 SF
Lot Size0.28 Acres
Price / SF$492.89
Days on Market973
Property Features for 6300 Pembroke Rd
General Information
Standard status
Active
Size
4,362 SF
Lot size
0.28 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1965
Listing Agency:
RE/MAX 5 Star Realty
(954) 453-1000
Listed By:
John DeMarco · License #3134747
(954) 453-1000
Source:
Exitrealty
Added: Dec 7, 2023
Changed: Jul 10
Last Checked: Aug 6 at 6:05AM
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 RE/MAX 5 Star Realty
Investment Insights
Based on property information with market context.
The subject property is a freestanding retail/flex building on two parcels totaling 4,362 square feet of space on a 12,346 square foot lot. The property is located near the Florida Turnpike and SR 7/441. This investment offers ongoing renovations with income potential. Upgrades include hurricane-resistant windows and doors, fresh paint, and a remodeled staircase. The building has a concrete roof and may be raised by two additional floors. The downstairs unit is currently leased to four tenants configured as church space, generating immediate income. All tenants are month-to-month and can vacate, making this property ideal for an owner-user or investor.
Key Highlights
- Freestanding retail/flex building with income potential.
- Strategic location near Florida Turnpike and SR 7/441.
- Opportunity for owner‑user or investor due to month‑to‑month tenants.
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
$132,624
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
6.17%
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%
$2,652,480
$2.7M
Cap Rate 7%
$1,894,629
$1.9M
Cap Rate 9%
$1,473,600
$1.5M
Market Conditions
NOI Build-Up for 4,362 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
$194.7K $44.64/SF
− Vacancy
−$5.3K −$1.21/SF
EGI
$189.5K $43.43/SF
− OpEx
−$56.8K −$13.03/SF
NOI
$132.6K $30.40/SF
Area
Miramar, FL
Vacancy
2.70%
Lease Rate
$44.64 /SF/Yr
Expense Ratio
30.00%
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%
$2,652,480
Cap Rate 7%
$1,894,629
Cap Rate 9%
$1,473,600
Alternative Uses
Best Use
Retail
$1.89M
$1.66M – $2.21M
NOI $132,624 @ 7.0% cap · market cap 6.17%
Second Best
Mixed Use
$878.6K
$768.8K – $1.03M
NOI $61,504 @ 7.0% cap · market cap 2.86%
Theoretical Best
Specialty Retail
$2.03M
$1.78M – $2.37M
NOI $142,097 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
375
Businesses Nearby
Explore this area
Business Placement
Demographics for 33023, FL
66,749
Population
22,450
Households
3
Avg Household Size
38
Median Age
20%
College-Educated
84%
High-School Grad
8.8 sq mi
ZIP Area
7,585
Density / Sq Mi
$70,003
Median Household Income
$35,093
Median Earnings
$1,621
Median Rent
$344,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Freestanding retail/flex building with income potential near Florida Turnpike.
Where is this mixed-use property located?
The property is located at 6300 Pembroke Rd Miramar, FL.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Freestanding retail/flex building with income potential.; Strategic location near Florida Turnpike and SR 7/441.; Opportunity for owner‑user or investor due to month‑to‑month tenants.
