Flex Space with Drive-In
For Sale
Contact for pricing
Pending
12438 Wiles Rd, Coral Springs, FL 33076
Office and warehouse areas combine with loading access and hurricane impact glass windows and doors.
Property Size6,926 SF
Days on Market632
Property Features for 12438 Wiles Rd
General Information
Standard status
Pending
Size
6,926 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
21 ft
Mezzanine
1,744 SF
Drive-In Doors
1
Additional Details
Highway Access
Yes
Office Units
1
Listing Agency:
Total Real Estate Consultants Inc
(954) 224-8773
Listed By:
Joe Pelayo · License #3005451
(954) 224-8773
Source:
Moodyscre
Added: Dec 6, 2024
Changed: Aug 30
Last Checked: Aug 30 at 6:01AM
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 Real Estate Consultants Inc
Investment Insights
Based on property information with market context.
This 6,926 +/- square-foot flex space combines office and warehouse functions within a single commercial unit. Approximately 34% of the layout is office area, with an open work section, 5 executive offices, a break room, and 1 restroom. The warehouse portion accounts for about 66% of the space and includes 21’ clear ceilings, 1 restroom, a 1,744 +/- square-foot mezzanine, a ramp, and a drive-in door. Hurricane impact glass windows and doors are also part of the improvements.
Situated in Coral Springs Corporate Center, the property provides access to Sawgrass Expressway and Florida’s Turnpike. The unit is offered for sale and is also available for lease.
Situated in Coral Springs Corporate Center, the property provides access to Sawgrass Expressway and Florida’s Turnpike. The unit is offered for sale and is also available for lease.
Key Highlights
- 6,926 +/- SQFT flex space with approximately 34% office and 66% warehouse area
- Warehouse includes 21’ clear ceilings and a 1,744 +/- SQFT mezzanine
- Loading access includes both a ramp and a drive‑in door
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
$114,933
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
7.42%
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%
$2,298,660
$2.3M
Cap Rate 7%
$1,641,900
$1.6M
Cap Rate 9%
$1,277,033
$1.3M
Market Conditions
NOI Build-Up for 6,926 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
$141.3K $20.40/SF
− Vacancy
−$6.1K −$0.88/SF
EGI
$135.2K $19.52/SF
− OpEx
−$20.3K −$2.93/SF
NOI
$114.9K $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%
$2,298,660
Cap Rate 7%
$1,641,900
Cap Rate 9%
$1,277,033
Alternative Uses
Best Use
Office B
$9.31M
$8.14M – $10.86M
NOI $651,435 @ 7.0% cap · market cap 42.03%
Second Best
Warehouse
$1.64M
$1.44M – $1.92M
NOI $114,933 @ 7.0% cap · market cap 7.42%
Theoretical Best
Specialty Retail
$11.81M
$10.33M – $13.78M
NOI $826,758 @ 7.0% cap · market cap 53.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
21 ft
Clear height
1
Drive-in doors
1
Office units
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- JULIANS ON WHEELS — 11570 Wiles Rd, Coral Springs, FL 33076
- Chefs 4 U LLC — 4601 Coral Springs Dr, Coral Springs, FL 33065
- Royal Haitian Cuisine Catering — 4709 NW 114th Dr, Coral Springs, FL 33076
- Irresistible Caterers — 5944 Coral Ridge Dr, Tamarac, FL 33076
- Publix Catering at Sawgrass Center — 5950 Coral Ridge Dr, Coral Springs, FL 33076
Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse areas combine with loading access and hurricane impact glass windows and doors.
Where is this flex space located?
The property is located at 12438 Wiles Rd Coral Springs, FL.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 6,926 +/- SQFT flex space with approximately 34% office and 66% warehouse area; Warehouse includes 21’ clear ceilings and a 1,744 +/- SQFT mezzanine; Loading access includes both a ramp and a drive‑in door
