Two-Story Flex Industrial
For Sale
$1,395,000
3650 Coral Ridge Dr Unit 103, Coral Springs, FL 33065
Air-conditioned workspace combines private offices, warehouse functionality, high ceilings, and a grade-level loading door.
Property Size4,323 SF
Price / SF$322.69
Days on Market45
Property Features for 3650 Coral Ridge Dr Unit 103
General Information
Standard status
Active
Size
4,323 SF
Total Parking Spaces
10
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
1
Conditioned Warehouse
Yes
Additional Details
Office Units
1
Building Details
Year Built
1986
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
Fidelity Real Estate Group LLC
(954) 345-9144
Listed By:
Carlos A Montoya · License #0623048
Source:
Thepennteam
Added: Jul 16
Changed: Aug 28
Last Checked: Aug 25 at 5:43AM
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 Fidelity Real Estate Group LLC
Investment Insights
Based on property information with market context.
Unit 103 at 3650 Coral Ridge Dr in Coral Springs is a two-story flex property combining air-conditioned office and warehouse space. The layout includes six private offices, two bathrooms, 18-foot ceilings, and a grade-level 10-by-10 roll-up door. Ten assigned parking spaces support the unit’s day-to-day operations.
The property is positioned on Coral Ridge Drive, with access to the Sawgrass Expressway and Florida’s Turnpike within minutes. Three adjacent units are also available separately or together, creating a combined offering of 13,491 square feet. The building was constructed in 1986, and rental or lease-option arrangements may be considered by the owner.
The property is positioned on Coral Ridge Drive, with access to the Sawgrass Expressway and Florida’s Turnpike within minutes. Three adjacent units are also available separately or together, creating a combined offering of 13,491 square feet. The building was constructed in 1986, and rental or lease-option arrangements may be considered by the owner.
Key Highlights
- Two‑story flex unit at 3650 Coral Ridge Dr, Coral Springs, FL 33065
- 18‑foot ceilings and air‑conditioned workspace
- Six private offices with potential for additional office area
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
$71,738
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
5.14%
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%
$1,434,760
$1.4M
Cap Rate 7%
$1,024,829
$1.0M
Cap Rate 9%
$797,089
$797.1K
Market Conditions
NOI Build-Up for 4,323 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
$88.2K $20.40/SF
− Vacancy
−$3.8K −$0.88/SF
EGI
$84.4K $19.52/SF
− OpEx
−$12.7K −$2.93/SF
NOI
$71.7K $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%
$1,434,760
Cap Rate 7%
$1,024,829
Cap Rate 9%
$797,089
Alternative Uses
Best Use
Office B
$5.81M
$5.08M – $6.78M
NOI $406,606 @ 7.0% cap · market cap 29.15%
Second Best
Warehouse
$1.02M
$896.7K – $1.20M
NOI $71,738 @ 7.0% cap · market cap 5.14%
Theoretical Best
Specialty Retail
$7.37M
$6.45M – $8.60M
NOI $516,038 @ 7.0% cap · market cap 36.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,096
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33065, FL
59,668
Population
21,416
Households
2.8
Avg Household Size
36
Median Age
31%
College-Educated
93%
High-School Grad
8.6 sq mi
ZIP Area
6,938
Density / Sq Mi
$70,435
Median Household Income
$36,255
Median Earnings
$1,833
Median Rent
$416,800
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.
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Frequently Asked Questions
What type of property is this?
Flex space - Air-conditioned workspace combines private offices, warehouse functionality, high ceilings, and a grade-level loading door.
Where is this flex space located?
The property is located at 3650 Coral Ridge Dr Unit 103 Coral Springs, FL.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Two‑story flex unit at 3650 Coral Ridge Dr, Coral Springs, FL 33065; 18‑foot ceilings and air‑conditioned workspace; Six private offices with potential for additional office area
