Office-Flex
1847 Banks Rd, Margate, FL 33063
For Sale
Contact for pricing
M-1A zoning and a lease with approximately one year remaining provide a defined near-term occupancy window.
Property Size4,069 SF
Price / SF$0.54
Days on Market40
Property Features for 1847 Banks Rd
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Tenant in Place
Property Use
Building Details
Year Built
Listing Agency:
Eight Pillars Brokerage & Advisory LLC
Listed By:
Debora Rodrigues · License #3408271
(954) 243-3204
Source:
Stoicestates
Added: Sep 30
Changed: Nov 7
Last Checked: Nov 7 at 5:06PM
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 Eight Pillars Brokerage & Advisory LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office and flex property was built in 2005 and carries an M-1A (Light Industrial / Flexible Commercial) zoning designation. The space is offered through a sublease or assignment, with approximately one year left on the current lease and a market renewal option.
The property is in Margate, with access to Sample Road, Copans Road, Florida’s Turnpike, and I-95.
The property is in Margate, with access to Sample Road, Copans Road, Florida’s Turnpike, and I-95.
Key Highlights
- M‑1A (Light Industrial / Flexible Commercial) zoning
- Sublease or assignment opportunity
- Approximately 1 year remaining on the current lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,928
Suggested Prices Based on Cap Rates
Cap Rate 5%
$878,560
$878.6K
Cap Rate 7%
$627,543
$627.5K
Cap Rate 9%
$488,089
$488.1K
Market Conditions
NOI Build-Up for 4,069 SF
Gross rent
$66.4K $16.32/SF
− Vacancy
−$3.7K −$0.90/SF
EGI
$62.8K $15.42/SF
− OpEx
−$18.8K −$4.63/SF
NOI
$43.9K $10.80/SF
Area
Broward County, FL
Vacancy
5.50%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$878,560
Cap Rate 7%
$627,543
Cap Rate 9%
$488,089
Alternative Uses
Best Use
Flex RnD
$1.28M
$1.12M – $1.49M
NOI $89,502 @ 7.0% cap · market cap 4,068.27%
Second Best
Industrial
$627.5K
$549.1K – $732.1K
NOI $43,928 @ 7.0% cap · market cap 1,996.73%
Theoretical Best
Office A
$2.06M
$1.81M – $2.41M
NOI $144,506 @ 7.0% cap · market cap 6,568.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,203
Businesses Nearby
Balanced
Demand for This Use
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
$270,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Flex space in Broward County, FL
Properties on Market for Flex space in Broward County
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- C & G Catering Llc — 5740 Margate Blvd, Margate, FL 33063
- Door 2 Door Catering — 5241 Coconut Creek Pkwy, Margate, FL 33063
- Jugo boss — 6124 nw 22nd st, margate, fl 33063
- Catering Anne Marie's — 2403 N State Rd 7, Margate, FL 33063
- Ukelele Foods LLC — 2686nw, NW 61st Ave, Margate, FL 33063
Frequently Asked Questions
What type of property is this?
Flex space - M-1A zoning and a lease with approximately one year remaining provide a defined near-term occupancy window.
Where is this flex space located?
The property is located at 1847 Banks Rd Margate, FL.
What are key features of this property?
This property features: M‑1A (Light Industrial / Flexible Commercial) zoning; Sublease or assignment opportunity; Approximately 1 year remaining on the current lease
