Industrial Flex
For Sale
$5,950,000
Pending
21005 Taft St, Pembroke Pines, FL 33029
Warehouse and office improvements provide flexible industrial functionality within secured, gated grounds.
Property Size15,298 SF
Days on Market2476
Property Features for 21005 Taft St
General Information
Standard status
Pending
Size
15,298 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$65,546
Amenities
3
34 Parking Spaces.
Building Details
Year Built
2007
Listing Agency:
(305) 229-1146
Listed By:
Avanti Way
(305) 216-4636
Source:
Xome
Added: Nov 24, 2019
Changed: Sep 3
Last Checked: Aug 30 at 8:09PM
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 Avanti Way
Investment Insights
Based on property information with market context.
This industrial flex property combines warehouse and office improvements on 4.33 acres zoned M-2. The office component measures 3,000 SF and includes impact windows, while the warehouse offers 20 ft and 25 ft clear ceiling heights and sprinkler protection. Three-phase power with 270 amps supports industrial operations.
The filled and graded acreage is configured for industrial use or storage. The property is enclosed by fencing and accessed through an electric gate, with 34 striped parking spaces on site. Built in 2007, the facility provides a combination of functional improvements, secured grounds, and substantial paved parking.
The filled and graded acreage is configured for industrial use or storage. The property is enclosed by fencing and accessed through an electric gate, with 34 striped parking spaces on site. Built in 2007, the facility provides a combination of functional improvements, secured grounds, and substantial paved parking.
Key Highlights
- 4.33‑acre industrial property zoned M‑2
- 3,000 SF of office space with impact windows
- 20 ft and 25 ft clear ceiling heights
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
$300,697
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
5.05%
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%
$6,013,940
$6.0M
Cap Rate 7%
$4,295,671
$4.3M
Cap Rate 9%
$3,341,078
$3.3M
Market Conditions
NOI Build-Up for 15,298 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
$514.0K $33.60/SF
− Vacancy
−$113.1K −$7.39/SF
EGI
$400.9K $26.21/SF
− OpEx
−$100.2K −$6.55/SF
NOI
$300.7K $19.66/SF
Area
Pembroke Pines, FL
Vacancy
22.00%
Lease Rate
$33.60 /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%
$6,013,940
Cap Rate 7%
$4,295,671
Cap Rate 9%
$3,341,078
Alternative Uses
Best Use
Office B
$4.30M
$3.76M – $5.01M
NOI $300,697 @ 7.0% cap · market cap 5.05%
Second Best
Flex RnD
$3.22M
$2.82M – $3.76M
NOI $225,523 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$6.50M
$5.69M – $7.58M
NOI $454,828 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33029, FL
46,202
Population
14,075
Households
3.3
Avg Household Size
41
Median Age
46%
College-Educated
95%
High-School Grad
16.8 sq mi
ZIP Area
2,750
Density / Sq Mi
$145,282
Median Household Income
$59,285
Median Earnings
$2,324
Median Rent
$575,900
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.
Frequently Asked Questions
What type of property is this?
Flex space - Warehouse and office improvements provide flexible industrial functionality within secured, gated grounds.
Where is this flex space located?
The property is located at 21005 Taft St Pembroke Pines, FL.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: 4.33‑acre industrial property zoned M‑2; 3,000 SF of office space with impact windows; 20 ft and 25 ft clear ceiling heights
