M-1 Zoned Flex
For Sale
$1,395,000
Pending
2110 SW 58th Ave, West Park, FL 33023
Commercial Sale, West Park, FL
Property Size2,886 SF
Lot Size0.39 Acres
Days on Market90
Property Features for 2110 SW 58th Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
TOC
Parking
30
Security features
Security System
Directions
SW Corner of 58th Ave and 21st St, West Park
Subdivision
3080
Standard status
Pending
APN
514124030670
Lot size
0.39 Acres
Taxes and HOA fees
Tax Description
WEST HOLLYWOOD HILLS 6-25 B LOT 43 TO 48 BLK 5
Tax Annual Amount
8413
Legal Description
WEST HOLLYWOOD HILLS 6-25 B LOT 43 TO 48 BLK 5
Building Details
Year built
1966
Floors in Building
1
Number of units
2
Flooring type
Concrete
Building materials
Block
Roof type
Built-Up
Listing Agency:
Alterra Realty Group Inc
(305) 778-8499
Listed By:
Bram Scolnick · License #3035462
(954) 302-6368
Added: Jun 30
Changed: Sep 2
Last Checked: Sep 27 at 12:06PM
MLS# A11953113
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This M-1 zoned flex space occupies an approximately 17,200-square-foot lot, or 0.3949 acres, with two block structures totaling approximately 2,886 SF. The warehouse includes concrete floors, approximately 18-foot clear ceilings, storage, two front loading doors, and a rear door. An office component provides additional space within the improvements. The property was built in 1966 and includes a built-up roof.
Site features include a vehicle lift, room for additional lifts, an above-ground fuel tank, paved areas with drainage, fencing, security, and three exits. The zoning supports automotive, industrial, and other commercial uses. The property is in the Central Business District, approximately 3 miles from an expressway and 5 miles from the beach.
Site features include a vehicle lift, room for additional lifts, an above-ground fuel tank, paved areas with drainage, fencing, security, and three exits. The zoning supports automotive, industrial, and other commercial uses. The property is in the Central Business District, approximately 3 miles from an expressway and 5 miles from the beach.
Key Highlights
- M‑1 zoning supports automotive, industrial, and other commercial uses
- Approximately 17,200 sq. ft. lot, or 0.3949 acres
- Two structures total approximately 2,886 SF
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
$63,480
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
4.55%
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%
$1,269,600
$1.3M
Cap Rate 7%
$906,857
$906.9K
Cap Rate 9%
$705,333
$705.3K
Market Conditions
NOI Build-Up for 2,886 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
$103.9K $36.00/SF
− Vacancy
−$6.2K −$2.16/SF
EGI
$97.7K $33.84/SF
− OpEx
−$34.2K −$11.84/SF
NOI
$63.5K $22.00/SF
Area
Broward County, FL
Vacancy
6.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,269,600
Cap Rate 7%
$906,857
Cap Rate 9%
$705,333
Alternative Uses
Best Use
Flex RnD
$906.9K
$793.5K – $1.06M
NOI $63,480 @ 7.0% cap · market cap 4.55%
Second Best
Warehouse
$540.5K
$472.9K – $630.6K
NOI $37,833 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,493 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
18 ft
Clear height
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,954
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Corner commercial property with warehouse improvements, secured paving, vehicle lift, and multiple loading doors.
Where is this flex space located?
The property is located at 2110 SW 58th Ave West Park, 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: M‑1 zoning supports automotive, industrial, and other commercial uses; Approximately 17,200 sq. ft. lot, or 0.3949 acres; Two structures total approximately 2,886 SF
