Flex Space with High-Ceiling
For Sale
$280,000
Pending
2950 Glades Cir Unit 17, Weston, FL 33327
Office and warehouse areas include air conditioning, LED lighting, and a street-level loading door.
Property Size1,534 SF
Days on Market2394
Property Features for 2950 Glades Cir Unit 17
General Information
Standard status
Pending
Size
1,534 SF
Property subtype
General Commercial
Warehouse & Industrial
Drive-In Doors
1
Conditioned Warehouse
Yes
Additional Details
HOA Fee
$700
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,824
Amenities
3
Building Details
Year Built
2005
Listing Agency:
East Coast Realty Group LLC
(954) 347-7445
Listed By:
Henrique Lopez · License #3379145
(954) 347-7445
Source:
Xome
Added: Feb 9, 2020
Changed: Aug 29
Last Checked: Jul 25 at 2:02AM
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 East Coast Realty Group LLC
Investment Insights
Based on property information with market context.
This 1,534-square-foot flex space combines office and warehouse components within a commercial condominium. Air conditioning serves both the office and warehouse areas, while LED fixtures provide lighting throughout the warehouse. The bay includes a high ceiling, a motorized door, and one street-level loading door.
Located at 2950 Glades Cir #17 in Weston, Florida, the property is near I-75 with access to major highways. Association rules prohibit retail use. The office and warehouse areas are contained within the same commercial condo unit, with climate control provided in both spaces and loading access at street level.
Located at 2950 Glades Cir #17 in Weston, Florida, the property is near I-75 with access to major highways. Association rules prohibit retail use. The office and warehouse areas are contained within the same commercial condo unit, with climate control provided in both spaces and loading access at street level.
Key Highlights
- 1534 SQ.FT. office/warehouse commercial condo
- High‑ceiling warehouse bay with motorized door
- One street‑level loading 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
$20,109
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
7.18%
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%
$402,180
$402.2K
Cap Rate 7%
$287,271
$287.3K
Cap Rate 9%
$223,433
$223.4K
Market Conditions
NOI Build-Up for 1,534 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
$25.0K $16.32/SF
− Vacancy
−$1.4K −$0.90/SF
EGI
$23.7K $15.42/SF
− OpEx
−$3.5K −$2.31/SF
NOI
$20.1K $13.11/SF
Area
Broward County, FL
Vacancy
5.50%
Lease Rate
$16.32 /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%
$402,180
Cap Rate 7%
$287,271
Cap Rate 9%
$223,433
Alternative Uses
Best Use
Office B
$580.8K
$508.2K – $677.7K
NOI $40,659 @ 7.0% cap · market cap 14.52%
Second Best
Flex RnD
$482.0K
$421.8K – $562.4K
NOI $33,742 @ 7.0% cap · market cap 12.05%
Theoretical Best
Office A
$778.3K
$681.0K – $908.0K
NOI $54,478 @ 7.0% cap · market cap 19.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33327, FL
22,174
Population
6,600
Households
3.4
Avg Household Size
40
Median Age
72%
College-Educated
98%
High-School Grad
147.6 sq mi
ZIP Area
150
Density / Sq Mi
$165,458
Median Household Income
$67,764
Median Earnings
$3,202
Median Rent
$691,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse areas include air conditioning, LED lighting, and a street-level loading door.
Where is this flex space located?
The property is located at 2950 Glades Cir Unit 17 Weston, FL.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 1534 SQ.FT. office/warehouse commercial condo; High‑ceiling warehouse bay with motorized door; One street‑level loading door
