Office Flex
For Sale
Contact for pricing
2985 Center Port Circle, Pompano Beach, FL 33064
Three contiguous office flex units in a tilt-wall warehouse facility with surface parking and direct curb access.
Property Size7,873 SF
Price / SF$336.59
Days on Market59
Property Features for 2985 Center Port Circle
General Information
Standard status
Active
Size
7,873 SF
Property subtype
Office, Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
3
Building Details
Year Built
2006
Listing Agency:
Transworld Commercial Real Estate
Listed By:
Alan Kaye · License #FL
Source:
Crexi
Added: Jun 10
Changed: Jul 10
Last Checked: Aug 5 at 1:29PM
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 Transworld Commercial Real Estate
Investment Insights
Based on property information with market context.
This property consists of three contiguous office flex condominiums totaling 7,873 SF within the Center Port Commerce Center. Constructed in 2006, the facility features durable concrete tilt-wall construction and a reinforced concrete slab foundation. The site includes on-site surface parking designed for employees, visitors, and service vehicles, supporting day-to-day operations for an office-and-warehouse style use.
The property provides approximately 160 linear feet of frontage along Center Port Circle with direct curb access for convenient ingress and egress. It is positioned within the Pompano Beach industrial submarket, with regional connectivity facilitated by close proximity to Powerline Road, Copans Road, Interstate 95, and Florida’s Turnpike.
The office flex configuration is well suited for warehouse, distribution, service-industrial, and light manufacturing uses, where a mix of working space and office functionality is needed. The arrangement of three contiguous condominiums also supports owner-users looking for an integrated setup, as well as investors seeking a presence within an established industrial center. The office buildout was completed by the owner, who was a contractor, and the improvements are intended to provide an attractive office component within the industrial environment.
The property provides approximately 160 linear feet of frontage along Center Port Circle with direct curb access for convenient ingress and egress. It is positioned within the Pompano Beach industrial submarket, with regional connectivity facilitated by close proximity to Powerline Road, Copans Road, Interstate 95, and Florida’s Turnpike.
The office flex configuration is well suited for warehouse, distribution, service-industrial, and light manufacturing uses, where a mix of working space and office functionality is needed. The arrangement of three contiguous condominiums also supports owner-users looking for an integrated setup, as well as investors seeking a presence within an established industrial center. The office buildout was completed by the owner, who was a contractor, and the improvements are intended to provide an attractive office component within the industrial environment.
Key Highlights
- Three contiguous office flex condominiums totaling 7,873 SF in Center Port Commerce Center
- Built in 2006 with durable concrete tilt‑wall construction and reinforced concrete slab foundation
- Approx. 160 linear feet of frontage along Center Port Circle with direct curb access
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
$155,389
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
5.86%
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%
$3,107,780
$3.1M
Cap Rate 7%
$2,219,843
$2.2M
Cap Rate 9%
$1,726,544
$1.7M
Market Conditions
NOI Build-Up for 7,873 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
$243.7K $30.96/SF
− Vacancy
−$36.6K −$4.64/SF
EGI
$207.2K $26.32/SF
− OpEx
−$51.8K −$6.58/SF
NOI
$155.4K $19.74/SF
Area
Pompano Beach, FL
Vacancy
15.00%
Lease Rate
$30.96 /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%
$3,107,780
Cap Rate 7%
$2,219,843
Cap Rate 9%
$1,726,544
Alternative Uses
Best Use
Office B
$2.22M
$1.94M – $2.59M
NOI $155,389 @ 7.0% cap · market cap 5.86%
Second Best
Flex RnD
$1.50M
$1.31M – $1.75M
NOI $105,010 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$3.07M
$2.69M – $3.58M
NOI $214,933 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
874
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33064, FL
62,429
Population
26,641
Households
2.3
Avg Household Size
39
Median Age
29%
College-Educated
82%
High-School Grad
10.2 sq mi
ZIP Area
6,120
Density / Sq Mi
$66,269
Median Household Income
$35,090
Median Earnings
$1,689
Median Rent
$293,100
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 - Three contiguous office flex units in a tilt-wall warehouse facility with surface parking and direct curb access.
Where is this flex space located?
The property is located at 2985 Center Port Circle Pompano Beach, FL.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Three contiguous office flex condominiums totaling 7,873 SF in Center Port Commerce Center; Built in 2006 with durable concrete tilt‑wall construction and reinforced concrete slab foundation; Approx. 160 linear feet of frontage along Center Port Circle with direct curb access
