Two-Story Flex
For Sale
$1,595,000
3650 Coral Ridge Dr Unit 104, Coral Springs, FL 33065
Air-conditioned workspace combines private offices, restrooms, assigned parking, and grade-level loading.
Property Size5,004 SF
Price / SF$318.75
Days on Market42
Property Features for 3650 Coral Ridge Dr Unit 104
General Information
Standard status
Active
Size
5,004 SF
Total Parking Spaces
11
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
1
Conditioned Warehouse
Yes
Building Details
Year Built
1986
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Fidelity Real Estate Group LLC
(954) 345-9144
Listed By:
Carlos A Montoya, Carlos Montoya · License #0623048
Source:
Chenoregroup
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 30 at 7:21PM
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 Fidelity Real Estate Group LLC
Investment Insights
Based on property information with market context.
This two-story flex property at 3650 Coral Ridge Dr Unit 104 provides 5,004 square feet of air-conditioned commercial space. The layout includes 8 private offices, two bathrooms, 18-foot ceilings, and a grade-level 10x10 roll-up door. The building was constructed in 1986 and includes 11 assigned parking spaces.
The property fronts Coral Ridge Drive in Coral Springs, with access to the Sawgrass Expressway and Florida’s Turnpike within minutes. Three adjacent units are also available for separate or combined purchase, creating a total of 13,491 square feet across the units described in the offering. Unit 102 measures 4,140 +/- square feet, while Unit 103 measures 4,335 square feet.
The property fronts Coral Ridge Drive in Coral Springs, with access to the Sawgrass Expressway and Florida’s Turnpike within minutes. Three adjacent units are also available for separate or combined purchase, creating a total of 13,491 square feet across the units described in the offering. Unit 102 measures 4,140 +/- square feet, while Unit 103 measures 4,335 square feet.
Key Highlights
- 5,004 square feet of air‑conditioned flex space
- 18‑foot ceilings and a grade‑level 10x10 roll‑up door
- 8 private offices, two bathrooms, and 11 assigned parking spaces
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
$83,038
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
5.21%
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%
$1,660,760
$1.7M
Cap Rate 7%
$1,186,257
$1.2M
Cap Rate 9%
$922,644
$922.6K
Market Conditions
NOI Build-Up for 5,004 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
$102.1K $20.40/SF
− Vacancy
−$4.4K −$0.88/SF
EGI
$97.7K $19.52/SF
− OpEx
−$14.7K −$2.93/SF
NOI
$83.0K $16.59/SF
Area
Coral Springs, FL
Vacancy
4.30%
Lease Rate
$20.40 /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%
$1,660,760
Cap Rate 7%
$1,186,257
Cap Rate 9%
$922,644
Alternative Uses
Best Use
Office B
$6.72M
$5.88M – $7.84M
NOI $470,659 @ 7.0% cap · market cap 29.51%
Second Best
Warehouse
$1.19M
$1.04M – $1.38M
NOI $83,038 @ 7.0% cap · market cap 5.21%
Theoretical Best
Specialty Retail
$8.53M
$7.47M – $9.96M
NOI $597,329 @ 7.0% cap · market cap 37.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,096
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33065, FL
59,668
Population
21,416
Households
2.8
Avg Household Size
36
Median Age
31%
College-Educated
93%
High-School Grad
8.6 sq mi
ZIP Area
6,938
Density / Sq Mi
$70,435
Median Household Income
$36,255
Median Earnings
$1,833
Median Rent
$416,800
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.
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Frequently Asked Questions
What type of property is this?
Flex space - Air-conditioned workspace combines private offices, restrooms, assigned parking, and grade-level loading.
Where is this flex space located?
The property is located at 3650 Coral Ridge Dr Unit 104 Coral Springs, FL.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: 5,004 square feet of air‑conditioned flex space; 18‑foot ceilings and a grade‑level 10x10 roll‑up door; 8 private offices, two bathrooms, and 11 assigned parking spaces
