Office/Warehouse Flex
For Sale
Contact for pricing
3760-3788 NW 124th Ave, Coral Springs, FL 33065
Flex condo features a mezzanine office and a 10x10 grade-level roll-up door for loading within the warehouse.
Property Size1,672 SF
Price / SF$328.95
Days on Market62
Property Features for 3760-3788 NW 124th Ave
General Information
Standard status
Active
Size
1,672 SF
Property subtype
INDUSTRIAL
Zoning
IRD
Additional Details
Highway Access
Yes
Drive-In Doors
1
Listing Agency:
Total Real Estate Consultants Inc
(954) 341-3294
Listed By:
Joe Pelayo · License #3005451
(954) 224-8773
Source:
Moodyscre
Added: Jul 7
Changed: Aug 23
Last Checked: Sep 5 at 9:32AM
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 Total Real Estate Consultants Inc
Investment Insights
Based on property information with market context.
The Horizon Center offers an office/warehouse condo with approximately 20% office use and a mezzanine office for additional workspace while preserving warehouse capacity. The warehouse includes one grade-level roll-up door sized 10x10, supporting efficient loading and operations for a variety of business needs.
Located within Coral Springs Corporate Park, the property provides convenient access to Wiles Rd, Coral Ridge Dr, University Dr, the Sawgrass Expressway, and Florida’s Turnpike.
The property is zoned IRD (Industrial Research & Development), making it well suited for qualifying uses such as contractors, distributors, e-commerce businesses, service providers, light manufacturing operations, and technology companies.
Located within Coral Springs Corporate Park, the property provides convenient access to Wiles Rd, Coral Ridge Dr, University Dr, the Sawgrass Expressway, and Florida’s Turnpike.
The property is zoned IRD (Industrial Research & Development), making it well suited for qualifying uses such as contractors, distributors, e-commerce businesses, service providers, light manufacturing operations, and technology companies.
Key Highlights
- 1,672± SF office/warehouse condo in The Horizon Center at Coral Springs Corporate Park
- Approximately 20% office with a mezzanine office for additional workspace
- Warehouse includes a 10x10 grade‑level roll‑up door for loading and operational 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
$27,746
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
5.04%
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%
$554,920
$554.9K
Cap Rate 7%
$396,371
$396.4K
Cap Rate 9%
$308,289
$308.3K
Market Conditions
NOI Build-Up for 1,672 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
$34.1K $20.40/SF
− Vacancy
−$1.5K −$0.88/SF
EGI
$32.6K $19.52/SF
− OpEx
−$4.9K −$2.93/SF
NOI
$27.7K $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%
$554,920
Cap Rate 7%
$396,371
Cap Rate 9%
$308,289
Alternative Uses
Best Use
Warehouse
$396.4K
$346.8K – $462.4K
NOI $27,746 @ 7.0% cap · market cap 5.04%
Second Best
Industrial
$326.4K
$285.6K – $380.8K
NOI $22,849 @ 7.0% cap · market cap 4.15%
Theoretical Best
Specialty Retail
$2.85M
$2.49M – $3.33M
NOI $199,587 @ 7.0% cap · market cap 36.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
967
Businesses Nearby
Balanced
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- DEFANCY — 3257 NW 118th Dr, Coral Springs, FL 33065
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- Door To Door Catering Inc — 7041 W Commercial Blvd, #6d, Tamarac, FL 33319
- JULIANS ON WHEELS — 11570 Wiles Rd, Coral Springs, FL 33076
Frequently Asked Questions
What type of property is this?
Flex space - Flex condo features a mezzanine office and a 10x10 grade-level roll-up door for loading within the warehouse.
Where is this flex space located?
The property is located at 3760-3788 NW 124th Ave Coral Springs, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 1,672± SF office/warehouse condo in The Horizon Center at Coral Springs Corporate Park; Approximately 20% office with a mezzanine office for additional workspace; Warehouse includes a 10x10 grade‑level roll‑up door for loading and operational access
