Coral Springs Flex Warehouse
For Sale
Contact for pricing
4324 NW 120th Ave, Coral Springs, FL 33065
2,030 SF flex unit in prime Coral Springs location.
Property Size2,030 SF
Price / SF$381.77
Days on Market199
Property Features for 4324 NW 120th Ave
General Information
Standard status
Active
Size
2,030 SF
Property subtype
Industrial
Zoning
IRD
Building Details
Year Built
2008
Listing Agency:
JSM Realty Services, Inc.
(561) 929-7482
Listed By:
Sergio Commisso · License #60619990
Source:
Crexi
Added: Feb 12
Changed: Aug 22
Last Checked: Aug 14 at 7:24AM
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 JSM Realty Services, Inc.
Investment Insights
Based on property information with market context.
This light industrial condo warehouse/flex unit, built in 2007, offers approximately 2,030 square feet of space. The unit features around 1,700 square feet of warehouse area and a 320 square feet built-out office/showroom space, complete with a private restroom. The layout is easily reconfigurable to suit various needs. The property includes 18' clear ceilings and an oversized 16' roll-up door. Constructed with concrete, including the roof and demising walls, the unit is equipped with hurricane-impact doors and windows, ensuring durability and safety. It features 150-amp 3-phase power, emergency lighting, and ample parking. An adjacent unit is also available, presenting a potential expansion or portfolio opportunity of 4,060 square feet. The property is ideally suited for owner-users looking to expand or investors interested in flexible industrial spaces. Located in Coral Springs, it is situated one mile from the Sawgrass Expressway, providing direct access to the Florida Turnpike, I-95, I-595, and I-75. The property is available for immediate occupancy.
Key Highlights
- Prime Coral Springs location with immediate access to major highways.
- Rare opportunity to purchase a 2,030 SF light industrial condo warehouse/flex unit, or expand to 4,060 SF with adjacent unit.
- 18' clear ceilings and oversized 16' roll‑up door ideal for warehouse operations.
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
$27,742
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
3.58%
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%
$554,840
$554.8K
Cap Rate 7%
$396,314
$396.3K
Cap Rate 9%
$308,244
$308.2K
Market Conditions
NOI Build-Up for 2,030 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
$41.4K $20.40/SF
− Vacancy
−$1.8K −$0.88/SF
EGI
$39.6K $19.52/SF
− OpEx
−$11.9K −$5.86/SF
NOI
$27.7K $13.67/SF
Area
Coral Springs, FL
Vacancy
4.30%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
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%
$554,840
Cap Rate 7%
$396,314
Cap Rate 9%
$308,244
Alternative Uses
Best Use
Industrial
$396.3K
$346.8K – $462.4K
NOI $27,742 @ 7.0% cap · market cap 3.58%
Second Best
Flex RnD
$368.0K
$322.0K – $429.3K
NOI $25,760 @ 7.0% cap · market cap 3.32%
Theoretical Best
Specialty Retail
$3.46M
$3.03M – $4.04M
NOI $242,322 @ 7.0% cap · market cap 31.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
819
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 2,030 SF flex unit in prime Coral Springs location.
Where is this flex space located?
The property is located at 4324 NW 120th Ave Coral Springs, FL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Prime Coral Springs location with immediate access to major highways.; Rare opportunity to purchase a 2,030 SF light industrial condo warehouse/flex unit, or expand to 4,060 SF with adjacent unit.; 18' clear ceilings and oversized 16' roll‑up door ideal for warehouse operations.
