Turnkey Flex Office/Warehouse
For Sale
$549,900
Pending
4851 W Hillsboro Blvd 4a, Coconut Creek, FL 33073
Bright corner suite with private offices and a high-ceiling warehouse, with medical use permitted.
Property Size1,322 SF
Days on Market61
Property Features for 4851 W Hillsboro Blvd 4a
General Information
Standard status
Pending
Size
1,322 SF
Total Parking Spaces
1
Property subtype
Commercial
Additional Details
Business Included
Yes
Highway Access
Yes
Office Units
4
Taxes and HOA fees
Annual Taxes
$9,640
Building Details
Building Size
1,322 SF
Year Built
2006
Stories
1
Tenancy
Single
Listing Agency:
Real Broker, LLC
(954) 354-1000
Listed By:
David Dweck · License #0606571
(954) 354-1000
Source:
Elliman
Added: Jun 13
Changed: Aug 8
Last Checked: Jul 31 at 6:23AM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This turnkey flex office/warehouse corner unit features windows in every office for consistent natural light. The interior is built out with four private offices plus a stylish lobby and reception area, designed to support professional client-facing operations. In addition, the rear portion includes a spacious warehouse with a high ceiling, providing room for storage or light work. The space includes impact windows and doors, and the listing notes that furnishings and features may be included, supporting quick occupancy. A security camera and an inactive alarm system are also included, along with four private offices, a reception area, and reasonable monthly maintenance.
The unit is positioned for convenient access in North Coconut Creek, with proximity to major roads and highways. Surrounding amenities include dining and shopping, helping support employee commute needs and customer access.
With medical allowed and the combination of office buildout plus warehouse space, this suite can fit businesses that need both client-facing areas and functional back-of-house space. One assigned parking space and ample visitor parking help support daily operations and appointments, while the impact-rated openings and included security camera provide an added layer of day-to-day peace of mind for an incoming tenant or owner-operator.
The unit is positioned for convenient access in North Coconut Creek, with proximity to major roads and highways. Surrounding amenities include dining and shopping, helping support employee commute needs and customer access.
With medical allowed and the combination of office buildout plus warehouse space, this suite can fit businesses that need both client-facing areas and functional back-of-house space. One assigned parking space and ample visitor parking help support daily operations and appointments, while the impact-rated openings and included security camera provide an added layer of day-to-day peace of mind for an incoming tenant or owner-operator.
Key Highlights
- Built in 2006 corner unit with windows in every office for natural light
- Medical allowed, with a bright lobby and reception area
- Includes four private offices plus a spacious rear warehouse with high ceiling
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
$35,040
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
6.37%
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%
$700,800
$700.8K
Cap Rate 7%
$500,571
$500.6K
Cap Rate 9%
$389,333
$389.3K
Market Conditions
NOI Build-Up for 1,322 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
$60.3K $45.60/SF
− Vacancy
−$13.6K −$10.26/SF
EGI
$46.7K $35.34/SF
− OpEx
−$11.7K −$8.84/SF
NOI
$35.0K $26.51/SF
Area
Broward County, FL
Vacancy
22.50%
Lease Rate
$45.60 /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%
$700,800
Cap Rate 7%
$500,571
Cap Rate 9%
$389,333
Alternative Uses
Best Use
Office B
$500.6K
$438.0K – $584.0K
NOI $35,040 @ 7.0% cap · market cap 6.37%
Second Best
Flex RnD
$415.4K
$363.5K – $484.7K
NOI $29,079 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$670.7K
$586.9K – $782.5K
NOI $46,949 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Office units
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,216
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33073, FL
32,853
Population
12,708
Households
2.6
Avg Household Size
38
Median Age
38%
College-Educated
93%
High-School Grad
8.1 sq mi
ZIP Area
4,056
Density / Sq Mi
$99,269
Median Household Income
$50,754
Median Earnings
$2,193
Median Rent
$453,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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- Clean Eatz — 4800 W Hillsboro Blvd Suite A10, Coconut Creek, FL 33073
Frequently Asked Questions
What type of property is this?
Flex space - Bright corner suite with private offices and a high-ceiling warehouse, with medical use permitted.
Where is this flex space located?
The property is located at 4851 W Hillsboro Blvd 4a Coconut Creek, FL.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Built in 2006 corner unit with windows in every office for natural light; Medical allowed, with a bright lobby and reception area; Includes four private offices plus a spacious rear warehouse with high ceiling
