Four-Unit Flex Space
For Sale
$2,100,000
5453 NW 24 Street, Margate, FL 33063
Commercial Sale, Margate, FL
Property Size7,200 SF
Price / SF$291.67
Days on Market283
Property Features for 5453 NW 24 Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
M-1A
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 4, Bathroom 2, Bathroom 1
Subdivision
3631
Standard status
Active
APN
484230320100
Size
7,200 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
MARGATE COMMERCIAL CENTER 121-28B POR OF TRACT B DESC AS,COMM AT SW COR SAID TRACT B,E 228.86 N 75.08,W 20.52,N 4,W 19.2
Tax Annual Amount
7431
Legal Description
MARGATE COMMERCIAL CENTER 121-28B POR OF TRACT B DESC AS,COMM AT SW COR SAID TRACT B,E 228.86 N 75.08,W 20.52,N 4,W 19.2
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
air conditioned office
separate bathroom
impact windows and panel shutters
Building Details
Year built
2004
Floors in Building
2
Number of units
4
Flooring type
Concrete, Tile
Building materials
Concrete
Roof type
Composition
Listing Agency:
Dalton Wade Inc
(888) 668-8283
Listed By:
Thomas E Rispoli · License #3229277
(561) 704-4681
Added: Nov 30, 2025
Changed: Sep 9
Last Checked: Sep 9 at 9:06AM
MLS# R11144422
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This concrete flex-space complex comprises four warehouse condominium units offered together, with approximately 7,200 square feet in total. Each unit includes an approximately 1,200-square-foot lower level, a permitted load-bearing loft of approximately 600 square feet, an air-conditioned office, and a private bathroom. Warehouse areas provide 18-foot clear ceiling height and a 12-foot by 14-foot electric overhead door. Impact windows and panel shutters serve the first floors, while concrete and tile flooring are used throughout the property. Central air conditioning and public water and sewer support the improvements.
Located at 5453 NW 24 Street in Margate, the property carries M-1A zoning and is within a professionally maintained industrial park. The building was constructed in 2004, and roof work was completed in October 2025 with a 20-year warranty. All four units are currently occupied.
Located at 5453 NW 24 Street in Margate, the property carries M-1A zoning and is within a professionally maintained industrial park. The building was constructed in 2004, and roof work was completed in October 2025 with a 20-year warranty. All four units are currently occupied.
Key Highlights
- Four warehouse condominium units offered together with approximately 7,200 square feet total
- Each unit includes approximately 1,200 SF of lower‑level area plus a permitted approximately 600 SF load‑bearing loft
- 18‑foot clear ceiling height and a 12' x 14' electric overhead door in each unit
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
$190,836
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
9.09%
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%
$3,816,720
$3.8M
Cap Rate 7%
$2,726,229
$2.7M
Cap Rate 9%
$2,120,400
$2.1M
Market Conditions
NOI Build-Up for 7,200 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
$328.3K $45.60/SF
− Vacancy
−$73.9K −$10.26/SF
EGI
$254.4K $35.34/SF
− OpEx
−$63.6K −$8.84/SF
NOI
$190.8K $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%
$3,816,720
Cap Rate 7%
$2,726,229
Cap Rate 9%
$2,120,400
Alternative Uses
Best Use
Office B
$2.73M
$2.39M – $3.18M
NOI $190,836 @ 7.0% cap · market cap 9.09%
Second Best
Flex RnD
$2.26M
$1.98M – $2.64M
NOI $158,371 @ 7.0% cap · market cap 7.54%
Theoretical Best
Office A
$3.65M
$3.20M – $4.26M
NOI $255,700 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
4
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,798
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33063, FL
56,296
Population
27,019
Households
2.1
Avg Household Size
45
Median Age
28%
College-Educated
89%
High-School Grad
8.2 sq mi
ZIP Area
6,865
Density / Sq Mi
$62,930
Median Household Income
$38,038
Median Earnings
$1,790
Median Rent
$270,100
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 - Concrete industrial condominium property with office areas, loft storage, overhead doors, and M-1A zoning.
Where is this flex space located?
The property is located at 5453 NW 24 Street Margate, FL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Four warehouse condominium units offered together with approximately 7,200 square feet total; Each unit includes approximately 1,200 SF of lower‑level area plus a permitted approximately 600 SF load‑bearing loft; 18‑foot clear ceiling height and a 12' x 14' electric overhead door in each unit
