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 Market329
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 1, Bathroom 3, Bathroom 2, Bathroom 4
Subdivision
3631
Standard status
Active
APN
484230320100
Size
7,200 SF
Additional Details
Tenant in Place
Yes
Property Use
Office/Warehouse
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
Building Details
Year built
2004
Floors in Building
2
Number of units
4
Flooring type
Tile, Concrete
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: Oct 23
Last Checked: Oct 25 at 4:06PM
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.
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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 / Yr
$190,836
Cap Rate
9.09%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Lease Details
18 ft
Clear height
4
Drive-in doors
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,798
Businesses Nearby
Balanced
Demand for This Use
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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
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Market
Vacancy Rate% for Office in South region
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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
