Office Condo with Reception and
For Sale
$230,000
5850 Coral Ridge Drive #202 Coral, Pompano Beach, FL 33076
603 SF office condo with reception, open workspace, two offices, and included furniture in a heavily traveled corridor.
Property Size514 SF
Price / SF$381.43
Days on Market74
Property Features for 5850 Coral Ridge Drive #202 Coral
General Information
Standard status
Active
Size
514 SF
Class
A
Property subtype
Single Tenant Office
Additional Details
Highway Access
Yes
Building Details
Building Size
514 SF
Year Built
2007
Listing Agency:
Keyes Commercial North
(954) 649-0666
Listed By:
Michael Jacobs · License #BK3436850
(954) 649-0666
Source:
Thebrokerlist
Added: Jun 16
Changed: Aug 23
Last Checked: Aug 28 at 6:51AM
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 Keyes Commercial North
Investment Insights
Based on property information with market context.
This 603 SF office condo includes a reception area, open workspace, and two private offices, with all furniture included. The space is serviced by air conditioning and is supported by building security. Additional conveniences include 24-hour access and elevator service.
The unit is situated at the northwest quadrant of Coral Ridge Drive and Sawgrass Expressway in Coral Springs, Florida. The property offers visibility and easy access from Sawgrass Expressway and is located within a densely populated, heavily traveled commercial corridor with ample parking.
This layout suits professional and administrative users who want a ready-to-occupy office configuration with both a welcoming reception area and separate offices. For buyers seeking an office condo with furniture already in place, the included amenity set—24-hour access, security system, air conditioning, and elevator access—supports day-to-day operations.
The unit is situated at the northwest quadrant of Coral Ridge Drive and Sawgrass Expressway in Coral Springs, Florida. The property offers visibility and easy access from Sawgrass Expressway and is located within a densely populated, heavily traveled commercial corridor with ample parking.
This layout suits professional and administrative users who want a ready-to-occupy office configuration with both a welcoming reception area and separate offices. For buyers seeking an office condo with furniture already in place, the included amenity set—24-hour access, security system, air conditioning, and elevator access—supports day-to-day operations.
Key Highlights
- 603 SF office condo built in 2007 in Coral Springs, FL
- Reception area plus open workspace and 2 offices
- Furniture included with the 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
$11,901
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
5.17%
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%
$238,020
$238.0K
Cap Rate 7%
$170,014
$170.0K
Cap Rate 9%
$132,233
$132.2K
Market Conditions
NOI Build-Up for 603 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
$18.7K $30.96/SF
− Vacancy
−$2.8K −$4.64/SF
EGI
$15.9K $26.32/SF
− OpEx
−$4.0K −$6.58/SF
NOI
$11.9K $19.74/SF
Area
Pompano Beach, FL
Vacancy
15.00%
Lease Rate
$30.96 /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%
$238,020
Cap Rate 7%
$170,014
Cap Rate 9%
$132,233
Alternative Uses
Best Use
Office B
$170.0K
$148.8K – $198.4K
NOI $11,901 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$235.2K
$205.8K – $274.4K
NOI $16,462 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
791
Businesses Nearby
Explore this area
Business Placement
Demographics for 33076, FL
41,826
Population
13,999
Households
3
Avg Household Size
40
Median Age
61%
College-Educated
98%
High-School Grad
10.8 sq mi
ZIP Area
3,873
Density / Sq Mi
$174,560
Median Household Income
$76,035
Median Earnings
$3,243
Median Rent
$745,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - 603 SF office condo with reception, open workspace, two offices, and included furniture in a heavily traveled corridor.
Where is this office units located?
The property is located at 5850 Coral Ridge Drive #202 Coral Pompano Beach, FL.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 603 SF office condo built in 2007 in Coral Springs, FL; Reception area plus open workspace and 2 offices; Furniture included with the unit
