Versatile Multi-Flex Space For
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405 SW 148th Avenue, Davie, FL 33325
38,000 sqft light industrial space near I-75 and 595.
Property Size38,000 SF
Lot Size2.00 Acres
Price / SF$313.16
Days on Market718
Property Features for 405 SW 148th Avenue
General Information
Standard status
Active
Size
38,000 SF
Lot size
2.00 Acres
Property subtype
Mixed Use
Building Details
Year Built
2002
Units
1
Listing Agency:
Tommy Crivello Real Estate Group
Listed By:
Alexander Fernandez · License #FL SL3399994
(866) 738-9476
Source:
Crexi
Added: Sep 17, 2024
Changed: Aug 19
Last Checked: Sep 2 at 3:48PM
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 Tommy Crivello Real Estate Group
Investment Insights
Based on property information with market context.
This property features 38,000 square feet of light industrial multi-flex space. Situated just off I-75 and 595, the location provides accessibility and visibility. There are 81 parking spaces available. The site is suitable for industrial, warehouse, or mixed-use purposes.
Key Highlights
- 38,000 sqft of versatile light industrial multi‑flex space.
- Strategically located just off I‑75 and 595, offering unparalleled accessibility and visibility.
- 2‑acre +/- property.
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
$504,322
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
4.24%
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%
$10,086,440
$10.1M
Cap Rate 7%
$7,204,600
$7.2M
Cap Rate 9%
$5,603,578
$5.6M
Market Conditions
NOI Build-Up for 38,000 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
$611.0K $16.08/SF
− Vacancy
−$17.7K −$0.47/SF
EGI
$593.3K $15.61/SF
− OpEx
−$89.0K −$2.34/SF
NOI
$504.3K $13.27/SF
Area
Davie, FL
Vacancy
2.90%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
15.00%
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%
$10,086,440
Cap Rate 7%
$7,204,600
Cap Rate 9%
$5,603,578
Alternative Uses
Best Use
Warehouse
$7.20M
$6.30M – $8.41M
NOI $504,322 @ 7.0% cap · market cap 4.24%
Second Best
Mixed Use
$6.12M
$5.36M – $7.14M
NOI $428,566 @ 7.0% cap · market cap 3.60%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
Explore this area
Business Placement
Demographics for 33325, FL
31,556
Population
11,052
Households
2.9
Avg Household Size
40
Median Age
38%
College-Educated
89%
High-School Grad
9.4 sq mi
ZIP Area
3,357
Density / Sq Mi
$96,004
Median Household Income
$42,716
Median Earnings
$2,052
Median Rent
$406,900
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.
Frequently Asked Questions
What type of property is this?
Mixed-use property - 38,000 sqft light industrial space near I-75 and 595.
Where is this mixed-use property located?
The property is located at 405 SW 148th Avenue Davie, FL.
What is the asking price?
The asking price for this property is $11,900,000.
What are key features of this property?
This property features: 38,000 sqft of versatile light industrial multi‑flex space.; Strategically located just off I‑75 and 595, offering unparalleled accessibility and visibility.; 2‑acre +/- property.
