Multi-Tenant Industrial Facility with
For Sale
$6,250,000
950 S Andrews Ave, Pompano Beach, FL 33069
Industrial flex building offers 14'–16' clear heights, grade-level loading, and second-floor office space on a fenced lot.
Property Size23,938 SF
Lot Size1.43 Acres
Price / SF$261.09
Days on Market48
Property Features for 950 S Andrews Ave
General Information
Standard status
Active
Size
23,938 SF
Total Parking Spaces
75
Lot size
1.43 Acres
Property subtype
Industrial
Zoning
I-1
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
7
Heavy Power
Yes
Building Details
Building Size
23,938 SF
Stories
2
Tenancy
Multi
Listing Agency:
Lee & Associates | Miami
(954) 558-1220
Listed By:
Greg Milopoulos · License #FL #BK3121415
(954) 558-1220
Source:
Lee-associates
Added: Jul 9
Changed: Aug 24
Last Checked: Aug 24 at 4:28AM
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 Lee & Associates | Miami
Investment Insights
Based on property information with market context.
Aquathin Business Centre is a multi-tenant industrial flex property totaling 23,938 SF on an approximately 1.43 AC fenced lot. The building is configured to serve multiple tenants and includes 14'-16' clear ceiling heights, three-phase power, and a functional layout supported by second-floor office space. Operationally, the site features grade-level loading with seven grade-level loading doors, along with on-site surface parking for 75+ vehicles. On-site signage opportunities are also available.
The property fronts Andrews Ave in Pompano Beach and is zoned I-1 Industrial. It offers convenient access to regional transportation and major roadways, with being minutes to Tri-Rail Station and I-95, and approximately 20 minutes to Fort Lauderdale International Airport.
The property fronts Andrews Ave in Pompano Beach and is zoned I-1 Industrial. It offers convenient access to regional transportation and major roadways, with being minutes to Tri-Rail Station and I-95, and approximately 20 minutes to Fort Lauderdale International Airport.
Key Highlights
- 23,938 SF industrial/flex building on 1.43 AC (62,291 SF) fenced lot
- 14'-16' clear ceiling height with three‑phase power and functional multi‑tenant layout
- Grade‑level loading with 7 grade‑level loading doors
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
$319,285
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
5.11%
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%
$6,385,700
$6.4M
Cap Rate 7%
$4,561,214
$4.6M
Cap Rate 9%
$3,547,611
$3.5M
Market Conditions
NOI Build-Up for 23,938 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
$517.1K $21.60/SF
− Vacancy
−$25.9K −$1.08/SF
EGI
$491.2K $20.52/SF
− OpEx
−$171.9K −$7.18/SF
NOI
$319.3K $13.34/SF
Area
Pompano Beach, FL
Vacancy
5.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
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%
$6,385,700
Cap Rate 7%
$4,561,214
Cap Rate 9%
$3,547,611
Alternative Uses
Best Use
Flex RnD
$4.56M
$3.99M – $5.32M
NOI $319,285 @ 7.0% cap · market cap 5.11%
Second Best
Warehouse
$2.51M
$2.20M – $2.93M
NOI $175,806 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$9.34M
$8.17M – $10.89M
NOI $653,507 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
7
Drive-in doors
Multi-tenant
Tenancy
Yes
Heavy power
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,745
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33069, FL
28,817
Population
16,052
Households
1.8
Avg Household Size
42
Median Age
32%
College-Educated
86%
High-School Grad
9.4 sq mi
ZIP Area
3,066
Density / Sq Mi
$57,462
Median Household Income
$35,725
Median Earnings
$1,685
Median Rent
$253,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex building offers 14'–16' clear heights, grade-level loading, and second-floor office space on a fenced lot.
Where is this flex space located?
The property is located at 950 S Andrews Ave Pompano Beach, FL.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: 23,938 SF industrial/flex building on 1.43 AC (62,291 SF) fenced lot; 14'-16' clear ceiling height with three‑phase power and functional multi‑tenant layout; Grade‑level loading with 7 grade‑level loading doors
