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Property profile

1950 2060th Nw 55th Ave Margate, FL 33063

OFF-MARKET
Warehouses
Property ID
US19-0599317
27,032 SF 5.39 ac lot Built 1982
Entity Owned 22-yr Hold Absentee Owner Free & Clear

Property summary

AI-generated overview

The Margate Industrial Warehouse Park offers a diverse range of flexible and warehouse spaces, ideal for various business needs. This multi-tenant property comprises five buildings totaling 120,341 square feet of rentable area, divided into 141 individual units. Currently, 3,600 square feet of contiguous space is immediately available, with the minimum divisible unit size being 852 square feet. The property's location within the M-1a Industrial Park District provides excellent accessibility, situated on Copans Road, less than one mile from US Route 441. This prime location ensures convenient transportation and logistics for businesses of all sizes. The flexible space options cater to a wide array of industrial and commercial uses, making it an attractive opportunity for companies seeking efficient and well-located facilities. The property's layout allows for customization to meet specific business requirements, offering a versatile solution for various operational needs. With its strategic location and adaptable spaces, this industrial park presents a compelling opportunity for businesses seeking a functional and accessible workspace. The available space offers a chance to establish or expand operations in a thriving industrial area with convenient access to major transportation routes.

Property profile

Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1982
Construction CONCRETE
Total area 27,032 SF
Lot 5.39 ac (234,705 SF)
Zoning code M-1
APN 48-42-30-09-0010
UPID US19-0599317

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$5.45M
Comparable Approach Comparable
$7.40M
Blend (final) Blend
$7.69M

Owner & transaction history

since 2003
3 recorded transactions
2017
Price N/A
2003
$7.1M
1969
Price N/A

Zoning & alternative use

M-1 · Margate, FL
Zoning description

The M-1 light industrial district is intended to provide for light manufacturing and heavy commercial uses for large corporations as well as small entrepreneurs in multitenant warehouse space

General category INDUSTRIAL
Top alternative use upside
Industrial (general) $12.4M +9.8%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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