Medical Office Space with Five
For Sale
$1,532,500
3800 S Ocean Dr, Hollywood, FL 33019
Commercial Sale, Hollywood, FL
Property Size2,500 SF
Lot Size0.06 Acres
Price / SF$613
Days on Market80
Property Features for 3800 S Ocean Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Mixed Use
Subdivision
Hollywood Beach
View
City
Directions
From I-95, exit on Hollywood Blvd and head East toward the beach. Turn right (South) onto S Ocean Dr (A1A). Proceed to 3800 S Ocean Dr. The Hallmark Building will be on your right (West side of the street), diagonally across from the Diplomat Beach Resort.
Standard status
Active
Lot size
0.06 Acres
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1973
Flooring type
Marble
Roof type
Flat
Listing Agency:
CASTELL BLAU LLC
(786) 425-3185
Listed By:
Daniel Pimas · License #3508618
(305) 676-6090
Added: Jul 2
Changed: Sep 4
Last Checked: Sep 19 at 5:06PM
MLS# 11866621
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This medical office property comprises two contiguous units in the Hallmark Building, with 5 private offices arranged for professional practice use. High ceilings, glass doors, marble flooring, smart lighting, and central A/C create a polished interior environment. The property was built in 1973 and includes a flat roof and electric heating.
Located at 3800 S Ocean Dr in Hollywood, the building sits across from the beach and near major highways. Optional remodeling services are available separately through a General Contractor, including in-office sink installation, structural reinforcement, and customized reception work.
Located at 3800 S Ocean Dr in Hollywood, the building sits across from the beach and near major highways. Optional remodeling services are available separately through a General Contractor, including in-office sink installation, structural reinforcement, and customized reception work.
Key Highlights
- Two contiguous medical office units with 5 private offices
- 2,500 sq. ft. of combined office space
- High ceilings, glass doors, and marble flooring
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
$48,263
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
3.15%
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%
$965,260
$965.3K
Cap Rate 7%
$689,471
$689.5K
Cap Rate 9%
$536,256
$536.3K
Market Conditions
NOI Build-Up for 2,500 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
$82.5K $33.00/SF
− Vacancy
−$18.2K −$7.26/SF
EGI
$64.4K $25.74/SF
− OpEx
−$16.1K −$6.44/SF
NOI
$48.3K $19.31/SF
Area
Hollywood, FL
Vacancy
22.00%
Lease Rate
$33.00 /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%
$965,260
Cap Rate 7%
$689,471
Cap Rate 9%
$536,256
Alternative Uses
Best Use
Office B
$689.5K
$603.3K – $804.4K
NOI $48,263 @ 7.0% cap · market cap 3.15%
Second Best
Healthcare Medical
$503.5K
$440.6K – $587.4K
NOI $35,244 @ 7.0% cap · market cap 2.30%
Theoretical Best
Office A
$978.0K
$855.8K – $1.14M
NOI $68,460 @ 7.0% cap · market cap 4.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,117
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33019, FL
15,497
Population
12,453
Households
1.2
Avg Household Size
55
Median Age
60%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
4,188
Density / Sq Mi
$94,824
Median Household Income
$59,226
Median Earnings
$1,983
Median Rent
$631,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two connected units offer private offices, elevated ceilings, marble flooring, and central A/C for a professional clinical setting.
Where is this medical office space located?
The property is located at 3800 S Ocean Dr Hollywood, FL.
What is the asking price?
The asking price for this property is $1,532,500.
What are key features of this property?
This property features: Two contiguous medical office units with 5 private offices; 2,500 sq. ft. of combined office space; High ceilings, glass doors, and marble flooring
