Turnkey Freestanding Office
For Sale
$2,695,000
212 8th Street, Fort Lauderdale, FL 33316
Renovated, turnkey office building with multiple suites and front-to-rear parking for flexible tenant use.
Property Size3,480 SF
Price / SF$774.43
Days on Market469
Property Features for 212 8th Street
General Information
Standard status
Active
Size
3,480 SF
Total Parking Spaces
15
Property subtype
General Commercial
Zoning
RAC-CC
Additional Details
Highway Access
Yes
Office Units
10
Taxes and HOA fees
Annual Taxes
$35,830
Amenities
3
Building Details
Year Built
1986
Listing Agency:
(954) 804-2864
Listed By:
Douglas Elliman
(954) 804-2864
Source:
Xome
Added: May 17, 2025
Changed: Aug 25
Last Checked: Aug 26 at 6:55AM
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 Douglas Elliman
Investment Insights
Based on property information with market context.
This turnkey, freestanding office building totals 3,480 square feet and is zoned RAC-CC. Both the east and west sides of the building have undergone complete renovations. The east side includes five separate office suites plus a kitchen/common area, waiting room, and restroom. The west side includes five separate office suites with a reception area, waiting room, conference room, kitchen, and restroom.
The property offers access to front and rear parking with a total of 15 spaces, including one covered space. It sits on a 14,000 square foot lot. The building is described as being in the heart of downtown Fort Lauderdale, within walking distance to the courthouse and Las Olas, with nearby restaurants, and just minutes to major highways.
With its split layout and suite-style configuration, the property can suit an owner-operator seeking flexible space or a buyer looking for a building that supports multiple offices under one roof. The building can be delivered vacant, with the note that there is currently one tenant on a month-to-month basis.
The property offers access to front and rear parking with a total of 15 spaces, including one covered space. It sits on a 14,000 square foot lot. The building is described as being in the heart of downtown Fort Lauderdale, within walking distance to the courthouse and Las Olas, with nearby restaurants, and just minutes to major highways.
With its split layout and suite-style configuration, the property can suit an owner-operator seeking flexible space or a buyer looking for a building that supports multiple offices under one roof. The building can be delivered vacant, with the note that there is currently one tenant on a month-to-month basis.
Key Highlights
- 1987‑built, 3,480 SF freestanding office building in downtown Fort Lauderdale, zoned RAC‑CC
- East side renovated layout with 5 separate office suites plus kitchen/common area, waiting room, and restroom
- West side renovated layout with 5 separate office suites plus reception area, waiting room, conference room, kitchen, and restroom
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
$99,973
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
3.71%
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%
$1,999,460
$2.0M
Cap Rate 7%
$1,428,186
$1.4M
Cap Rate 9%
$1,110,811
$1.1M
Market Conditions
NOI Build-Up for 3,480 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
$158.7K $45.60/SF
− Vacancy
−$25.4K −$7.30/SF
EGI
$133.3K $38.30/SF
− OpEx
−$33.3K −$9.58/SF
NOI
$100.0K $28.73/SF
Area
Fort Lauderdale, FL
Vacancy
16.00%
Lease Rate
$45.60 /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%
$1,999,460
Cap Rate 7%
$1,428,186
Cap Rate 9%
$1,110,811
Alternative Uses
Best Use
Office B
$1.43M
$1.25M – $1.67M
NOI $99,973 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.34M
$2.05M – $2.73M
NOI $163,699 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6,741
Businesses Nearby
Explore this area
Business Placement
Demographics for 33316, FL
12,669
Population
8,946
Households
1.4
Avg Household Size
50
Median Age
54%
College-Educated
95%
High-School Grad
4.1 sq mi
ZIP Area
3,090
Density / Sq Mi
$89,200
Median Household Income
$52,992
Median Earnings
$2,047
Median Rent
$793,500
Median Home Value
Market
Vacancy Rate% for Office in Fort Lauderdale, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Renovated, turnkey office building with multiple suites and front-to-rear parking for flexible tenant use.
Where is this office units located?
The property is located at 212 8th Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $2,695,000.
What are key features of this property?
This property features: 1987‑built, 3,480 SF freestanding office building in downtown Fort Lauderdale, zoned RAC‑CC; East side renovated layout with 5 separate office suites plus kitchen/common area, waiting room, and restroom; West side renovated layout with 5 separate office suites plus reception area, waiting room, conference room, kitchen, and restroom
