Weston Commercial Property on
For Sale
$10,699,000
1455 N Park Dr, Weston, FL 33326
Two-building office property in Weston, Florida, near amenities.
Property Size31,904 SF
Lot Size2.24 Acres
Price / SF$507.37
Days on Market1670
Property Features for 1455 N Park Dr
General Information
Standard status
Active
Size
31,904 SF
Lot size
2.24 Acres
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$54,929
Building Details
Building Size
31,904 SF
Year Built
1993
Listing Agency:
BHHS EWM Realty
Listed By:
Kenneth Raymond · License #0613345
(786) 443-9649
Source:
Theelainegroup
Added: Feb 7, 2022
Changed: Aug 23
Last Checked: Sep 4 at 2:00AM
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 BHHS EWM Realty
Investment Insights
Based on property information with market context.
This commercial property in Weston, Florida, presents a rare opportunity for purchase. The location is considered prime, situated on a lake and in proximity to shopping, restaurants, highways, and Weston Road. The property includes two separate two-story office buildings. The North Building is approximately 10,817 square feet, and the South Building is approximately 21,087 square feet. The lot size is approximately 97,531 square feet. Both buildings feature private offices, bullpens, semi-private offices, conference rooms, bathrooms, and kitchen facilities. The buildings share parking. The current tenant's lease expires in March 2024 and is NNN.
Key Highlights
- Prime location in Weston, Florida, on a lake and close to shopping, restaurants, highways, and Weston Rd.
- Two separate office buildings: North Building (approx. 10,817 sqft) and South Building (approx. 21,087 sqft).
- Large lot size: approximately 97,531 sqft.
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
$558,911
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
5.22%
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%
$11,178,220
$11.2M
Cap Rate 7%
$7,984,443
$8.0M
Cap Rate 9%
$6,210,122
$6.2M
Market Conditions
NOI Build-Up for 21,087 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
$961.6K $45.60/SF
− Vacancy
−$216.4K −$10.26/SF
EGI
$745.2K $35.34/SF
− OpEx
−$186.3K −$8.84/SF
NOI
$558.9K $26.51/SF
Area
Broward County, FL
Vacancy
22.50%
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%
$11,178,220
Cap Rate 7%
$7,984,443
Cap Rate 9%
$6,210,122
Alternative Uses
Best Use
Office B
$7.98M
$6.99M – $9.32M
NOI $558,911 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.70M
$9.36M – $12.48M
NOI $748,883 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,665
Businesses Nearby
Explore this area
Business Placement
Demographics for 33326, FL
33,978
Population
12,679
Households
2.7
Avg Household Size
41
Median Age
58%
College-Educated
97%
High-School Grad
7.2 sq mi
ZIP Area
4,719
Density / Sq Mi
$113,935
Median Household Income
$53,634
Median Earnings
$2,381
Median Rent
$529,500
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?
Office building - Two-building office property in Weston, Florida, near amenities.
Where is this office building located?
The property is located at 1455 N Park Dr Weston, FL.
What is the asking price?
The asking price for this property is $10,699,000.
What are key features of this property?
This property features: Prime location in Weston, Florida, on a lake and close to shopping, restaurants, highways, and Weston Rd.; Two separate office buildings: North Building (approx. 10,817 sqft) and South Building (approx. 21,087 sqft).; Large lot size: approximately 97,531 sqft.
