Remodeled Corner Office
For Sale
$595,000
212-3800 S Ocean Dr, Hollywood, FL 33019
Turnkey, fully remodeled corner office with three parking spaces and furnished, ready-to-occupy setup.
Property Size1,226 SF
Price / SF$485.32
Days on Market778
Property Features for 212-3800 S Ocean Dr
General Information
Standard status
Active
Size
1,226 SF
Total Parking Spaces
3
Taxes and HOA fees
Annual Taxes
$5,750
Listing Agency:
Prestige Luxury Real Estate
(305) 230-8884
Listed By:
Marco Cunha
(305) 230-8884
Source:
Exprealty
Added: Jul 15, 2024
Changed: Aug 20
Last Checked: Aug 30 at 8:47PM
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 Prestige Luxury Real Estate
Investment Insights
Based on property information with market context.
This fully remodeled corner office is designed for immediate occupancy and turnkey operations. The space includes a renovated interior with wallpaper on all walls, drop ceilings with recessed LED lighting, and a kitchen finished as part of the renovation. The sale is set up to be plug-and-work, with high-quality customized furniture, two 75-inch TVs, and five computers with a multi-monitor setup included.
The office is located exactly above Citibank and is offered as a complete, ready-to-occupy suite at 212-3800 S Ocean Dr, Hollywood, FL. The suite totals 1,226 square feet and comes with three parking spaces, with one on the ground floor and two on the 4th floor.
For tenants and buyers seeking a professionally finished office without the need to start from scratch, this layout is well-suited to a business that wants to move in quickly. The included furnishings and equipment support immediate day-to-day use, while the dedicated parking arrangement makes arrival and operations more straightforward for staff and clients.
The office is located exactly above Citibank and is offered as a complete, ready-to-occupy suite at 212-3800 S Ocean Dr, Hollywood, FL. The suite totals 1,226 square feet and comes with three parking spaces, with one on the ground floor and two on the 4th floor.
For tenants and buyers seeking a professionally finished office without the need to start from scratch, this layout is well-suited to a business that wants to move in quickly. The included furnishings and equipment support immediate day-to-day use, while the dedicated parking arrangement makes arrival and operations more straightforward for staff and clients.
Key Highlights
- Fully remodeled corner office directly above Citibank with 1,226 SF total area
- Asking $485/SF and ready to occupy
- Includes 3 parking spaces: 1 on the ground floor and 2 on the 4th floor
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
$23,668
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
3.98%
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%
$473,360
$473.4K
Cap Rate 7%
$338,114
$338.1K
Cap Rate 9%
$262,978
$263.0K
Market Conditions
NOI Build-Up for 1,226 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
$40.5K $33.00/SF
− Vacancy
−$8.9K −$7.26/SF
EGI
$31.6K $25.74/SF
− OpEx
−$7.9K −$6.44/SF
NOI
$23.7K $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%
$473,360
Cap Rate 7%
$338,114
Cap Rate 9%
$262,978
Alternative Uses
Best Use
Office B
$338.1K
$295.9K – $394.5K
NOI $23,668 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$479.6K
$419.7K – $559.6K
NOI $33,573 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
598
Businesses Nearby
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Turnkey, fully remodeled corner office with three parking spaces and furnished, ready-to-occupy setup.
Where is this office units located?
The property is located at 212-3800 S Ocean Dr Hollywood, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Fully remodeled corner office directly above Citibank with 1,226 SF total area; Asking $485/SF and ready to occupy; Includes 3 parking spaces: 1 on the ground floor and 2 on the 4th floor
