Combined Office Condo
For Sale
$399,000
2450 HOLLYWOOD Blvd CU306 & 307, Hollywood, FL 33020
Two combined office condos in a professionally managed Center Court building with elevator access and deeded parking.
Property Size860 SF
Price / SF$463.95
Days on Market47
Property Features for 2450 HOLLYWOOD Blvd CU306 & 307
General Information
Standard status
Active
Size
860 SF
Total Parking Spaces
2
Property subtype
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$1,782
Building Details
Building Size
860 SF
Year Built
1975
Stories
8
Listing Agency:
Keller Williams Realty Profess
(954) 593-7467
Listed By:
Michael J Baran · License #B26052698
(954) 593-7467
Source:
Elliman
Added: Jul 16
Changed: Aug 26
Last Checked: Aug 30 at 7:23PM
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 Keller Williams Realty Profess
Investment Insights
Based on property information with market context.
This offering includes two combined office condo suites in the Center Court Commercial building, totaling approximately 860 SF. The functional layout features a spacious reception and main office area, a private executive office or conference room, a kitchen/break room, and storage. The suites also include two deeded parking spaces and two newer A/C units.
The building provides a professional lobby, elevator access, and ample guest parking. The property is located on Hollywood Boulevard with convenient access to I-95, US-1, Downtown Hollywood, Fort Lauderdale, and Miami.
As an owner-user or investor, the combined configuration supports professional office use with dedicated parking and maintained common areas within the Center Court Commercial building.
The building provides a professional lobby, elevator access, and ample guest parking. The property is located on Hollywood Boulevard with convenient access to I-95, US-1, Downtown Hollywood, Fort Lauderdale, and Miami.
As an owner-user or investor, the combined configuration supports professional office use with dedicated parking and maintained common areas within the Center Court Commercial building.
Key Highlights
- Two combined office condos totaling approx. 860 SF in the Center Court Commercial building
- Functional suite includes reception/main office, private executive office or conference room, kitchen/break room, and storage
- Includes two deeded parking spaces
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
$16,602
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
4.16%
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%
$332,040
$332.0K
Cap Rate 7%
$237,171
$237.2K
Cap Rate 9%
$184,467
$184.5K
Market Conditions
NOI Build-Up for 860 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
$28.4K $33.00/SF
− Vacancy
−$6.2K −$7.26/SF
EGI
$22.1K $25.74/SF
− OpEx
−$5.5K −$6.44/SF
NOI
$16.6K $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%
$332,040
Cap Rate 7%
$237,171
Cap Rate 9%
$184,467
Alternative Uses
Best Use
Office B
$237.2K
$207.5K – $276.7K
NOI $16,602 @ 7.0% cap · market cap 4.16%
Second Best
Healthcare Medical
$173.2K
$151.6K – $202.1K
NOI $12,124 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$336.4K
$294.4K – $392.5K
NOI $23,550 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,422
Businesses Nearby
Explore this area
Business Placement
Demographics for 33020, FL
45,044
Population
22,508
Households
2
Avg Household Size
41
Median Age
29%
College-Educated
89%
High-School Grad
6.0 sq mi
ZIP Area
7,507
Density / Sq Mi
$52,535
Median Household Income
$32,449
Median Earnings
$1,444
Median Rent
$306,700
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 - Two combined office condos in a professionally managed Center Court building with elevator access and deeded parking.
Where is this office units located?
The property is located at 2450 HOLLYWOOD Blvd CU306 & 307 Hollywood, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two combined office condos totaling approx. 860 SF in the Center Court Commercial building; Functional suite includes reception/main office, private executive office or conference room, kitchen/break room, and storage; Includes two deeded parking spaces
