First-Floor Renovated Office
For Sale
$380,000
3015 Ocean Blvd, Fort Lauderdale, FL 33308
First-floor office suite with four renovated offices, hurricane impact windows/doors, and covered parking.
Property Size1,000 SF
Price / SF$380
Days on Market643
Property Features for 3015 Ocean Blvd
General Information
Standard status
Active
Size
1,000 SF
Total Parking Spaces
2
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$2,904
Amenities
hurricane impact doors and windows
cable and internet included in HOA
abundant guest parking
3
2 Parking Spaces.
920
City Road, State Road.
Building Details
Year Built
1974
Stories
1
Tenancy
Multi
Listing Agency:
Bradley & Associates Realty, I
Listed By:
Curtis Bradley · License #654514
(754) 264-2436
Source:
Xome
Added: Dec 5, 2024
Changed: Sep 1
Last Checked: Sep 9 at 6:36AM
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 Bradley & Associates Realty, I
Investment Insights
Based on property information with market context.
This first-floor office suite is located within a mixed-use commercial and residential building and features four completely renovated offices. The space is equipped with hurricane impact doors and windows, and cable and internet are included in the HOA. Two covered parking spaces are available for the suite, along with abundant guest parking.
The building is an 18-story, 199-unit property, positioned along a beachside boulevard and steps away from the Atlantic Ocean, offering a convenient setting for day-to-day business use.
The building is an 18-story, 199-unit property, positioned along a beachside boulevard and steps away from the Atlantic Ocean, offering a convenient setting for day-to-day business use.
Key Highlights
- 1,000 sq ft first‑floor office suite in a mixed‑use commercial and residential building
- Office includes four completely renovated offices
- Hurricane impact doors and windows throughout the office suite
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
$28,728
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
7.56%
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%
$574,560
$574.6K
Cap Rate 7%
$410,400
$410.4K
Cap Rate 9%
$319,200
$319.2K
Market Conditions
NOI Build-Up for 1,000 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
$45.6K $45.60/SF
− Vacancy
−$7.3K −$7.30/SF
EGI
$38.3K $38.30/SF
− OpEx
−$9.6K −$9.58/SF
NOI
$28.7K $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%
$574,560
Cap Rate 7%
$410,400
Cap Rate 9%
$319,200
Alternative Uses
Best Use
Office B
$410.4K
$359.1K – $478.8K
NOI $28,728 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$672.0K
$588.0K – $784.0K
NOI $47,040 @ 7.0% cap · market cap 12.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,381
Businesses Nearby
Explore this area
Business Placement
Demographics for 33308, FL
29,519
Population
23,230
Households
1.3
Avg Household Size
57
Median Age
56%
College-Educated
96%
High-School Grad
4.6 sq mi
ZIP Area
6,417
Density / Sq Mi
$83,413
Median Household Income
$58,600
Median Earnings
$1,850
Median Rent
$536,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Fort Lauderdale, FL
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Frequently Asked Questions
What type of property is this?
Office units - First-floor office suite with four renovated offices, hurricane impact windows/doors, and covered parking.
Where is this office units located?
The property is located at 3015 Ocean Blvd Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: 1,000 sq ft first‑floor office suite in a mixed‑use commercial and residential building; Office includes four completely renovated offices; Hurricane impact doors and windows throughout the office suite
