Built-Out Medical Office
For Sale
Contact for pricing
3850 Hollywood Blvd, Hollywood, FL 33021
Medical office condominium with building generator, monument signage, valet service, and dedicated parking.
Property Size2,929 SF
Price / SF$525
Days on Market802
Property Features for 3850 Hollywood Blvd
General Information
Standard status
Active
Size
2,929 SF
Total Parking Spaces
2
Property subtype
OFFICE
Amenities
valet parking
generator
monument signage
Listing Agency:
Cohen Commercial
(561) 248-6554
Listed By:
Bryan Cohen · License #BK667105
(561) 248-6554
Source:
Moodyscre
Added: Jun 21, 2024
Changed: Aug 30
Last Checked: Aug 30 at 11:39PM
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 Cohen Commercial
Investment Insights
Based on property information with market context.
This 2,929-square-foot medical office space is configured for medical use and includes two reserved parking spaces for the unit. The building is served by a generator, supporting continuity for the property’s medical-office operations. Monument signage is available, and valet parking is offered.
The property is located at 3850 Hollywood Blvd in Hollywood, Florida, near Memorial Regional Hospital and Kindred Hospital South Florida. Its existing medical build-out and parking allocation provide a functional setting for an office user seeking an established healthcare-oriented space.
The property is located at 3850 Hollywood Blvd in Hollywood, Florida, near Memorial Regional Hospital and Kindred Hospital South Florida. Its existing medical build-out and parking allocation provide a functional setting for an office user seeking an established healthcare-oriented space.
Key Highlights
- 2,929 SF medical office space with an existing medical build‑out
- Two dedicated parking spaces assigned to the unit
- Building generator serving the property
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
$56,544
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
3.68%
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%
$1,130,880
$1.1M
Cap Rate 7%
$807,771
$807.8K
Cap Rate 9%
$628,267
$628.3K
Market Conditions
NOI Build-Up for 2,929 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
$96.7K $33.00/SF
− Vacancy
−$21.3K −$7.26/SF
EGI
$75.4K $25.74/SF
− OpEx
−$18.8K −$6.44/SF
NOI
$56.5K $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%
$1,130,880
Cap Rate 7%
$807,771
Cap Rate 9%
$628,267
Alternative Uses
Best Use
Office B
$807.8K
$706.8K – $942.4K
NOI $56,544 @ 7.0% cap · market cap 3.68%
Second Best
Healthcare Medical
$589.9K
$516.2K – $688.2K
NOI $41,292 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,208 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,468
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33021, FL
50,091
Population
21,930
Households
2.3
Avg Household Size
43
Median Age
38%
College-Educated
91%
High-School Grad
8.8 sq mi
ZIP Area
5,692
Density / Sq Mi
$69,249
Median Household Income
$41,390
Median Earnings
$1,707
Median Rent
$395,800
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?
Medical Office Space - Medical office condominium with building generator, monument signage, valet service, and dedicated parking.
Where is this medical office space located?
The property is located at 3850 Hollywood Blvd Hollywood, FL.
What is the asking price?
The asking price for this property is $1,537,725.
What are key features of this property?
This property features: 2,929 SF medical office space with an existing medical build‑out; Two dedicated parking spaces assigned to the unit; Building generator serving the property
