Mid-Century Modern Mixed-Use
New
For Sale
$849,900
3197 NE 18TH Ter, Oakland Park, FL 33306
B1 zoning supports a residence with an attached professional office.
Property Size3,673 SF
Price / SF$212.48
Days on Market2
Property Features for 3197 NE 18TH Ter
General Information
Standard status
Active
Size
3,673 SF
Property subtype
Commercial
Zoning
B1
Property Condition
Severity
Repairs Needed
Evidence
the necessary updating
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$17,149
Building Details
Building Size
3,673 SF
Year Built
1963
Stories
2
Construction
Mid-Century modern
Listing Agency:
EXP REALTY LLC
Listed By:
Derek Cardinal · License #3564071
(954) 573-5513
Source:
Elliman
Added: Sep 19
Last Checked: Sep 19 at 2:40PM
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 EXP REALTY LLC
Investment Insights
Based on property information with market context.
This mixed-use property is a 1963 mid-century modern building designed by architect Dan Duckham as his personal residence and architectural studio. The approximately 4,000-square-foot structure features a distinctive rear section that extends over the waterfront on concrete pilings, along with gated site access.
B1 zoning permits a residential home with an attached professional office, providing flexibility within the existing configuration. The property is located at 3197 NE 18TH Ter in Oakland Park, Florida, and includes a waterfront setting with a design that incorporates cantilevered construction.
B1 zoning permits a residential home with an attached professional office, providing flexibility within the existing configuration. The property is located at 3197 NE 18TH Ter in Oakland Park, Florida, and includes a waterfront setting with a design that incorporates cantilevered construction.
Key Highlights
- Approximately 4,000 square feet; buyer to verify
- 1963 mid‑century modern construction
- Designed by architect Dan Duckham as a personal home and architectural studio
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
$69,000
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
8.12%
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%
$1,380,000
$1.4M
Cap Rate 7%
$985,714
$985.7K
Cap Rate 9%
$766,667
$766.7K
Market Conditions
NOI Build-Up for 4,000 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
$120.0K $30.00/SF
− Vacancy
−$9.6K −$2.40/SF
EGI
$110.4K $27.60/SF
− OpEx
−$41.4K −$10.35/SF
NOI
$69.0K $17.25/SF
Area
Broward County, FL
Vacancy
8.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,380,000
Cap Rate 7%
$985,714
Cap Rate 9%
$766,667
Alternative Uses
Best Use
Office B
$1.51M
$1.33M – $1.77M
NOI $106,020 @ 7.0% cap · market cap 12.47%
Second Best
Mixed Use
$985.7K
$862.5K – $1.15M
NOI $69,000 @ 7.0% cap · market cap 8.12%
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,056 @ 7.0% cap · market cap 16.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,013
Businesses Nearby
Explore this area
Business Placement
Demographics for 33306, FL
3,526
Population
2,109
Households
1.7
Avg Household Size
53
Median Age
44%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
3,918
Density / Sq Mi
$82,375
Median Household Income
$77,118
Median Earnings
$1,369
Median Rent
$469,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - B1 zoning supports a residence with an attached professional office.
Where is this mixed-use property located?
The property is located at 3197 NE 18TH Ter Oakland Park, FL.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Approximately 4,000 square feet; buyer to verify; 1963 mid‑century modern construction; Designed by architect Dan Duckham as a personal home and architectural studio
