Weston Commercial Property on
For Sale
$10,699,000
1455 N Park Dr, Weston, FL 33326
Two-building office property in Weston, Florida, near amenities.
Property Size31,904 SF
Lot Size2.24 Acres
Price / SF$335.35
Days on Market225
Property Features for 1455 N Park Dr
General Information
Standard status
Active
Size
31,904 SF
Lot size
2.24 Acres
Building Details
Year Built
1993
Listing Agency:
BHHS EWM Realty
Listed By:
Kenneth M Raymond · License #0613345
(786) 443-9649
Source:
Thepennteam
Added: Mar 10
Changed: Oct 3
Last Checked: Oct 7 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 BHHS EWM Realty
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Investment Insights
Based on property information with market context.
This commercial property in Weston, Florida, presents a rare opportunity for purchase. The location is considered prime, situated on a lake and in proximity to shopping, restaurants, highways, and Weston Road. The property includes two separate two-story office buildings. The North Building is approximately 10,817 square feet, and the South Building is approximately 21,087 square feet. The lot size is approximately 97,531 square feet. Both buildings feature private offices, bullpens, semi-private offices, conference rooms, bathrooms, and kitchen facilities. The buildings share parking. The current tenant's lease expires in March 2024 and is NNN.
Key Highlights
- Prime location in Weston, Florida, on a lake and close to shopping, restaurants, highways, and Weston Rd.
- Two separate office buildings: North Building (approx. 10,817 sqft) and South Building (approx. 21,087 sqft).
- Large lot size: approximately 97,531 sqft.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$845,616
Cap Rate
7.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,912,320
$16.9M
Cap Rate 7%
$12,080,229
$12.1M
Cap Rate 9%
$9,395,733
$9.4M
Market Conditions
NOI Build-Up for 31,904 SF
Gross rent
$1.45M $45.60/SF
− Vacancy
−$327.3K −$10.26/SF
EGI
$1.13M $35.34/SF
− OpEx
−$281.9K −$8.84/SF
NOI
$845.6K $26.51/SF
Area
Broward County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$16,912,320
Cap Rate 7%
$12,080,229
Cap Rate 9%
$9,395,733
Alternative Uses
Best Use
Office B
$12.08M
$10.57M – $14.09M
NOI $845,616 @ 7.0% cap · market cap 7.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$16.19M
$14.16M – $18.88M
NOI $1,133,037 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,665
Businesses Nearby
Explore this area
Business Placement
Demographics for 33326, FL
33,978
Population
12,679
Households
2.7
Avg Household Size
41
Median Age
58%
College-Educated
97%
High-School Grad
7.2 sq mi
ZIP Area
4,719
Density / Sq Mi
$113,935
Median Household Income
$53,634
Median Earnings
$2,381
Median Rent
$529,500
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 South region
Frequently Asked Questions
What type of property is this?
Office building - Two-building office property in Weston, Florida, near amenities.
Where is this office building located?
The property is located at 1455 N Park Dr Weston, FL.
What is the asking price?
The asking price for this property is $10,699,000.
What are key features of this property?
This property features: Prime location in Weston, Florida, on a lake and close to shopping, restaurants, highways, and Weston Rd.; Two separate office buildings: North Building (approx. 10,817 sqft) and South Building (approx. 21,087 sqft).; Large lot size: approximately 97,531 sqft.
