Two-Story Office Buildings with Shared
For Sale
$10,699,000
1455 N Park Dr, Weston, FL 33326
SINGLE_FAMILY - Weston, FL
Property Size31,904 SF
Lot Size2.24 Acres
Price / SF$335.35
Days on Market63
Property Features for 1455 N Park Dr
General Information
Property type
Residential
Property subtype
Office
Parking features
Guest, Assigned
Subdivision
3890
Standard status
Active
APN
504017020057
Lot size
2.24 Acres
Taxes and HOA fees
Tax Year
2021
Tax Description
PARK OF COMMERCE 110-15 B A PORTION OF LOTS 2 & 3 BLK 2 DESC'D AS: COMM SW CORNER SAID LOT 2 NE 83, NW 239.67, TO POB, NW 9.33,NW 138.26, SE
Tax Annual Amount
54929
Legal Description
PARK OF COMMERCE 110-15 B A PORTION OF LOTS 2 & 3 BLK 2 DESC'D AS: COMM SW CORNER SAID LOT 2 NE 83, NW 239.67, TO POB, NW 9.33,NW 138.26, SE
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Amenities
private offices
bullpens
semi private offices
conference rooms
bathrooms
kitchen facilities
Building Details
Year built
1993
Floors in Building
2
Building materials
Block
Listing Agency:
BHHS EWM Realty
(305) 674-4000
Listed By:
Kenneth Raymond · License #0613345
(786) 443-9649
Added: Jun 6
Changed: Aug 3
Last Checked: Aug 7 at 5:06PM
MLS# A11156410
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering includes two separate two-story office buildings with shared parking. The buildings include private offices, bullpens, semi-private offices, conference rooms, bathrooms, and kitchen facilities. Each building is set up to support day-to-day office use with a mix of private and collaborative work areas. Floor plans can be provided upon request, and buyer to confirm all square footage at the buyer’s expense.
The property is located in Weston, Florida and sits on a lake. It is described as being close to shopping, restaurants, and highways, with access noted near Weston Rd.
The current tenant has leased the property for many years and the lease is structured as NNN. The current lease expires March 24, 2024. The configuration across both buildings, combined with the shared parking, may appeal to office users or investors looking for a multi-building setup with established office improvements already in place.
The property is located in Weston, Florida and sits on a lake. It is described as being close to shopping, restaurants, and highways, with access noted near Weston Rd.
The current tenant has leased the property for many years and the lease is structured as NNN. The current lease expires March 24, 2024. The configuration across both buildings, combined with the shared parking, may appeal to office users or investors looking for a multi-building setup with established office improvements already in place.
Key Highlights
- Two separate 2‑story office buildings on one lot: North Building approx 10,817 SF and South Building approx 21,087 SF (buyer to confirm).
- Lot size approx 97,531 SF with shared parking for both buildings.
- Office layout includes private offices, bullpens, semi‑private offices, conference rooms, bathrooms, and kitchen facilities in both buildings.
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
$845,616
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
7.90%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Two separate two-story office buildings offering private offices, conference rooms, and shared parking under an NNN lease.
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: Two separate 2‑story office buildings on one lot: North Building approx 10,817 SF and South Building approx 21,087 SF (buyer to confirm).; Lot size approx 97,531 SF with shared parking for both buildings.; Office layout includes private offices, bullpens, semi‑private offices, conference rooms, bathrooms, and kitchen facilities in both buildings.
