Freestanding Office Building with
For Sale
$1,750,000
1565 N Park Drive, Weston, FL 33326
Commercial Sale, Weston, FL
Property Size5,486 SF
Lot Size0.47 Acres
Price / SF$318.99
Days on Market492
Property Features for 1565 N Park Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
O-1
Directions
I75 to Royal Palm Blvd. Royal Palm Blvd to Weston Road. North on Weston Road to N Commerce Parkway. Right on N Commerce Parkway to N Park Drive. Left on N Park Drive. Campus on the left.
Subdivision
3890
Standard status
Active
APN
504017020035
Size
5,486 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Description
PARK OF COMMERCE 110-15 B POR OF LOTS 1 AND 2 DESC AS:COMM SE COR SAID LOT 2;NW 499.85 TO POB NE 23.01,SE 143.89,SW 143.74 NW 143.89,NE 120.
Legal Description
PARK OF COMMERCE 110-15 B POR OF LOTS 1 AND 2 DESC AS:COMM SE COR SAID LOT 2;NW 499.85 TO POB NE 23.01,SE 143.89,SW 143.74 NW 143.89,NE 120.
Amenities
courtyard area with fountains
ample parking
lush landscaping
Building Details
Year built
2000
Floors in Building
1
Number of units
5
Listing Agency:
Box Real Estate LLC
(954) 526-3900
Listed By:
Jason Chamely · License #3180591
(954) 857-1884
Added: Apr 25, 2025
Changed: Aug 19
Last Checked: Aug 29 at 7:06PM
MLS# F10500162
Copyright © 2026 BeachesMLS. 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 freestanding office building is located within the Intercontinental Professional Center and totals 5,486 square feet. The building at 1565 is divided into five individual suites that share a common entry and bathrooms. Suite sizes range from 700 to 1,225 square feet, and the building is currently 100% occupied with a mix of office and light medical tenants. The property is zoned O-1.
The professional center includes a courtyard area with fountains, lush landscaping, and ample parking. The building is listed as approximately 1.3 miles from I-75 and about 1.5 miles from the Cleveland Clinic campus, with restaurants and shops nearby.
As one of six buildings in the campus, this location offers a multi-suite setup designed for straightforward occupancy within a shared campus setting.
The professional center includes a courtyard area with fountains, lush landscaping, and ample parking. The building is listed as approximately 1.3 miles from I-75 and about 1.5 miles from the Cleveland Clinic campus, with restaurants and shops nearby.
As one of six buildings in the campus, this location offers a multi-suite setup designed for straightforward occupancy within a shared campus setting.
Key Highlights
- 100% Occupancy: Provides immediate rental income
- Investment Opportunity: One of only 6 buildings in the Intercontinental Professional Center campus
- Desirable Suite Sizes: Suites ranging from 700 to 1,225 sqft are easy to lease
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
$145,406
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
8.31%
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%
$2,908,120
$2.9M
Cap Rate 7%
$2,077,229
$2.1M
Cap Rate 9%
$1,615,622
$1.6M
Market Conditions
NOI Build-Up for 5,486 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
$250.2K $45.60/SF
− Vacancy
−$56.3K −$10.26/SF
EGI
$193.9K $35.34/SF
− OpEx
−$48.5K −$8.84/SF
NOI
$145.4K $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%
$2,908,120
Cap Rate 7%
$2,077,229
Cap Rate 9%
$1,615,622
Alternative Uses
Best Use
Office B
$2.08M
$1.82M – $2.42M
NOI $145,406 @ 7.0% cap · market cap 8.31%
Second Best
Healthcare Medical
$1.03M
$903.6K – $1.20M
NOI $72,284 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$2.78M
$2.44M – $3.25M
NOI $194,830 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
100%
Occupancy
Multi-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
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Frequently Asked Questions
What type of property is this?
Office units - Freestanding office building divided into five individual suites with a shared entry and bathrooms, currently fully occupied.
Where is this office units located?
The property is located at 1565 N Park Drive Weston, FL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 100% Occupancy: Provides immediate rental income; Investment Opportunity: One of only 6 buildings in the Intercontinental Professional Center campus; Desirable Suite Sizes: Suites ranging from 700 to 1,225 sqft are easy to lease
