Renovated Four-Story Office
For Sale
Contact for pricing
1650 SE 17th Street, Fort Lauderdale, FL 33316
The property combines 16 active tenants, an attached parking garage, and four vacant suites.
Property Size61,364 SF
Price / SF$317.78
Days on Market14
Property Features for 1650 SE 17th Street
General Information
Standard status
Active
Size
61,364 SF
Class
B
Total Parking Spaces
245
Property subtype
Office
Occupancy
84%
Lease Type
Net
Investment Type
Value Add
Net Operating Income
$1,309,349
Additional Details
Highway Access
Yes
Building Details
Year Built
1990
Year Renovated
2020
Buildings
1
Stories
4
Tenancy
Multi
Building Size
61,364 SF
Listing Agency:
CBRE - Fort Lauderdale
Listed By:
Benjamin Silver · License #FL: SL3197924
Source:
Crexi
Added: Jul 28
Changed: Aug 4
Last Checked: Aug 9 at 9:12AM
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 CBRE - Fort Lauderdale
Investment Insights
Based on property information with market context.
This renovated office property contains approximately 61,364 square feet across four stories, with an attached parking garage. The building currently supports 16 active tenants spanning professional services, health care, and business services, while four vacant suites add 9,381 square feet of available space. Lease arrangements are predominantly gross, with select NNN agreements and annual escalations reflected in the existing contracts.
The property is located at 1650 S.E. 17th Street in Fort Lauderdale’s 17th Street Causeway marine district. It sits near the 800-room Omni Fort Lauderdale Hotel, the Broward County Convention Center, Port Everglades, restaurants, hotels, and waterfront amenities. Fort Lauderdale-Hollywood International Airport is 14 minutes away, and I-95 is minutes from the building. The property was built in 1990.
The property is located at 1650 S.E. 17th Street in Fort Lauderdale’s 17th Street Causeway marine district. It sits near the 800-room Omni Fort Lauderdale Hotel, the Broward County Convention Center, Port Everglades, restaurants, hotels, and waterfront amenities. Fort Lauderdale-Hollywood International Airport is 14 minutes away, and I-95 is minutes from the building. The property was built in 1990.
Key Highlights
- Approximately 61,364‑square‑foot office building spanning four stories
- Attached parking garage
- 16 active tenants across professional services, health care, and business services
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
$1,762,865
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
9.04%
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%
$35,257,300
$35.3M
Cap Rate 7%
$25,183,786
$25.2M
Cap Rate 9%
$19,587,389
$19.6M
Market Conditions
NOI Build-Up for 61,364 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
$2.80M $45.60/SF
− Vacancy
−$447.7K −$7.30/SF
EGI
$2.35M $38.30/SF
− OpEx
−$587.6K −$9.58/SF
NOI
$1.76M $28.73/SF
Area
Fort Lauderdale, FL
Vacancy
16.00%
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%
$35,257,300
Cap Rate 7%
$25,183,786
Cap Rate 9%
$19,587,389
Alternative Uses
Best Use
Office B
$25.18M
$22.04M – $29.38M
NOI $1,762,865 @ 7.0% cap · market cap 9.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$41.24M
$36.08M – $48.11M
NOI $2,886,563 @ 7.0% cap · market cap 14.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,105
Businesses Nearby
Explore this area
Business Placement
Demographics for 33316, FL
12,669
Population
8,946
Households
1.4
Avg Household Size
50
Median Age
54%
College-Educated
95%
High-School Grad
4.1 sq mi
ZIP Area
3,090
Density / Sq Mi
$89,200
Median Household Income
$52,992
Median Earnings
$2,047
Median Rent
$793,500
Median Home Value
Market
Vacancy Rate% for Office in Fort Lauderdale, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - The property combines 16 active tenants, an attached parking garage, and four vacant suites.
Where is this office building located?
The property is located at 1650 SE 17th Street Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $19,500,000.
What are key features of this property?
This property features: Approximately 61,364‑square‑foot office building spanning four stories; Attached parking garage; 16 active tenants across professional services, health care, and business services
