Two-Suite Office
For Sale
$250,000
1720 HARRISON Street, Hollywood, FL 33020
Professional office condominium configured as two currently leased suites.
Property Size1,155 SF
Price / SF$216.45
Days on Market11
Property Features for 1720 HARRISON Street
General Information
Standard status
Active
Size
1,155 SF
Property subtype
General Commercial
Occupancy
100%
Additional Details
Floor
18
Highway Access
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$4,994
Amenities
3
Building Details
Year Built
1963
Buildings
1
Tenancy
Multi
Listing Agency:
(561) 558-5058
Listed By:
The Keyes Company
(561) 558-5058
Source:
Xome
Added: Aug 7
Changed: Aug 16
Last Checked: Aug 17 at 4:28AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
Office condominium Unit 18C at 1720 Harrison Street is arranged as two separate office suites, with both suites currently leased. The property was built in 1963 and is positioned near Young Circle in Downtown Hollywood, placing it within the city’s central business and cultural district.
Hollywood offers connectivity between Miami and Fort Lauderdale, with access to I-95, US-1, Florida’s Turnpike, and Fort Lauderdale-Hollywood International Airport. A public parking garage has been proposed for the vacant lot next to the building; the project remains in its initial phase.
Hollywood offers connectivity between Miami and Fort Lauderdale, with access to I-95, US-1, Florida’s Turnpike, and Fort Lauderdale-Hollywood International Airport. A public parking garage has been proposed for the vacant lot next to the building; the project remains in its initial phase.
Key Highlights
- Two office suites with both spaces currently leased
- 1720 Harrison Street, Unit 18C, near Young Circle in Downtown Hollywood
- Built in 1963
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
$22,297
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
8.92%
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%
$445,940
$445.9K
Cap Rate 7%
$318,529
$318.5K
Cap Rate 9%
$247,744
$247.7K
Market Conditions
NOI Build-Up for 1,155 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
$38.1K $33.00/SF
− Vacancy
−$8.4K −$7.26/SF
EGI
$29.7K $25.74/SF
− OpEx
−$7.4K −$6.44/SF
NOI
$22.3K $19.31/SF
Area
Hollywood, FL
Vacancy
22.00%
Lease Rate
$33.00 /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%
$445,940
Cap Rate 7%
$318,529
Cap Rate 9%
$247,744
Alternative Uses
Best Use
Office B
$318.5K
$278.7K – $371.6K
NOI $22,297 @ 7.0% cap · market cap 8.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$451.8K
$395.4K – $527.2K
NOI $31,629 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,242
Businesses Nearby
Explore this area
Business Placement
Demographics for 33020, FL
45,044
Population
22,508
Households
2
Avg Household Size
41
Median Age
29%
College-Educated
89%
High-School Grad
6.0 sq mi
ZIP Area
7,507
Density / Sq Mi
$52,535
Median Household Income
$32,449
Median Earnings
$1,444
Median Rent
$306,700
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 - Professional office condominium configured as two currently leased suites.
Where is this office units located?
The property is located at 1720 HARRISON Street Hollywood, FL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two office suites with both spaces currently leased; 1720 Harrison Street, Unit 18C, near Young Circle in Downtown Hollywood; Built in 1963
