Two-Suite Office
For Sale
$250,000
1720 Harrison Street 18c, Hollywood, FL 33020
Downtown Hollywood office condominium with two separately configured suites, both currently leased.
Property Size1,155 SF
Price / SF$216.45
Days on Market49
Property Features for 1720 Harrison Street 18c
General Information
Standard status
Active
Size
1,155 SF
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Year Built
1963
Tenancy
Multi
Listing Agency:
The Keyes Company
Listed By:
Mauricio Y. Levi · License #3409602
(561) 405-4960
Source:
Chenoregroup
Added: Aug 17
Changed: Sep 13
Last Checked: Oct 2 at 11:34PM
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.
This office condominium at 1720 Harrison Street, Unit 18C, is arranged as two office suites that are both currently leased. The property was built in 1963 and offers an established professional office configuration within a condominium setting.
The unit is near Young Circle in Downtown Hollywood, with access to I-95, US-1, Florida's Turnpike, and Fort Lauderdale-Hollywood International Airport. ArtsPark at Young Circle serves as a nearby downtown anchor, surrounded by residences, offices, restaurants, retail, hotels, parks, and entertainment venues. A public parking garage has been proposed for the adjacent vacant lot, with the project currently in its initial phase.
The unit is near Young Circle in Downtown Hollywood, with access to I-95, US-1, Florida's Turnpike, and Fort Lauderdale-Hollywood International Airport. ArtsPark at Young Circle serves as a nearby downtown anchor, surrounded by residences, offices, restaurants, retail, hotels, parks, and entertainment venues. A public parking garage has been proposed for the adjacent vacant lot, with the project currently in its initial phase.
Key Highlights
- Two office suites within a single office condominium unit
- Both suites are currently leased
- 1720 Harrison Street, Unit 18C, Hollywood, FL
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
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Current Use
Lease Details
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
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
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Frequently Asked Questions
What type of property is this?
Office units - Downtown Hollywood office condominium with two separately configured suites, both currently leased.
Where is this office units located?
The property is located at 1720 Harrison Street 18c 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 within a single office condominium unit; Both suites are currently leased; 1720 Harrison Street, Unit 18C, Hollywood, FL
