Downtown Hollywood Office
For Sale
$1,650,000
1720 Harrison St 7A, Hollywood, FL 33020
Vacant, move-in ready office condo in Downtown Hollywood.
Property Size5,581 SF
Days on Market140
Property Features for 1720 Harrison St 7A
General Information
Standard status
Active
Size
5,581 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$18,175
Building Details
Building Size
5,581 SF
Year Built
1964
Listing Agency:
RE/MAX 5 Star Realty
Listed By:
John DeMarco · License #A11487709
(954) 453-1000
Source:
Elliman
Added: Apr 24
Changed: Aug 16
Last Checked: Sep 10 at 8:04AM
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 RE/MAX 5 Star Realty
Investment Insights
Based on property information with market context.
Located in the heart of Downtown Hollywood on Young Circle, Unit #7A at 1720 Harrison Street is a full-floor, vacant office condominium. The suite is fully built out and move-in ready. It features private elevator access. The layout supports a range of office uses, making it ideal for an owner-user seeking a centralized and efficient workspace. The property is positioned near dining, retail, and major transportation corridors. The location benefits from strong visibility and continued downtown growth. The area is very bikeable with a bike score of 75 and very walkable with a walk score of 86. The transit score is 43, indicating some transit options are available.
Key Highlights
- Move‑in ready, full‑floor office condominium.
- Private elevator access for enhanced privacy and professional presence.
- Prime Downtown Hollywood location on Young Circle.
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
$107,741
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
6.53%
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%
$2,154,820
$2.2M
Cap Rate 7%
$1,539,157
$1.5M
Cap Rate 9%
$1,197,122
$1.2M
Market Conditions
NOI Build-Up for 5,581 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
$184.2K $33.00/SF
− Vacancy
−$40.5K −$7.26/SF
EGI
$143.7K $25.74/SF
− OpEx
−$35.9K −$6.44/SF
NOI
$107.7K $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%
$2,154,820
Cap Rate 7%
$1,539,157
Cap Rate 9%
$1,197,122
Alternative Uses
Best Use
Office B
$1.54M
$1.35M – $1.80M
NOI $107,741 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.18M
$1.91M – $2.55M
NOI $152,830 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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 - Vacant, move-in ready office condo in Downtown Hollywood.
Where is this office units located?
The property is located at 1720 Harrison St 7A Hollywood, FL.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Move‑in ready, full‑floor office condominium.; Private elevator access for enhanced privacy and professional presence.; Prime Downtown Hollywood location on Young Circle.
