Office Condo with
For Sale
$210,000
1720 Harrison St 8B1, Hollywood, FL 33020
Office condo featuring gym, pool, laundry, and onsite management.
Property Size447 SF
Days on Market142
Property Features for 1720 Harrison St 8B1
General Information
Standard status
Active
Size
447 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,115
Building Details
Building Size
447 SF
Year Built
1963
Stories
19
Listing Agency:
REF Realty Inc
Listed By:
Robert Fuerst · License #A11876821
(954) 347-6831
Source:
Elliman
Added: Apr 24
Changed: Sep 3
Last Checked: Sep 11 at 7:50AM
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 REF Realty Inc
Investment Insights
Based on property information with market context.
This office condo features floor-to-ceiling windows and includes furniture such as a conference table and desks. The unit is equipped with a wet bar and space for a refrigerator, coffee maker, and microwave. The monthly maintenance fee is $450, which includes access to a gym, pool, laundry room, and onsite management and maintenance. The bike score is 69, indicating it is bikeable. The walk score is 67, suggesting it is somewhat walkable, and the transit score is 41, indicating some transit options are available.
Key Highlights
- Low monthly maintenance fee of $450
- Includes furniture such as conference table and desks
- Onsite management and maintenance provided
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
$8,629
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
4.11%
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%
$172,580
$172.6K
Cap Rate 7%
$123,271
$123.3K
Cap Rate 9%
$95,878
$95.9K
Market Conditions
NOI Build-Up for 447 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
$14.8K $33.00/SF
− Vacancy
−$3.2K −$7.26/SF
EGI
$11.5K $25.74/SF
− OpEx
−$2.9K −$6.44/SF
NOI
$8.6K $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%
$172,580
Cap Rate 7%
$123,271
Cap Rate 9%
$95,878
Alternative Uses
Best Use
Office B
$123.3K
$107.9K – $143.8K
NOI $8,629 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$174.9K
$153.0K – $204.0K
NOI $12,241 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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 - Office condo featuring gym, pool, laundry, and onsite management.
Where is this office units located?
The property is located at 1720 Harrison St 8B1 Hollywood, FL.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Low monthly maintenance fee of $450; Includes furniture such as conference table and desks; Onsite management and maintenance provided
