Renovated Office Unit with Skyline
For Sale
$990,000
200 S Andrews Avenue 503, Fort Lauderdale, FL 33301
Renovated suite offers executive offices, collaborative workspace, and secured garage parking.
Property Size182,000 SF
Price / SF$412.50
Days on Market72
Property Features for 200 S Andrews Avenue 503
General Information
Standard status
Active
Size
182,000 SF
Class
Class A
Total Parking Spaces
2
Property subtype
Office
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$16,727
Amenities
live security
secured entry access
electricity included through association
well-maintained common areas
Building Details
Building Size
182,000 SF
Year Built
1986
Buildings
1
Tenancy
Single
Listing Agency:
Coastal Group Brokers
(954) 400-9527
Listed By:
Harpreet Singh · License #3450327
(954) 400-9527
Source:
Tylertuchow
Added: May 28
Changed: Aug 2
Last Checked: Aug 7 at 12:53AM
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 Coastal Group Brokers
Investment Insights
Based on property information with market context.
This approximately 2,400-square-foot office unit in the Museum Plaza building was renovated for professional use. The plan includes six executive offices, a conference room, reception area, file and storage room, kitchenette, and a large bullpen-style workspace. Floor-to-ceiling windows bring natural light into the suite and overlook the downtown skyline.
Building features include live security, controlled entry, association-paid electricity, maintained common areas, and a private parking garage with two dedicated spaces. Additional public parking is available nearby. The property is in downtown Fort Lauderdale, with Las Olas Boulevard, Brightline, courthouses, restaurants, shopping, and major highways located minutes away. The unit can accommodate an owner-user or be leased for professional office use.
Building features include live security, controlled entry, association-paid electricity, maintained common areas, and a private parking garage with two dedicated spaces. Additional public parking is available nearby. The property is in downtown Fort Lauderdale, with Las Olas Boulevard, Brightline, courthouses, restaurants, shopping, and major highways located minutes away. The unit can accommodate an owner-user or be leased for professional office use.
Key Highlights
- Approximately 2,400 SF of renovated office space
- Six executive offices plus conference, reception, storage, kitchenette, and bullpen areas
- Floor‑to‑ceiling windows with downtown skyline views
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
$68,947
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
6.96%
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%
$1,378,940
$1.4M
Cap Rate 7%
$984,957
$985.0K
Cap Rate 9%
$766,078
$766.1K
Market Conditions
NOI Build-Up for 2,400 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
$109.4K $45.60/SF
− Vacancy
−$17.5K −$7.30/SF
EGI
$91.9K $38.30/SF
− OpEx
−$23.0K −$9.58/SF
NOI
$68.9K $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%
$1,378,940
Cap Rate 7%
$984,957
Cap Rate 9%
$766,078
Alternative Uses
Best Use
Office B
$985.0K
$861.8K – $1.15M
NOI $68,947 @ 7.0% cap · market cap 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,896 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
8,913
Businesses Nearby
Explore this area
Business Placement
Demographics for 33301, FL
19,109
Population
13,955
Households
1.4
Avg Household Size
42
Median Age
62%
College-Educated
96%
High-School Grad
2.5 sq mi
ZIP Area
7,644
Density / Sq Mi
$115,421
Median Household Income
$76,365
Median Earnings
$2,341
Median Rent
$751,600
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 units - Renovated suite offers executive offices, collaborative workspace, and secured garage parking.
Where is this office units located?
The property is located at 200 S Andrews Avenue 503 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Approximately 2,400 SF of renovated office space; Six executive offices plus conference, reception, storage, kitchenette, and bullpen areas; Floor‑to‑ceiling windows with downtown skyline views
