Third-Floor Office
For Sale
$1,800,000
Pending
200 S Andrews Avenue #302303, Fort Lauderdale, FL 33301
Third-floor office suite within Museum Plaza, featuring polished concrete floors and glass-partitioned interiors.
Property Size5,963 SF
Days on Market62
Property Features for 200 S Andrews Avenue #302303
General Information
Standard status
Pending
Size
5,963 SF
Property subtype
Commercial
Amenities
granite-and-marble lobby
modernized elevators
adjacent parking garage with EV charging stations
neighboring rooftop helipad
Building Details
Year Built
1986
Stories
11
Listing Agency:
ONE SOTHEBY'S INTERNATIONAL REALTY
(305) 779-2430
Listed By:
BARBARA K ELMIR · License #A12031212
Source:
Corcoran
Added: Jun 9
Changed: Jul 23
Last Checked: Jul 23 at 8:38AM
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 ONE SOTHEBY'S INTERNATIONAL REALTY
Investment Insights
Based on property information with market context.
This third-floor office suite is located in the 11-story Museum Plaza building, offered for lease or sale. The interior is described as bright and sunlit, with polished concrete floors and glass partitions creating a modern work environment. The flexible floor plan is designed to accommodate a mix of private offices, collaborative areas, and conference rooms, supporting a range of professional uses.
Museum Plaza is positioned at 200 S Andrews Ave in Downtown Fort Lauderdale’s financial district. The property is noted as one block from Las Olas Blvd and is presented as moments from government offices, courts, FAU, and Broward College.
The building includes an impressive granite-and-marble lobby and modernized elevators. Parking is supported by an adjacent parking garage with EV charging stations, and a neighboring rooftop helipad is also mentioned in the offering materials.
Museum Plaza is positioned at 200 S Andrews Ave in Downtown Fort Lauderdale’s financial district. The property is noted as one block from Las Olas Blvd and is presented as moments from government offices, courts, FAU, and Broward College.
The building includes an impressive granite-and-marble lobby and modernized elevators. Parking is supported by an adjacent parking garage with EV charging stations, and a neighboring rooftop helipad is also mentioned in the offering materials.
Key Highlights
- 5,963 SF third‑floor office space in Museum Plaza
- Built in 1986; 11‑story building
- Polished concrete floors and glass‑partitioned interior
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
$80,286
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
4.46%
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%
$1,605,720
$1.6M
Cap Rate 7%
$1,146,943
$1.1M
Cap Rate 9%
$892,067
$892.1K
Market Conditions
NOI Build-Up for 5,963 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
$143.1K $24.00/SF
− Vacancy
−$9.3K −$1.56/SF
EGI
$133.8K $22.44/SF
− OpEx
−$53.5K −$8.98/SF
NOI
$80.3K $13.46/SF
Area
Fort Lauderdale, FL
Vacancy
6.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,605,720
Cap Rate 7%
$1,146,943
Cap Rate 9%
$892,067
Alternative Uses
Best Use
Office B
$2.45M
$2.14M – $2.86M
NOI $171,305 @ 7.0% cap · market cap 9.52%
Second Best
Healthcare Medical
$1.15M
$1.00M – $1.34M
NOI $80,286 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$4.01M
$3.51M – $4.68M
NOI $280,500 @ 7.0% cap · market cap 15.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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 - Third-floor office suite within Museum Plaza, featuring polished concrete floors and glass-partitioned interiors.
Where is this office units located?
The property is located at 200 S Andrews Avenue #302303 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 5,963 SF third‑floor office space in Museum Plaza; Built in 1986; 11‑story building; Polished concrete floors and glass‑partitioned interior
