Freestanding Office
For Sale
$900,000
220 SW 16th St, Dania Beach, FL 33004
Office configuration includes private rooms, meeting space, and on-site parking.
Property Size2,054 SF
Price / SF$438.17
Days on Market26
Property Features for 220 SW 16th St
General Information
Standard status
Active
Size
2,054 SF
Total Parking Spaces
10
Zoning
RO
Additional Details
Road Access
Yes
Amenities
reception
conference room
kitchenette
8 private offices
3 bathrooms
Building Details
Year Built
1923
Buildings
1
Building Size
2,054 SF
Tenancy
Multi
Listing Agency:
The Keyes Company
(561) 866-9616
Listed By:
Federico Rochwerger PA · License #B26017273
Source:
Chenoregroup
Added: Aug 5
Changed: Aug 29
Last Checked: Aug 25 at 4:17AM
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 2,054-square-foot commercial building was constructed in 1923 and is currently arranged for office use. The interior includes a reception area, conference room, kitchenette, 8 private offices, and 3 bathrooms, with 10 marked parking spaces serving the property. Two tenants are currently in place, and their leases may be terminated with notice.
The property is zoned RO and has a reported 2025 FDOT AADT of 32,500 trips per day. The existing office configuration requires a change of use from single family to office in order to continue as office space. The layout and existing improvements provide a defined starting point for an owner-user or investor evaluating the property’s current commercial arrangement.
The property is zoned RO and has a reported 2025 FDOT AADT of 32,500 trips per day. The existing office configuration requires a change of use from single family to office in order to continue as office space. The layout and existing improvements provide a defined starting point for an owner-user or investor evaluating the property’s current commercial arrangement.
Key Highlights
- 2,054‑square‑foot building constructed in 1923
- Office layout with reception, conference room, kitchenette, 8 private offices, and 3 bathrooms
- 10 marked parking spaces
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
$54,441
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
6.05%
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%
$1,088,820
$1.1M
Cap Rate 7%
$777,729
$777.7K
Cap Rate 9%
$604,900
$604.9K
Market Conditions
NOI Build-Up for 2,054 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
$93.7K $45.60/SF
− Vacancy
−$21.1K −$10.26/SF
EGI
$72.6K $35.34/SF
− OpEx
−$18.1K −$8.84/SF
NOI
$54.4K $26.51/SF
Area
Broward County, FL
Vacancy
22.50%
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%
$1,088,820
Cap Rate 7%
$777,729
Cap Rate 9%
$604,900
Alternative Uses
Best Use
Office B
$777.7K
$680.5K – $907.4K
NOI $54,441 @ 7.0% cap · market cap 6.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$911.8K – $1.22M
NOI $72,946 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,282
Businesses Nearby
Explore this area
Business Placement
Demographics for 33004, FL
16,162
Population
9,427
Households
1.7
Avg Household Size
45
Median Age
34%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
2,377
Density / Sq Mi
$50,783
Median Household Income
$41,540
Median Earnings
$1,616
Median Rent
$336,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office configuration includes private rooms, meeting space, and on-site parking.
Where is this office building located?
The property is located at 220 SW 16th St Dania Beach, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 2,054‑square‑foot building constructed in 1923; Office layout with reception, conference room, kitchenette, 8 private offices, and 3 bathrooms; 10 marked parking spaces
