Combined Office Condo
For Sale
$399,000
2450 HOLLYWOOD Boulevard #CU306 & 307, Hollywood, FL
Two combined office condos total about 860 SF with reception, private office or conference room, kitchen area, and storage.
Property Size860 SF
Price / SF$463.95
Days on Market48
Property Features for 2450 HOLLYWOOD Boulevard #CU306 & 307
General Information
Standard status
Active
Size
860 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,783
Amenities
Central air
Central Air Cooling
Central Heating
Other Roof
Building Details
Year Built
1975
Listing Agency:
KELLER WILLIAMS REALTY PROFESS
(954) 593-7467
Listed By:
MICHAEL J BARAN · License #B26052698
Source:
Corcoran
Added: Jul 15
Changed: Aug 28
Last Checked: Aug 30 at 4:52PM
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 KELLER WILLIAMS REALTY PROFESS
Investment Insights
Based on property information with market context.
This offering includes two combined office condominium units in the Center Court Commercial building, totaling approximately 860 square feet. The layout features a spacious reception and main office area, along with a private executive office or conference room, a kitchen/break room, and storage. The suite also benefits from two deeded parking spaces and two newer A/C units.
The property is located in a well-maintained building with a professional lobby, elevator access, and ample guest parking. Access is described as convenient to I-95 and US-1, with routes to Downtown Hollywood, Fort Lauderdale, and Miami.
The configuration is designed to support a flexible professional office environment, suitable for an owner-user or an investor seeking a centrally located office condo within the Center Court Commercial building.
The property is located in a well-maintained building with a professional lobby, elevator access, and ample guest parking. Access is described as convenient to I-95 and US-1, with routes to Downtown Hollywood, Fort Lauderdale, and Miami.
The configuration is designed to support a flexible professional office environment, suitable for an owner-user or an investor seeking a centrally located office condo within the Center Court Commercial building.
Key Highlights
- Two combined office condos totaling approx. 860 SF in the Center Court Commercial building (built 1975).
- Suite layout includes reception/main office, a private executive office or conference room, kitchen/break room, and storage.
- Includes two deeded 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
$16,602
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
4.16%
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%
$332,040
$332.0K
Cap Rate 7%
$237,171
$237.2K
Cap Rate 9%
$184,467
$184.5K
Market Conditions
NOI Build-Up for 860 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
$28.4K $33.00/SF
− Vacancy
−$6.2K −$7.26/SF
EGI
$22.1K $25.74/SF
− OpEx
−$5.5K −$6.44/SF
NOI
$16.6K $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%
$332,040
Cap Rate 7%
$237,171
Cap Rate 9%
$184,467
Alternative Uses
Best Use
Office B
$237.2K
$207.5K – $276.7K
NOI $16,602 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$336.4K
$294.4K – $392.5K
NOI $23,550 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two combined office condos total about 860 SF with reception, private office or conference room, kitchen area, and storage.
Where is this office units located?
The property is located at 2450 HOLLYWOOD Boulevard #CU306 & 307 Hollywood, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two combined office condos totaling approx. 860 SF in the Center Court Commercial building (built 1975).; Suite layout includes reception/main office, a private executive office or conference room, kitchen/break room, and storage.; Includes two deeded parking spaces.
