Office Unit with Intracoastal
New
For Sale
$429,000
3020 NE 32nd Avenue #Ste 319, Fort Lauderdale, FL 33308
Third-floor professional suite offers a flexible wellness-oriented layout with a private restroom and shower.
Property Size1,405 SF
Price / SF$305.34
Days on Market4
Property Features for 3020 NE 32nd Avenue #Ste 319
General Information
Standard status
Active
Size
1,405 SF
Total Parking Spaces
5
Property subtype
Commercial
Additional Details
Floor
3
Taxes and HOA fees
Annual Taxes
$8,842
Amenities
Covered
Heat Pump Heating
Other Roof
Building Details
Year Built
2002
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICES FL REALTY
Listed By:
DANIEL FRANK HELLMAN · License #B26070425
(954) 803-0545
Source:
Corcoran
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 2 at 8:42PM
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 BERKSHIRE HATHAWAY HOMESERVICES FL REALTY
Investment Insights
Based on property information with market context.
Suite 319 is an approximately 1,500-square-foot office unit on the 3rd floor, configured for professional, medical, or wellness use. The interior includes a private treatment or consultation room, open fitness or work area, reception and workspace areas, and a private restroom with shower. The layout also allows for additional rooms to be created. Five parking spaces are included, and the suite is formed from three combined parcels.
Located at 3020 NE 32nd Avenue in Fort Lauderdale, the office has views of the Intracoastal Waterway and receives abundant natural light. The building was completed in 2002. Walk Score and Bike Score are both 62, while Transit Score is 38.
Located at 3020 NE 32nd Avenue in Fort Lauderdale, the office has views of the Intracoastal Waterway and receives abundant natural light. The building was completed in 2002. Walk Score and Bike Score are both 62, while Transit Score is 38.
Key Highlights
- Approximately 1,500 square feet on the 3rd floor
- Intracoastal Waterway views with abundant natural light
- Configured for professional, medical, or wellness use
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
$18,917
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
4.41%
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%
$378,340
$378.3K
Cap Rate 7%
$270,243
$270.2K
Cap Rate 9%
$210,189
$210.2K
Market Conditions
NOI Build-Up for 1,405 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
$33.7K $24.00/SF
− Vacancy
−$2.2K −$1.56/SF
EGI
$31.5K $22.44/SF
− OpEx
−$12.6K −$8.98/SF
NOI
$18.9K $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%
$378,340
Cap Rate 7%
$270,243
Cap Rate 9%
$210,189
Alternative Uses
Best Use
Office B
$576.6K
$504.5K – $672.7K
NOI $40,363 @ 7.0% cap · market cap 9.41%
Second Best
Healthcare Medical
$270.2K
$236.5K – $315.3K
NOI $18,917 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$944.2K
$826.1K – $1.10M
NOI $66,091 @ 7.0% cap · market cap 15.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,381
Businesses Nearby
Explore this area
Business Placement
Demographics for 33308, FL
29,519
Population
23,230
Households
1.3
Avg Household Size
57
Median Age
56%
College-Educated
96%
High-School Grad
4.6 sq mi
ZIP Area
6,417
Density / Sq Mi
$83,413
Median Household Income
$58,600
Median Earnings
$1,850
Median Rent
$536,900
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 professional suite offers a flexible wellness-oriented layout with a private restroom and shower.
Where is this office units located?
The property is located at 3020 NE 32nd Avenue #Ste 319 Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Approximately 1,500 square feet on the 3rd floor; Intracoastal Waterway views with abundant natural light; Configured for professional, medical, or wellness use
