Sunlit Downtown Office
For Sale
$1,800,000
302303-200 S Andrews Ave, Fort Lauderdale, FL 33309
Third-floor office space features polished concrete, glass partitions, and a flexible configuration for private and shared work areas.
Property Size5,963 SF
Price / SF$301.86
Days on Market63
Property Features for 302303-200 S Andrews Ave
General Information
Standard status
Active
Size
5,963 SF
Elevators
Yes
Additional Details
Floor
3
Taxes and HOA fees
Annual Taxes
$19,952
Amenities
granite-and-marble lobby
adjacent parking garage with EV charging stations
neighboring rooftop helipad
Building Details
Buildings
1
Stories
11
Listing Agency:
One Sotheby's International Realty
(786) 301-2220
Listed By:
Barbara K Elmir · License #A12027577
(786) 301-2220
Source:
Exprealty
Added: Jun 9
Changed: Aug 10
Last Checked: Aug 10 at 5:10AM
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 5,963-square-foot office unit occupies the third floor of Museum Plaza, an 11-story building at 200 S Andrews Ave. The interior combines polished concrete floors, glass partitions, and a flexible arrangement that can accommodate private offices, collaborative work areas, and conference rooms. Natural light, a granite-and-marble lobby, and modernized elevators add to the building’s presentation.
The property is located in Downtown Fort Lauderdale’s financial district, one block from Las Olas Blvd and near government offices, courts, FAU, and Broward College. An adjacent parking garage provides EV charging stations, while a neighboring rooftop helipad adds a distinctive feature to the surrounding property setting.
The property is located in Downtown Fort Lauderdale’s financial district, one block from Las Olas Blvd and near government offices, courts, FAU, and Broward College. An adjacent parking garage provides EV charging stations, while a neighboring rooftop helipad adds a distinctive feature to the surrounding property setting.
Key Highlights
- 5,963 SF third‑floor office unit in Museum Plaza
- Flexible layout with private offices, collaborative areas, and conference rooms
- Polished concrete floors and glass partitions
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
2,423
Businesses Nearby
Explore this area
Business Placement
Demographics for 33309, FL
37,642
Population
14,783
Households
2.5
Avg Household Size
39
Median Age
23%
College-Educated
85%
High-School Grad
9.7 sq mi
ZIP Area
3,881
Density / Sq Mi
$73,496
Median Household Income
$35,850
Median Earnings
$1,829
Median Rent
$309,100
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 space features polished concrete, glass partitions, and a flexible configuration for private and shared work areas.
Where is this office units located?
The property is located at 302303-200 S Andrews Ave 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 unit in Museum Plaza; Flexible layout with private offices, collaborative areas, and conference rooms; Polished concrete floors and glass partitions
