Mid-Century Waterfront Mixed-Use
New
For Sale
$849,900
3197 NE 18TH Terrace, Oakland Park, FL 33306
Commercial Sale, Oakland Park, FL
Property Size4,000 SF
Lot Size0.17 Acres
Price / SF$231.39
Days on Market5
Property Features for 3197 NE 18TH Terrace
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-1
Parking
5
Parking features
Covered, Guest
Security features
Security System
Lot features
Room for Pool
Subdivision
3360
Standard status
Active
APN
494224050021
Size
3,673 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CORAL WOODS 33-25 B PARCEL B N 55
Tax Annual Amount
17150
Legal Description
CORAL WOODS 33-25 B PARCEL B N 55
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
waterfront
gated
Building Details
Year built
1963
Floors in Building
2
Number of units
1
Flooring type
Concrete, Carpet
Building materials
CBS, Frame
Roof type
Built-Up
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Derek Cardinal · License #3564071
(954) 573-5513
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 20 at 11:06AM
MLS# B26078073
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mid-century mixed-use property was completed in 1963 and designed by architect Dan Duckham as his residence and architectural studio. The structure reflects a modernist design approach, with a rear section cantilevered over Cherry Creek on concrete pilings. The property includes a gated compound, covered parking, guest parking, central air conditioning, public water, and public sewer.
B-1 zoning permits a residential home with an attached professional office, offering a combined live-work configuration. The building uses CBS and frame construction, with concrete and carpet flooring, a built-up roof, and central electric heating. Located in Oakland Park in Broward County, the property occupies approximately 0.17 acres.
B-1 zoning permits a residential home with an attached professional office, offering a combined live-work configuration. The building uses CBS and frame construction, with concrete and carpet flooring, a built-up roof, and central electric heating. Located in Oakland Park in Broward County, the property occupies approximately 0.17 acres.
Key Highlights
- Designed by architect Dan Duckham as his residence and architectural studio
- 1963 mid‑century modern construction with a cantilevered rear section
- Cantilevered structure extends over Cherry Creek on concrete pilings
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
$63,359
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
7.45%
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%
$1,267,180
$1.3M
Cap Rate 7%
$905,129
$905.1K
Cap Rate 9%
$703,989
$704.0K
Market Conditions
NOI Build-Up for 3,673 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
$110.2K $30.00/SF
− Vacancy
−$8.8K −$2.40/SF
EGI
$101.4K $27.60/SF
− OpEx
−$38.0K −$10.35/SF
NOI
$63.4K $17.25/SF
Area
Broward County, FL
Vacancy
8.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,267,180
Cap Rate 7%
$905,129
Cap Rate 9%
$703,989
Alternative Uses
Best Use
Office B
$1.39M
$1.22M – $1.62M
NOI $97,353 @ 7.0% cap · market cap 11.45%
Second Best
Mixed Use
$905.1K
$792.0K – $1.06M
NOI $63,359 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,443 @ 7.0% cap · market cap 15.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,013
Businesses Nearby
Explore this area
Business Placement
Demographics for 33306, FL
3,526
Population
2,109
Households
1.7
Avg Household Size
53
Median Age
44%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
3,918
Density / Sq Mi
$82,375
Median Household Income
$77,118
Median Earnings
$1,369
Median Rent
$469,800
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - B-1 zoning supports a residence with an attached professional office in a distinctive waterfront setting.
Where is this mixed-use property located?
The property is located at 3197 NE 18TH Terrace Oakland Park, FL.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Designed by architect Dan Duckham as his residence and architectural studio; 1963 mid‑century modern construction with a cantilevered rear section; Cantilevered structure extends over Cherry Creek on concrete pilings
