Office Building with IM-1
New
For Sale
Contact for pricing
3500 N 28TH Terrace, Hollywood, FL 33020
The 1994-built property provides an office-oriented commercial asset within IM-1 zoning.
Property Size10,341 SF
Price / SF$667.25
Days on Market7
Property Features for 3500 N 28TH Terrace
General Information
Standard status
Active
Size
10,341 SF
Total Parking Spaces
30
Property subtype
Industrial
Zoning
IM-1
Building Details
Year Built
1994
Stories
2
Listing Agency:
Sara David Realty Inc
Listed By:
Bennett David · License #Fl BK19797
(954) 925-7100
Source:
Crexi
Added: Aug 29
Changed: Sep 4
Last Checked: Sep 4 at 11:12AM
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 Sara David Realty Inc
Investment Insights
Based on property information with market context.
This office building contains 10,341 square feet and was constructed in 1994. The property is classified within the office buildings category and carries IM-1 zoning, providing a clearly identified commercial asset type and land-use designation.
The property is located at 3500 N 28TH Terrace in Hollywood, Florida 33020. Its office classification, building size, construction year, and zoning provide the primary physical and regulatory facts for evaluating the offering.
The property is located at 3500 N 28TH Terrace in Hollywood, Florida 33020. Its office classification, building size, construction year, and zoning provide the primary physical and regulatory facts for evaluating the offering.
Key Highlights
- 10,341 SF office building
- Constructed in 1994
- IM‑1 zoning
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
$199,633
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
2.89%
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%
$3,992,660
$4.0M
Cap Rate 7%
$2,851,900
$2.9M
Cap Rate 9%
$2,218,144
$2.2M
Market Conditions
NOI Build-Up for 10,341 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
$341.3K $33.00/SF
− Vacancy
−$75.1K −$7.26/SF
EGI
$266.2K $25.74/SF
− OpEx
−$66.5K −$6.44/SF
NOI
$199.6K $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%
$3,992,660
Cap Rate 7%
$2,851,900
Cap Rate 9%
$2,218,144
Alternative Uses
Best Use
Office B
$2.85M
$2.50M – $3.33M
NOI $199,633 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.05M
$3.54M – $4.72M
NOI $283,178 @ 7.0% cap · market cap 4.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,178
Businesses Nearby
Explore this area
Business Placement
Demographics for 33020, FL
45,044
Population
22,508
Households
2
Avg Household Size
41
Median Age
29%
College-Educated
89%
High-School Grad
6.0 sq mi
ZIP Area
7,507
Density / Sq Mi
$52,535
Median Household Income
$32,449
Median Earnings
$1,444
Median Rent
$306,700
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 - The 1994-built property provides an office-oriented commercial asset within IM-1 zoning.
Where is this office building located?
The property is located at 3500 N 28TH Terrace Hollywood, FL.
What is the asking price?
The asking price for this property is $6,900,000.
What are key features of this property?
This property features: 10,341 SF office building; Constructed in 1994; IM‑1 zoning
