Medical Office Suite with Private
For Sale
$1,532,500
3800 S Ocean Dr #224-226, Hollywood, FL 33019
Two contiguous units offer a polished clinical setting with central A/C, glass doors, and high ceilings.
Property Size2,500 SF
Price / SF$613
Days on Market50
Property Features for 3800 S Ocean Dr #224-226
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Unassigned
Additional Details
Highway Access
Yes
Amenities
high ceilings
glass doors
premium marble floors
smart lighting
central A/C
Building Details
Building Size
2,500 SF
Year Built
1973
Listing Agency:
CASTELL BLAU LLC
(786) 425-3185
Listed By:
Daniel Pimas · License #3508618
Source:
Commercialcafe
Added: Jul 13
Changed: Aug 29
Last Checked: Aug 30 at 1:18PM
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 CASTELL BLAU LLC
Investment Insights
Based on property information with market context.
This medical office property combines two adjoining units totaling 2,500 square feet within the Hallmark Building. The layout includes five private offices, high ceilings, glass doors, marble flooring, smart lighting, and central A/C. These existing improvements provide a professional setting for a range of healthcare practices.
The property is located at 3800 S Ocean Dr in Hollywood, across from the beach and near major highways. Optional remodeling services are available separately, including in-office sink installation, structural reinforcement, and customized reception work. Built in 1973, the space offers an established office setting with the flexibility for further customization.
The property is located at 3800 S Ocean Dr in Hollywood, across from the beach and near major highways. Optional remodeling services are available separately, including in-office sink installation, structural reinforcement, and customized reception work. Built in 1973, the space offers an established office setting with the flexibility for further customization.
Key Highlights
- 2,500‑square‑foot medical office property comprising two contiguous units
- Five private offices with high ceilings and glass doors
- Marble floors, smart lighting, and central A/C
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
$48,263
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
3.15%
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%
$965,260
$965.3K
Cap Rate 7%
$689,471
$689.5K
Cap Rate 9%
$536,256
$536.3K
Market Conditions
NOI Build-Up for 2,500 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
$82.5K $33.00/SF
− Vacancy
−$18.2K −$7.26/SF
EGI
$64.4K $25.74/SF
− OpEx
−$16.1K −$6.44/SF
NOI
$48.3K $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%
$965,260
Cap Rate 7%
$689,471
Cap Rate 9%
$536,256
Alternative Uses
Best Use
Office B
$689.5K
$603.3K – $804.4K
NOI $48,263 @ 7.0% cap · market cap 3.15%
Second Best
Healthcare Medical
$503.5K
$440.6K – $587.4K
NOI $35,244 @ 7.0% cap · market cap 2.30%
Theoretical Best
Office A
$978.0K
$855.8K – $1.14M
NOI $68,460 @ 7.0% cap · market cap 4.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,117
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33019, FL
15,497
Population
12,453
Households
1.2
Avg Household Size
55
Median Age
60%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
4,188
Density / Sq Mi
$94,824
Median Household Income
$59,226
Median Earnings
$1,983
Median Rent
$631,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two contiguous units offer a polished clinical setting with central A/C, glass doors, and high ceilings.
Where is this medical office space located?
The property is located at 3800 S Ocean Dr #224-226 Hollywood, FL.
What is the asking price?
The asking price for this property is $1,532,500.
What are key features of this property?
This property features: 2,500‑square‑foot medical office property comprising two contiguous units; Five private offices with high ceilings and glass doors; Marble floors, smart lighting, and central A/C
