Remodeled Corner Office Above
For Sale
$595,000
3800 S Ocean Dr 212, Hollywood, FL 33019
Fully remodeled corner office with parking, ready to occupy.
Property Size1,226 SF
Lot Size0.03 Acres
Price / SF$485.32
Days on Market171
Property Features for 3800 S Ocean Dr 212
General Information
Standard status
Active
Size
1,226 SF
Lot size
0.03 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,750
Building Details
Building Size
1,226 SF
Year Built
1973
Listing Agency:
Prestige Luxury Real Estate
(305) 230-8884
Listed By:
Marco Cunha
(305) 230-8884
Source:
Elliman
Added: Mar 10
Changed: Aug 17
Last Checked: Aug 26 at 9:34AM
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 Prestige Luxury Real Estate
Investment Insights
Based on property information with market context.
This 1,226-square-foot corner office is located directly above Citibank. The renovated office features wallpapered walls, including in the kitchen, drop ceilings with recessed LED lights, and customized furniture. It is equipped with two 75-inch TVs and five computers with multi-monitor setups. The property includes three parking spaces, one on the ground floor and two on the 4th floor. This is a turnkey sale.
Key Highlights
- Fully remodeled corner office above Citibank
- Includes 3 parking spaces
- Turnkey sale: High‑quality customized furniture, two 75‑inch TVs, and 5 computers with multi‑monitor setups included
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
$23,668
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
3.98%
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%
$473,360
$473.4K
Cap Rate 7%
$338,114
$338.1K
Cap Rate 9%
$262,978
$263.0K
Market Conditions
NOI Build-Up for 1,226 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
$40.5K $33.00/SF
− Vacancy
−$8.9K −$7.26/SF
EGI
$31.6K $25.74/SF
− OpEx
−$7.9K −$6.44/SF
NOI
$23.7K $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%
$473,360
Cap Rate 7%
$338,114
Cap Rate 9%
$262,978
Alternative Uses
Best Use
Office B
$338.1K
$295.9K – $394.5K
NOI $23,668 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$479.6K
$419.7K – $559.6K
NOI $33,573 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,117
Businesses Nearby
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?
Office units - Fully remodeled corner office with parking, ready to occupy.
Where is this office units located?
The property is located at 3800 S Ocean Dr 212 Hollywood, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Fully remodeled corner office above Citibank; Includes 3 parking spaces; Turnkey sale: High‑quality customized furniture, two 75‑inch TVs, and 5 computers with multi‑monitor setups included
