Remodeled Corner Office
For Sale
$595,000
3800 S Ocean Dr Unit 212, Hollywood, FL 33019
Remodeled office unit includes furnishings, technology, and dedicated parking.
Property Size1,226 SF
Price / SF$485.32
Days on Market49
Property Features for 3800 S Ocean Dr Unit 212
General Information
Standard status
Active
Size
1,226 SF
Total Parking Spaces
3
Additional Details
Furnished
Yes
Building Details
Year Built
1973
Listing Agency:
Prestige Luxury Real Estate
(305) 230-8884
Listed By:
Marco Cunha
Source:
Thepennteam
Added: Jul 13
Changed: Aug 29
Last Checked: Aug 30 at 6:45PM
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 unit was remodeled with a finished interior designed for immediate occupancy. Improvements include wallpaper throughout the office and kitchen, drop ceilings with recessed LED lighting, customized furniture, and an integrated technology package featuring two 75-inch TVs and five computers with multi-monitor capability. The furniture and equipment convey with the sale.
The office is located directly above Citibank and includes three parking spaces: one on the ground floor and two on the fourth floor. The building was constructed in 1973, while the office has been substantially renovated for its current configuration.
The office is located directly above Citibank and includes three parking spaces: one on the ground floor and two on the fourth floor. The building was constructed in 1973, while the office has been substantially renovated for its current configuration.
Key Highlights
- 1,226 SF corner office unit
- Fully remodeled office and kitchen interiors
- Customized furniture and technology 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 - Remodeled office unit includes furnishings, technology, and dedicated parking.
Where is this office units located?
The property is located at 3800 S Ocean Dr Unit 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: 1,226 SF corner office unit; Fully remodeled office and kitchen interiors; Customized furniture and technology included
