Medical Office Suite with Private
New
For Sale
$1,128,000
3800 S Ocean Dr #217, Hollywood, FL 33019
Healthcare-oriented suite with natural light, hardwood floors, and a functional multi-office layout.
Property Size2,000 SF
Price / SF$564
Days on Market2
Property Features for 3800 S Ocean Dr #217
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Other
Building Details
Building Size
2,000 SF
Year Built
1973
Stories
1
Listing Agency:
CASTELL BLAU LLC
Listed By:
Daniel Pimas · License #3508618
(786) 425-3185
Source:
Commercialcafe
Added: Sep 1
Last Checked: Sep 1 at 9:46PM
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.
Located in the Hallmark Building, this 2,000-square-foot medical office suite includes 11 private offices arranged for healthcare operations. Expansive windows bring natural light throughout the space, while hardwood flooring adds a polished finish. The configuration is suited to medical, dental, and psychological practices, with a layout designed to support separate work areas for practitioners and patients.
The property is at 3800 S Ocean Dr, #217, in Hollywood, directly across from the Diplomat Beach Resort. Major medical centers and primary transit routes are nearby. An optional remodeling service is available separately, with potential improvements including in-office sinks, structural reinforcement, and a customized reception area. The building was constructed in 1973.
The property is at 3800 S Ocean Dr, #217, in Hollywood, directly across from the Diplomat Beach Resort. Major medical centers and primary transit routes are nearby. An optional remodeling service is available separately, with potential improvements including in-office sinks, structural reinforcement, and a customized reception area. The building was constructed in 1973.
Key Highlights
- 2,000‑square‑foot medical office suite with 11 private offices
- Hallmark Building address at 3800 S Ocean Dr, #217, Hollywood, FL 33019
- Expansive windows provide natural light throughout the suite
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
$38,610
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
3.42%
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%
$772,200
$772.2K
Cap Rate 7%
$551,571
$551.6K
Cap Rate 9%
$429,000
$429.0K
Market Conditions
NOI Build-Up for 2,000 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
$66.0K $33.00/SF
− Vacancy
−$14.5K −$7.26/SF
EGI
$51.5K $25.74/SF
− OpEx
−$12.9K −$6.44/SF
NOI
$38.6K $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%
$772,200
Cap Rate 7%
$551,571
Cap Rate 9%
$429,000
Alternative Uses
Best Use
Office B
$551.6K
$482.6K – $643.5K
NOI $38,610 @ 7.0% cap · market cap 3.42%
Second Best
Healthcare Medical
$402.8K
$352.4K – $469.9K
NOI $28,195 @ 7.0% cap · market cap 2.50%
Theoretical Best
Office A
$782.4K
$684.6K – $912.8K
NOI $54,768 @ 7.0% cap · market cap 4.86%
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
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 - Healthcare-oriented suite with natural light, hardwood floors, and a functional multi-office layout.
Where is this medical office space located?
The property is located at 3800 S Ocean Dr #217 Hollywood, FL.
What is the asking price?
The asking price for this property is $1,128,000.
What are key features of this property?
This property features: 2,000‑square‑foot medical office suite with 11 private offices; Hallmark Building address at 3800 S Ocean Dr, #217, Hollywood, FL 33019; Expansive windows provide natural light throughout the suite
