Turnkey Medical Office
For Sale
$1,128,000
3800 S Ocean Dr, Hollywood, FL 33019
COMMERCIAL - Other - Hollywood, FL
Property Size2,000 SF
Lot Size0.05 Acres
Price / SF$564
Days on Market61
Property Features for 3800 S Ocean Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Mixed Use
Subdivision
Hollywood South Central Beach
View
City
Directions
From I-95, take the exit for Hollywood Blvd East. Continue straight onto Hollywood Blvd until you reach S Ocean Dr (A1A). Turn right (South) onto S Ocean Dr. The Hallmark Building (3800 S Ocean Dr) will be on your right-hand side, diagonally across from the Diplomat Beach Resort. Valet or guest parking available on site. Office is located in Suite 217.
Standard status
Active
Lot size
0.05 Acres
Utilities
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1973
Floors in Building
1
Flooring type
Hardwood
Roof type
Flat
Architectural style
Other
Listing Agency:
CASTELL BLAU LLC
(786) 425-3185
Listed By:
Daniel Pimas · License #3508618
(786) 425-3185
Added: Jul 2
Changed: Aug 4
Last Checked: Aug 31 at 9:06AM
MLS# 11866511
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in the Hallmark Building at 3800 S Ocean Dr in Hollywood, FL, this for-sale medical office suite is presented as a turnkey space sized at 2,000 square feet. The interior is configured with 11 private offices, hardwood flooring, and expansive windows that bring natural light into the suite.
The building sits diagonally across from the Diplomat Beach Resort, and it is described as being close to major medical centers and main transit routes, supporting convenient patient and staff access.
The offering also includes an optional custom remodeling program through the building’s General Contractor, with items such as in-office sink installations and structural reinforcements, plus a personalized reception area available separately.
The building sits diagonally across from the Diplomat Beach Resort, and it is described as being close to major medical centers and main transit routes, supporting convenient patient and staff access.
The offering also includes an optional custom remodeling program through the building’s General Contractor, with items such as in-office sink installations and structural reinforcements, plus a personalized reception area available separately.
Key Highlights
- 2,000 sq. ft. office suite in the iconic Hallmark Building on Ocean Drive
- Suite features 11 private offices suited for medical, dental, or psychological practices
- Public water source and electric heating
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
Lease Details
1
Office units
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?
Medical center - Sale-ready medical office suite with 11 private offices, hardwood floors, and large windows in the Hallmark Building.
Where is this medical center located?
The property is located at 3800 S Ocean Dr 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 sq. ft. office suite in the iconic Hallmark Building on Ocean Drive; Suite features 11 private offices suited for medical, dental, or psychological practices; Public water source and electric heating
