Medical Office Suite with Two
For Sale
$574,200
3800 South Ocean Dr #218, Hollywood, FL 33019
Medical office suite in the Hallmark Building with open-plan layout, marble floors, large windows, and two independent entrances.
Property Size900 SF
Price / SF$638
Days on Market33
Property Features for 3800 South Ocean Dr #218
General Information
Standard status
Active
Size
900 SF
Property subtype
Unassigned
Building Details
Year Built
1973
Listing Agency:
CASTELL BLAU LLC
(786) 425-3185
Listed By:
Daniel Pimas · License #3508618
Source:
Commercialcafe
Added: Jul 13
Changed: Jul 14
Last Checked: Aug 14 at 6:41AM
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 medical office suite offers an open-plan interior with premium marble floors and large windows that bring in natural light. The space includes two independent entrance doors, supporting flexible access and layout planning for professional offices.
The building is on Ocean Drive in Hollywood, with the suite positioned diagonally across from the Diplomat Beach Resort and just steps from the beach, giving patients convenient access and strong visibility.
Optional custom remodeling services are available through the building’s General Contractor, including in-office sink installations, room partitions, and customized receptions (available separately).
The building is on Ocean Drive in Hollywood, with the suite positioned diagonally across from the Diplomat Beach Resort and just steps from the beach, giving patients convenient access and strong visibility.
Optional custom remodeling services are available through the building’s General Contractor, including in-office sink installations, room partitions, and customized receptions (available separately).
Key Highlights
- 900 SF medical office suite in the Hallmark Building, built in 1973
- Open‑plan layout with premium marble floors and large windows
- Two independent entrance doors for separate access
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
$17,375
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
3.03%
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%
$347,500
$347.5K
Cap Rate 7%
$248,214
$248.2K
Cap Rate 9%
$193,056
$193.1K
Market Conditions
NOI Build-Up for 900 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
$29.7K $33.00/SF
− Vacancy
−$6.5K −$7.26/SF
EGI
$23.2K $25.74/SF
− OpEx
−$5.8K −$6.44/SF
NOI
$17.4K $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%
$347,500
Cap Rate 7%
$248,214
Cap Rate 9%
$193,056
Alternative Uses
Best Use
Office B
$248.2K
$217.2K – $289.6K
NOI $17,375 @ 7.0% cap · market cap 3.03%
Second Best
Healthcare Medical
$181.3K
$158.6K – $211.5K
NOI $12,688 @ 7.0% cap · market cap 2.21%
Theoretical Best
Office A
$352.1K
$308.1K – $410.8K
NOI $24,646 @ 7.0% cap · market cap 4.29%
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 - Medical office suite in the Hallmark Building with open-plan layout, marble floors, large windows, and two independent entrances.
Where is this medical office space located?
The property is located at 3800 South Ocean Dr #218 Hollywood, FL.
What is the asking price?
The asking price for this property is $574,200.
What are key features of this property?
This property features: 900 SF medical office suite in the Hallmark Building, built in 1973; Open‑plan layout with premium marble floors and large windows; Two independent entrance doors for separate access
