Single-Unit Office
For Sale
Contact for pricing
490 Sawgrass Corporate Parkway, Sunrise, FL 33325
B-3-zoned office unit with connected city water, sewer, and electric service.
Property Size3,907 SF
Price / SF$307.14
Days on Market94
Property Features for 490 Sawgrass Corporate Parkway
General Information
Standard status
Active
Size
3,907 SF
Property subtype
Office
Zoning
B-3
Lease Type
NNN
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Opportunity Zone
No
Office Units
1
Building Details
Tenancy
Single
Building Size
3,907 SF
Listing Agency:
ACRE Expert LLC
Listed By:
Drew Attias · License #Florida
Source:
Crexi
Added: May 30
Changed: Aug 31
Last Checked: Aug 31 at 2:08AM
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 ACRE Expert LLC
Investment Insights
Based on property information with market context.
This office property contains one office unit with 3,907 square feet of building area. The property is zoned B-3 and has connected sewer, city water, and electric service, supporting an established office configuration.
Located at 490 Sawgrass Corporate Parkway in Sunrise, Florida, the property has road access. The site is identified as outside a flood zone and contains no wetlands.
Located at 490 Sawgrass Corporate Parkway in Sunrise, Florida, the property has road access. The site is identified as outside a flood zone and contains no wetlands.
Key Highlights
- 3,907 sqft office building
- One office unit
- B‑3 zoning
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
$103,555
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
8.63%
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%
$2,071,100
$2.1M
Cap Rate 7%
$1,479,357
$1.5M
Cap Rate 9%
$1,150,611
$1.2M
Market Conditions
NOI Build-Up for 3,907 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
$178.2K $45.60/SF
− Vacancy
−$40.1K −$10.26/SF
EGI
$138.1K $35.34/SF
− OpEx
−$34.5K −$8.84/SF
NOI
$103.6K $26.51/SF
Area
Broward County, FL
Vacancy
22.50%
Lease Rate
$45.60 /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%
$2,071,100
Cap Rate 7%
$1,479,357
Cap Rate 9%
$1,150,611
Alternative Uses
Best Use
Office B
$1.48M
$1.29M – $1.73M
NOI $103,555 @ 7.0% cap · market cap 8.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,753 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
861
Businesses Nearby
Explore this area
Business Placement
Demographics for 33325, FL
31,556
Population
11,052
Households
2.9
Avg Household Size
40
Median Age
38%
College-Educated
89%
High-School Grad
9.4 sq mi
ZIP Area
3,357
Density / Sq Mi
$96,004
Median Household Income
$42,716
Median Earnings
$2,052
Median Rent
$406,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - B-3-zoned office unit with connected city water, sewer, and electric service.
Where is this office units located?
The property is located at 490 Sawgrass Corporate Parkway Sunrise, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,907 sqft office building; One office unit; B‑3 zoning
