Class A Office Condo
For Sale
$990,000
503-200 S Andrews Ave, Fort Lauderdale, FL 33301
Turnkey, renovated office condo featuring executive offices, conference space, and bullpen-style open workspace with reception.
Property Size2,400 SF
Price / SF$412.50
Days on Market102
Property Features for 503-200 S Andrews Ave
General Information
Standard status
Active
Size
2,400 SF
Class
A
Total Parking Spaces
2
Additional Details
Highway Access
Yes
Office Units
6
Taxes and HOA fees
Annual Taxes
$16,727
Amenities
live security
secured entry access
electricity included
well-maintained common areas
private parking garage
Listing Agency:
Coastal Group Brokers
Listed By:
Harpreet Singh · License #A12048526
(954) 400-9527
Source:
Exprealty
Added: May 28
Changed: Aug 26
Last Checked: Sep 5 at 3:04PM
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 Coastal Group Brokers
Investment Insights
Based on property information with market context.
This Class A office condo suite in the Museum Plaza building is offered in move-in-ready condition with approximately 2,400 SF of renovated office space. The interior layout includes six executive offices, a large conference room, a welcoming reception area, a file/storage room, a kitchenette, and an expansive bullpen/open workspace suited to team collaboration. Floor-to-ceiling windows throughout provide natural light and downtown skyline views.
The building provides secured entry access and live security, with well-maintained common areas. Electricity is included through the association. On-site parking is available via a private parking garage with two dedicated spaces, with additional nearby public parking for visitors and staff.
The suite is positioned for convenient downtown access, with proximity to Las Olas Boulevard, Brightline, courthouses, restaurants, shopping, and major highways.
The building provides secured entry access and live security, with well-maintained common areas. Electricity is included through the association. On-site parking is available via a private parking garage with two dedicated spaces, with additional nearby public parking for visitors and staff.
The suite is positioned for convenient downtown access, with proximity to Las Olas Boulevard, Brightline, courthouses, restaurants, shopping, and major highways.
Key Highlights
- Approximately 2,400 SF Class A office condo in the Museum Plaza building in downtown Fort Lauderdale
- Renovated, move‑in‑ready suite with reception area, 6 executive offices, large conference room, and bullpen/open workspace
- Floor‑to‑ceiling windows provide abundant natural light with downtown skyline views
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
$68,947
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
6.96%
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%
$1,378,940
$1.4M
Cap Rate 7%
$984,957
$985.0K
Cap Rate 9%
$766,078
$766.1K
Market Conditions
NOI Build-Up for 2,400 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
$109.4K $45.60/SF
− Vacancy
−$17.5K −$7.30/SF
EGI
$91.9K $38.30/SF
− OpEx
−$23.0K −$9.58/SF
NOI
$68.9K $28.73/SF
Area
Fort Lauderdale, FL
Vacancy
16.00%
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%
$1,378,940
Cap Rate 7%
$984,957
Cap Rate 9%
$766,078
Alternative Uses
Best Use
Office B
$985.0K
$861.8K – $1.15M
NOI $68,947 @ 7.0% cap · market cap 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,896 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,416
Businesses Nearby
Explore this area
Business Placement
Demographics for 33301, FL
19,109
Population
13,955
Households
1.4
Avg Household Size
42
Median Age
62%
College-Educated
96%
High-School Grad
2.5 sq mi
ZIP Area
7,644
Density / Sq Mi
$115,421
Median Household Income
$76,365
Median Earnings
$2,341
Median Rent
$751,600
Median Home Value
Market
Vacancy Rate% for Office in Fort Lauderdale, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Turnkey, renovated office condo featuring executive offices, conference space, and bullpen-style open workspace with reception.
Where is this office units located?
The property is located at 503-200 S Andrews Ave Fort Lauderdale, FL.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Approximately 2,400 SF Class A office condo in the Museum Plaza building in downtown Fort Lauderdale; Renovated, move‑in‑ready suite with reception area, 6 executive offices, large conference room, and bullpen/open workspace; Floor‑to‑ceiling windows provide abundant natural light with downtown skyline views
