Sunrise Office Building
For Sale
Contact for pricing
8870 W Oakland Park Blvd Suite #102, Sunrise, FL 33351
Modern office building with long-term tenant in Sunrise, Florida.
Property Size3,244 SF
Price / SF$339.09
Days on Market687
Property Features for 8870 W Oakland Park Blvd Suite #102
General Information
Standard status
Active
Size
3,244 SF
Class
B
Property subtype
Office
Zoning
B3
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$65,592
Building Details
Year Built
2009
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Berger Commercial Realty
(954) 802-6031
Listed By:
Calder Alfano · License #SL3608925
Source:
Crexi
Added: Oct 5, 2024
Changed: Aug 8
Last Checked: Aug 21 at 2:21PM
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 Berger Commercial Realty
Investment Insights
Based on property information with market context.
This 3,244 square foot office building in Sunrise, Florida, presents an investment opportunity with a chiropractic tenant under a newly signed triple net lease featuring 3% annual escalations. Constructed in 2009, the property consists of one unit and is zoned B3, offering versatility for various professional uses. The building is well-maintained. Situated in a bustling area of Sunrise, the property benefits from easy accessibility and visibility. The location provides convenient access to major roadways and public transportation. The surrounding area features a vibrant business community with numerous dining, shopping, and entertainment options. Nearby landmarks include Sawgrass Mills Mall, BB&T Center, and the Florida Panthers IceDen. This turnkey investment promises immediate returns and long-term value.
Key Highlights
- Newly signed triple net lease with 3% annual escalations provides immediate and increasing returns.
- Long‑standing chiropractic tenant ensures stable income.
- Prime location in the bustling Sunrise area offers high visibility and easy accessibility.
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
$85,982
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
7.82%
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%
$1,719,640
$1.7M
Cap Rate 7%
$1,228,314
$1.2M
Cap Rate 9%
$955,356
$955.4K
Market Conditions
NOI Build-Up for 3,244 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
$147.9K $45.60/SF
− Vacancy
−$33.3K −$10.26/SF
EGI
$114.6K $35.34/SF
− OpEx
−$28.7K −$8.84/SF
NOI
$86.0K $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%
$1,719,640
Cap Rate 7%
$1,228,314
Cap Rate 9%
$955,356
Alternative Uses
Best Use
Office B
$1.23M
$1.07M – $1.43M
NOI $85,982 @ 7.0% cap · market cap 7.82%
Second Best
Healthcare Medical
$610.6K
$534.3K – $712.4K
NOI $42,743 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,207 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,089
Businesses Nearby
Explore this area
Business Placement
Demographics for 33351, FL
36,913
Population
13,843
Households
2.7
Avg Household Size
38
Median Age
31%
College-Educated
92%
High-School Grad
5.5 sq mi
ZIP Area
6,711
Density / Sq Mi
$68,996
Median Household Income
$40,013
Median Earnings
$1,881
Median Rent
$352,500
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?
Office building - Modern office building with long-term tenant in Sunrise, Florida.
Where is this office building located?
The property is located at 8870 W Oakland Park Blvd Suite #102 Sunrise, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Newly signed triple net lease with 3% annual escalations provides immediate and increasing returns.; Long‑standing chiropractic tenant ensures stable income.; Prime location in the bustling Sunrise area offers high visibility and easy accessibility.
