Boutique Office Space For
For Sale
Contact for pricing
1620 W Oakland Park Boulevard, Oakland Park, FL 33311
Affordable office space near major roadways, ideal for professionals.
Property Size556 SF
Price / SF$330.94
Days on Market832
Property Features for 1620 W Oakland Park Boulevard
General Information
Standard status
Active
Size
556 SF
Property subtype
Office
Building Details
Year Built
1984
Listing Agency:
FlatFee.com
(954) 965-3990
Listed By:
Cliff Glansen · License #707077
Source:
Crexi
Added: May 14, 2024
Changed: Aug 21
Last Checked: Aug 23 at 7:17AM
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 FlatFee.com
Investment Insights
Based on property information with market context.
This is an affordable boutique office space for sale, situated near major roadways in a quiet area. The property includes one reserved covered parking space. It features a three-room suite within an architecturally attractive building, totaling 556 square feet. The space is suitable for professional service providers. The building incorporates multiple levels of security for access.
Key Highlights
- Affordable boutique office space ideal for professional service provider investment.
- One reserved covered parking space included.
- Located near major roadways in a quiet enclave.
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
$14,737
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
8.01%
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%
$294,740
$294.7K
Cap Rate 7%
$210,529
$210.5K
Cap Rate 9%
$163,744
$163.7K
Market Conditions
NOI Build-Up for 556 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
$25.4K $45.60/SF
− Vacancy
−$5.7K −$10.26/SF
EGI
$19.6K $35.34/SF
− OpEx
−$4.9K −$8.84/SF
NOI
$14.7K $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%
$294,740
Cap Rate 7%
$210,529
Cap Rate 9%
$163,744
Alternative Uses
Best Use
Office B
$210.5K
$184.2K – $245.6K
NOI $14,737 @ 7.0% cap · market cap 8.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$282.1K
$246.8K – $329.1K
NOI $19,746 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
776
Businesses Nearby
Explore this area
Business Placement
Demographics for 33311, FL
69,413
Population
27,330
Households
2.5
Avg Household Size
37
Median Age
18%
College-Educated
81%
High-School Grad
10.4 sq mi
ZIP Area
6,674
Density / Sq Mi
$51,918
Median Household Income
$32,717
Median Earnings
$1,385
Median Rent
$276,600
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 units - Affordable office space near major roadways, ideal for professionals.
Where is this office units located?
The property is located at 1620 W Oakland Park Boulevard Oakland Park, FL.
What is the asking price?
The asking price for this property is $184,000.
What are key features of this property?
This property features: Affordable boutique office space ideal for professional service provider investment.; One reserved covered parking space included.; Located near major roadways in a quiet enclave.
