Building Details

Building Size 100,000 SF

Year Built 2005

Properties For Sale

at 1951 Southwest 172nd Avenue

Suite 200 (Sublease)

Size 3,091 SF

Type Medical

Term 42 months

Contact us

Listing Agency: Levy Realty Advisors LLC

Listed By: Judith (Judy) A. Dolan · License #FL #BK0666298 Show Phone

Source: Levyrealtyadvisors

Added: Jun 25 Changed: Oct 9 Last Checked: Oct 20 at 7:39PM

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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 Levy Realty Advisors LLC

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

Medical office suite available within a medical office building adjacent to Memorial Hospital Miramar. The space offers 9–10 exam rooms, a waiting area, and admin area, along with 1–2 private offices and a staff lounge/breakroom. The suite is offered for sublease, either in full or through a space-sharing arrangement.

The term expires June 30, 2029, with renewal options available in the lease. Tenant is open to space sharing arrangements.

Key Highlights

• 3,091 +/- SF medical office suite in a medical office building adjacent to Memorial Hospital Miramar
• Layout includes 9–10 exam rooms, waiting area, admin area, and a staff lounge/breakroom
• Includes 1–2 private offices plus space that can support a variety of medical practice needs

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$1,121,904

Suggested Prices Based on Cap Rates

Cap Rate 5%

$22,438,080 $22.4M

Cap Rate 7%

$16,027,200 $16.0M

Cap Rate 9%

$12,465,600 $12.5M

What to ask about pricing

Market Conditions

NOI Build-Up for 100,000 SF

Gross rent

$1.91M $19.08/SF

− Vacancy

−$412.1K −$4.12/SF

EGI

$1.50M $14.96/SF

− OpEx

−$374.0K −$3.74/SF

NOI

$1.12M $11.22/SF

Area

Miramar, FL

Vacancy

21.60%

Lease Rate

$19.08 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$22,438,080

Cap Rate 7%

$16,027,200

Cap Rate 9%

$12,465,600

Alternative Uses

Best Use

Healthcare Medical

$21.87M

$19.14M – $25.52M (±1% cap)

NOI $1,530,900 @ 7.0% cap · market cap 6,003,529.41%

Second Best

Office B

$16.03M

$14.02M – $18.70M (±1% cap)

NOI $1,121,904 @ 7.0% cap · market cap 4,399,623.53%

Theoretical Best

Specialty Retail

$46.54M

$40.72M – $54.29M (±1% cap)

NOI $3,257,604 @ 7.0% cap · market cap 12,774,917.65%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Dental Office Auto Repair Shop Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

485

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 33029, FL

46,202

Population

14,075

Households

3.3

Avg Household Size

41

Median Age

46%

College-Educated

95%

High-School Grad

16.8 sq mi

ZIP Area

2,750

Density / Sq Mi

$145,282

Median Household Income

$59,285

Median Earnings

$2,324

Median Rent

$575,900

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - 3,091 +/- SF medical office suite with 9–10 exam rooms, waiting area, and staff lounge/breakroom.

Where is this medical office space located?

The property is located at 1951 Southwest 172nd Avenue Miramar, FL.

What are key features of this property?

This property features: 3,091 +/- SF medical office suite in a medical office building adjacent to Memorial Hospital Miramar; Layout includes 9–10 exam rooms, waiting area, admin area, and a staff lounge/breakroom; Includes 1–2 private offices plus space that can support a variety of medical practice needs