Medical Office Building with NNN
For Sale
$14,000,000
201 N Pine Island Rd, Plantation, FL 33324
Medical facility supported by an absolute NNN lease and scheduled annual increases.
Property Size15,052 SF
Price / SF$930.11
Days on Market112
Property Features for 201 N Pine Island Rd
General Information
Standard status
Active
Size
15,052 SF
Property subtype
Office Medical
Occupancy
100%
Additional Details
Cap Rate
5.85%
Amenities
Absolute Triple Net Lease Structure Allows for Passive Ownership
New 10-Year Lease Executed in May 2025 Features One Ten-Year Option to Renew
Beneficial Rental Increase Schedule Provides Cash Flow Growth and Appreciation 3% Annual Increases Throughout Base Term and Option Period
Established Practice with Strong Guarantor Financial Performance Multiple Company Guarantee Structure Nearly $25MM Net Income Securing Lease Location is Responsible for Nearly Half of Total Revenue of Company Across Eight Locations Exceptionally Low Rent/Revenue for Individual Location at 3.9% for FY-2025
Ample Physician Count with Multiple Specialties Five Surgeons Offering Services in Neurology, Orthopedics, and Spine
Immediate Area Features Consistent Population Growth and Strong Economic Demos 387,000+ People within 5-Mile Radius Average Household Income of $113,000+ within 1 Mile Radius
Significant Cap Ex Taking Place of $130,000+ New Roof, Paint and Stucco of Exterior Parking Overlay, Seal and Stripe
Major Medical and Commerce Sector of Broward County Baptist Health Wellness & Medical Complex: This 112,000 SF, Four-Story Facility is Baptist Health's Largest in Broward County Houses an Urgent Care Center and Specialized Care for Cardiology, Orthopedics, and Cancer HCA Florida Westside Hospital: A major full-service, 250-bed hospital providing a wide range of emergency, surgical, and specialized medical services UHealth Plantation (University of Miami Health System): Brings top-tier Miami-b
Building Details
Building Size
15,052 SF
Year Built
2005
Tenancy
Single
Listed By:
Chris Biuso · License #License(s): FL: SL3424071
(407) 557-3841
Source:
Marcusmillichap
Added: Jun 28
Changed: Oct 9
Last Checked: Oct 16 at 5:49AM
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 Chris Biuso
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 15,052-square-foot medical office property was built in 2005 and is leased under an absolute NNN structure. A new 10-year lease was executed in May 2025, with one additional 10-year renewal option and 3% annual increases during both the base term and option period. The established practice includes five surgeons serving neurology, orthopedics, and spine patients, supported by a multiple-company guarantee structure.
Located at 201 N Pine Island Rd. in Plantation, the property is positioned within Broward County’s medical and commercial sector. The surrounding area includes Baptist Health Wellness & Medical Complex, HCA Florida Westside Hospital, and UHealth Plantation. The immediate trade area includes more than 387,000 people within a 5-mile radius, while the property is near major healthcare facilities serving a range of specialties.
Recent capital improvements include a new roof, exterior paint and stucco, and parking overlay, seal, and striping. The offering reflects a 5.85% cap rate.
Located at 201 N Pine Island Rd. in Plantation, the property is positioned within Broward County’s medical and commercial sector. The surrounding area includes Baptist Health Wellness & Medical Complex, HCA Florida Westside Hospital, and UHealth Plantation. The immediate trade area includes more than 387,000 people within a 5-mile radius, while the property is near major healthcare facilities serving a range of specialties.
Recent capital improvements include a new roof, exterior paint and stucco, and parking overlay, seal, and striping. The offering reflects a 5.85% cap rate.
Key Highlights
- 15,052‑square‑foot medical office property built in 2005
- Absolute NNN lease executed for 10 years in May 2025
- One 10‑year renewal option with 3% annual increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$398,953
Cap Rate
2.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,979,060
$8.0M
Cap Rate 7%
$5,699,329
$5.7M
Cap Rate 9%
$4,432,811
$4.4M
Market Conditions
NOI Build-Up for 15,052 SF
Gross rent
$686.4K $45.60/SF
− Vacancy
−$154.4K −$10.26/SF
EGI
$531.9K $35.34/SF
− OpEx
−$133.0K −$8.84/SF
NOI
$399.0K $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 Rate 5%
$7,979,060
Cap Rate 7%
$5,699,329
Cap Rate 9%
$4,432,811
Alternative Uses
Best Use
Office B
$5.70M
$4.99M – $6.65M
NOI $398,953 @ 7.0% cap · market cap 2.85%
Second Best
Healthcare Medical
$2.83M
$2.48M – $3.31M
NOI $198,325 @ 7.0% cap · market cap 1.42%
Theoretical Best
Office A
$7.64M
$6.68M – $8.91M
NOI $534,556 @ 7.0% cap · market cap 3.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,760
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33324, FL
46,766
Population
22,375
Households
2.1
Avg Household Size
41
Median Age
45%
College-Educated
94%
High-School Grad
9.0 sq mi
ZIP Area
5,196
Density / Sq Mi
$83,678
Median Household Income
$45,560
Median Earnings
$2,152
Median Rent
$350,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Lakeside Animal Hospital — 9601 W Broward Blvd, Plantation, FL 33324
- Petco Vaccination Clinic — 8111 W Broward Blvd, Plantation, FL 33324
- Mc Inerney Marie T DVM — 50 N University Dr, Plantation, FL 33324
- Chewy Vet Care Plantation — 301 N University Dr Suite S2-400, Plantation, FL 33324
- Banfield Pet Hospital — 500 N Pine Island Rd, Plantation, FL 33324
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical facility supported by an absolute NNN lease and scheduled annual increases.
Where is this medical office space located?
The property is located at 201 N Pine Island Rd Plantation, FL.
What is the asking price?
The asking price for this property is $14,000,000.
What are key features of this property?
This property features: 15,052‑square‑foot medical office property built in 2005; Absolute NNN lease executed for 10 years in May 2025; One 10‑year renewal option with 3% annual increases
