Full-Service Medical
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For Sale
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3400 North Andrews Avenue Extension, Pompano Beach, FL 33062
Established family medicine practice provides primary, preventive, and specialty care in multiple languages.
Property Size15,040 SF
Price / SF$385.64
Days on Market7
Property Features for 3400 North Andrews Avenue Extension
General Information
Standard status
Active
Size
15,040 SF
Class
A
Property subtype
Office
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$421,120
Building Details
Year Built
2003
Stories
2
Tenancy
Single
Listing Agency:
LRM CREA LLC
(561) 400-7750
Listed By:
Chad Gottsegen · License #FL 3386660
Source:
Crexi
Added: Aug 25
Changed: Aug 31
Last Checked: Aug 31 at 8:34AM
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 LRM CREA LLC
Investment Insights
Based on property information with market context.
This medical center at 3400 North Andrews Avenue Extension in Pompano Beach has operated since the building was constructed in 2003. The practice provides family medicine, primary care, preventive services, and specialty care for patients across all stages of life.
Care is delivered in English, Spanish, and Portuguese. The Pompano Beach operation serves as the practice’s headquarters within a broader South Florida network that also includes locations in North Miami Beach, Weston, and Boca Raton. The offering combines an established healthcare operation with a physical medical center location.
Care is delivered in English, Spanish, and Portuguese. The Pompano Beach operation serves as the practice’s headquarters within a broader South Florida network that also includes locations in North Miami Beach, Weston, and Boca Raton. The offering combines an established healthcare operation with a physical medical center location.
Key Highlights
- Medical center at 3400 North Andrews Avenue Extension, Pompano Beach, FL 33062
- Building constructed in 2003
- Family medicine, primary care, preventive care, and specialty services
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
$296,844
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
5.12%
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%
$5,936,880
$5.9M
Cap Rate 7%
$4,240,629
$4.2M
Cap Rate 9%
$3,298,267
$3.3M
Market Conditions
NOI Build-Up for 15,040 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
$465.6K $30.96/SF
− Vacancy
−$69.8K −$4.64/SF
EGI
$395.8K $26.32/SF
− OpEx
−$98.9K −$6.58/SF
NOI
$296.8K $19.74/SF
Area
Pompano Beach, FL
Vacancy
15.00%
Lease Rate
$30.96 /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%
$5,936,880
Cap Rate 7%
$4,240,629
Cap Rate 9%
$3,298,267
Alternative Uses
Best Use
Office B
$4.24M
$3.71M – $4.95M
NOI $296,844 @ 7.0% cap · market cap 5.12%
Second Best
Healthcare Medical
$3.24M
$2.83M – $3.78M
NOI $226,593 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$5.87M
$5.13M – $6.84M
NOI $410,592 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
844
Businesses Nearby
Explore this area
Business Placement
Demographics for 33062, FL
25,293
Population
23,059
Households
1.1
Avg Household Size
60
Median Age
48%
College-Educated
94%
High-School Grad
3.9 sq mi
ZIP Area
6,485
Density / Sq Mi
$82,955
Median Household Income
$56,828
Median Earnings
$1,888
Median Rent
$511,800
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?
Medical center - Established family medicine practice provides primary, preventive, and specialty care in multiple languages.
Where is this medical center located?
The property is located at 3400 North Andrews Avenue Extension Pompano Beach, FL.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: Medical center at 3400 North Andrews Avenue Extension, Pompano Beach, FL 33062; Building constructed in 2003; Family medicine, primary care, preventive care, and specialty services
