Vacant Medical Office/Retail
For Sale
Contact for pricing
3840 Coconut Creek Parkway, Coconut Creek, FL 33066
Vacant medical office/retail space totaling 4,083 SF, offered for sale with B-3 zoning.
Property Size4,083 SF
Price / SF$342.89
Days on Market127
Property Features for 3840 Coconut Creek Parkway
General Information
Standard status
Active
Size
4,083 SF
Property subtype
Retail, Office
Zoning
B-3
Building Details
Year Built
1980
Listing Agency:
Matthews
(239) 994-9643
Listed By:
Alexander Machado · License #SL3507121
Source:
Crexi
Added: Apr 23
Changed: Aug 26
Last Checked: Aug 26 at 12:45PM
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 Matthews
Investment Insights
Based on property information with market context.
This property is a vacant medical office/retail space totaling 4,083 SF. It is currently available for sale, with use supported by B-3 zoning.
The offering is located at 3840 Coconut Creek Pkwy in Coconut Creek, FL. The property presents as a combined medical office and retail asset within the existing B-3 zoning framework.
As presented, the primary commercial takeaway is the flexibility implied by the medical office and retail positioning, along with the stated zoning designation. The space is ready for an interested buyer to evaluate fit based on the existing improvements and desired use under B-3 zoning.
The offering is located at 3840 Coconut Creek Pkwy in Coconut Creek, FL. The property presents as a combined medical office and retail asset within the existing B-3 zoning framework.
As presented, the primary commercial takeaway is the flexibility implied by the medical office and retail positioning, along with the stated zoning designation. The space is ready for an interested buyer to evaluate fit based on the existing improvements and desired use under B-3 zoning.
Key Highlights
- Vacant medical office/retail space totaling 4,083 SF
- Year built: 1980
- B‑3 zoning
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
$108,220
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
7.73%
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%
$2,164,400
$2.2M
Cap Rate 7%
$1,546,000
$1.5M
Cap Rate 9%
$1,202,444
$1.2M
Market Conditions
NOI Build-Up for 4,083 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
$186.2K $45.60/SF
− Vacancy
−$41.9K −$10.26/SF
EGI
$144.3K $35.34/SF
− OpEx
−$36.1K −$8.84/SF
NOI
$108.2K $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%
$2,164,400
Cap Rate 7%
$1,546,000
Cap Rate 9%
$1,202,444
Alternative Uses
Best Use
Office B
$1.55M
$1.35M – $1.80M
NOI $108,220 @ 7.0% cap · market cap 7.73%
Second Best
Retail
$986.3K
$863.0K – $1.15M
NOI $69,040 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $145,003 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
740
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33066, FL
16,845
Population
10,418
Households
1.6
Avg Household Size
56
Median Age
36%
College-Educated
93%
High-School Grad
3.0 sq mi
ZIP Area
5,615
Density / Sq Mi
$56,721
Median Household Income
$39,353
Median Earnings
$1,677
Median Rent
$212,000
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 Office Space - Vacant medical office/retail space totaling 4,083 SF, offered for sale with B-3 zoning.
Where is this medical office space located?
The property is located at 3840 Coconut Creek Parkway Coconut Creek, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Vacant medical office/retail space totaling 4,083 SF; Year built: 1980; B‑3 zoning
