Leased Medical Office
For Sale
Contact for pricing
3880 Coconut Creek Pkwy, Coconut Creek, FL 33066
100% leased medical office property with future upside.
Property Size10,644 SF
Price / SF$319.43
Days on Market156
Property Features for 3880 Coconut Creek Pkwy
General Information
Standard status
Active
Size
10,644 SF
Class
B
Property subtype
Office
Zoning
B-3
Occupancy
100%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$208,484
Building Details
Year Built
1977
Buildings
1
Stories
1
Units
6
Tenancy
Multi
Listing Agency:
Native Realty
Listed By:
Dan Ross · License #SL3428197
Source:
Crexi
Added: Mar 17
Changed: Aug 8
Last Checked: Aug 8 at 6:30AM
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 Native Realty
Investment Insights
Based on property information with market context.
This property is a 100% leased medical office building with 10,644 square feet of space. The property offers potential future upside.
Key Highlights
- 100% Leased: Provides immediate income stream.
- Medical Office Property: Enjoy a stable tenant base and specialized use.
- Future Upside: Don't miss the potential for increased value or revenue.
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
$282,119
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
8.30%
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%
$5,642,380
$5.6M
Cap Rate 7%
$4,030,271
$4.0M
Cap Rate 9%
$3,134,656
$3.1M
Market Conditions
NOI Build-Up for 10,644 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
$485.4K $45.60/SF
− Vacancy
−$109.2K −$10.26/SF
EGI
$376.2K $35.34/SF
− OpEx
−$94.0K −$8.84/SF
NOI
$282.1K $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%
$5,642,380
Cap Rate 7%
$4,030,271
Cap Rate 9%
$3,134,656
Alternative Uses
Best Use
Office B
$4.03M
$3.53M – $4.70M
NOI $282,119 @ 7.0% cap · market cap 8.30%
Second Best
Healthcare Medical
$2.00M
$1.75M – $2.34M
NOI $140,245 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$5.40M
$4.73M – $6.30M
NOI $378,011 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
905
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Lyons Road Animal Hospital — 1467 Lyons Rd, Coconut Creek, FL 33063
- Lyons Road Animal Hospital: Melgey Christopher DVM — 1467 lyons rd, coconut creek, fl 33063
Frequently Asked Questions
What type of property is this?
Medical Office Space - 100% leased medical office property with future upside.
Where is this medical office space located?
The property is located at 3880 Coconut Creek Pkwy Coconut Creek, FL.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: 100% Leased: Provides immediate income stream.; Medical Office Property: Enjoy a stable tenant base and specialized use.; Future Upside: Don't miss the potential for increased value or revenue.
