Fully Leased Medical Office
For Sale
$3,400,000
3880 Coconut Creek Pkwy Coconut, Pompano Beach, FL 33066
10,644 SF medical office building with long-term NNN tenants.
Property Size10,644 SF
Price / SF$319.43
Days on Market144
Property Features for 3880 Coconut Creek Pkwy Coconut
General Information
Standard status
Active
Size
10,644 SF
Property subtype
Office
Building Details
Building Size
10,644 SF
Listing Agency:
Native Realty Co.
(954) 595-2999
Listed By:
Jaime Sturgis · License #3246270
Source:
Nativerealty
Added: Apr 1
Changed: Aug 15
Last Checked: Aug 22 at 4:45AM
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 Co.
Investment Insights
Based on property information with market context.
This 10,644 SF medical office building is fully leased to six long-term tenants on NNN leases. The property is located in central Broward County, with accessibility to the Turnpike. As one of the only medical plazas in the immediate area, tenants benefit from a strong suburban and aging patient base. Ample on-site parking ensures accessibility for patients. The building is positioned on a hard corner with monument signage, offering visibility to over 26,000 vehicles per day. The location provides branding potential for current and future tenants. The property benefits from stable in-place cash flow with below-market rents, offering future upside. Strong annual rent increases are in place. The surrounding trade area is growing, with a dense suburban population.
Key Highlights
- 100% occupied nnn leased medical building: provides stable in‑place cash flow.
- Prime central broward county location: offers easy access and proximity to the turnpike.
- Below market rents: presents future upside potential.
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
$210,081
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
6.18%
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%
$4,201,620
$4.2M
Cap Rate 7%
$3,001,157
$3.0M
Cap Rate 9%
$2,334,233
$2.3M
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
$329.5K $30.96/SF
− Vacancy
−$49.4K −$4.64/SF
EGI
$280.1K $26.32/SF
− OpEx
−$70.0K −$6.58/SF
NOI
$210.1K $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%
$4,201,620
Cap Rate 7%
$3,001,157
Cap Rate 9%
$2,334,233
Alternative Uses
Best Use
Office B
$3.00M
$2.63M – $3.50M
NOI $210,081 @ 7.0% cap · market cap 6.18%
Second Best
Healthcare Medical
$2.29M
$2.00M – $2.67M
NOI $160,363 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$4.15M
$3.63M – $4.84M
NOI $290,581 @ 7.0% cap · market cap 8.55%
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 10,644 SF medical office building with long-term NNN tenants.
Where is this medical office space located?
The property is located at 3880 Coconut Creek Pkwy Coconut Pompano Beach, 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% occupied nnn leased medical building: provides stable in‑place cash flow.; Prime central broward county location: offers easy access and proximity to the turnpike.; Below market rents: presents future upside potential.
