Medical and Office
For Sale
Contact for pricing
6991 N State Rd 7, Coconut Creek, FL 33067
For sale medical and office building positioned near major expressways in Parkland/Coconut Creek area.
Property Size11,571 SF
Price / SF$475.33
Days on Market125
Property Features for 6991 N State Rd 7
General Information
Standard status
Active
Size
11,571 SF
Property subtype
OFFICE
Listing Agency:
RCG Commercial Realty
Listed By:
Alex Rich
(954) 554-1526
Source:
Moodyscre
Added: May 11
Changed: Sep 3
Last Checked: Sep 11 at 9:16AM
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 RCG Commercial Realty
Investment Insights
Based on property information with market context.
Offered for sale, this medical and office building is approximately 11,571 square feet and is presented as a combination medical and professional workspace. The offering includes high-end medical or office space considerations, with the property positioned for buyers evaluating both owner-occupied and investment objectives.
The property is conveniently located about 1 mile north of the Sawgrass Expressway and approximately 2 miles west of the Florida Turnpike, supporting straightforward regional access.
Located at 6991 N State Rd 7, the asset is being marketed by Rich Commercial Group as an exclusive advisory engagement for the sale of the property.
The property is conveniently located about 1 mile north of the Sawgrass Expressway and approximately 2 miles west of the Florida Turnpike, supporting straightforward regional access.
Located at 6991 N State Rd 7, the asset is being marketed by Rich Commercial Group as an exclusive advisory engagement for the sale of the property.
Key Highlights
- Medical and office building for sale in the Parkland/Coconut Creek area
- Located 1 mile north of the Sawgrass Expy.
- Located 2 miles west of the FL Turnpike
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
$306,689
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
5.58%
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%
$6,133,780
$6.1M
Cap Rate 7%
$4,381,271
$4.4M
Cap Rate 9%
$3,407,656
$3.4M
Market Conditions
NOI Build-Up for 11,571 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
$527.6K $45.60/SF
− Vacancy
−$118.7K −$10.26/SF
EGI
$408.9K $35.34/SF
− OpEx
−$102.2K −$8.84/SF
NOI
$306.7K $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%
$6,133,780
Cap Rate 7%
$4,381,271
Cap Rate 9%
$3,407,656
Alternative Uses
Best Use
Office B
$4.38M
$3.83M – $5.11M
NOI $306,689 @ 7.0% cap · market cap 5.58%
Second Best
Healthcare Medical
$2.18M
$1.91M – $2.54M
NOI $152,459 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$5.87M
$5.14M – $6.85M
NOI $410,932 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,134
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33067, FL
27,564
Population
8,994
Households
3.1
Avg Household Size
40
Median Age
56%
College-Educated
96%
High-School Grad
9.9 sq mi
ZIP Area
2,784
Density / Sq Mi
$132,385
Median Household Income
$61,744
Median Earnings
$2,128
Median Rent
$652,000
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 - For sale medical and office building positioned near major expressways in Parkland/Coconut Creek area.
Where is this medical office space located?
The property is located at 6991 N State Rd 7 Coconut Creek, FL.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Medical and office building for sale in the Parkland/Coconut Creek area; Located 1 mile north of the Sawgrass Expy.; Located 2 miles west of the FL Turnpike
