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    Medical Office Condo For Sale Title is generated by Realmo AI

    7171 N University Dr, Tamarac, FL 33321

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    Ground floor suite in Tamarac near HCA Woodmont Hospital.

    Type:Office
    Property size:
    9,207 SF
    Lot size:
    2.60 Acres
    Price / SF:
    $347/SF
    Added:
    Mar 6, 2024
    Days on Market:
    819
    Last Refresh:
    May 12 at 9:34 pm

    Property Features for 7171 N University Dr

    General Information

    Standard status
    Active
    Size
    9,207 SF
    Lot size
    2.60 Acres
    Property subtype
    Office

    Building Details

    Year Built
    1994

    We can help!

    Listing Contact
    Jason Chamely
    Jason Chamely

    Listing agent Jason Chamely License #3180591

    Listing office Box Real Estate LLC

    Listing date Mar 6, 2024

    Source Crexi

    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 Box Real Estate LLC

    HighLights

    • 9,207 sqft ground floor suite ideal for medical practice, currently an Orthopedic Practice.
    • Located adjacent to HCA Woodmont Hospital (327 beds, full ER) in Tamarac.
    • Features 13 exam rooms, 2 imaging rooms, 5 offices, large reception/waiting area, and full physical therapy wing with pool.
    • Ample parking on 2.6 acres fronting University Drive.
    • Opportunity to acquire controlling stake in the building and association/management control.
    • Lease back or shared use options may be considered.

    Overview

    The property at 7171 N University Drive is a 3-story medical office condominium building situated on 2.6 acres. The available space is the entire ground floor, Suite 100, which encompasses 9,207 square feet. Currently operating as an orthopedic practice, Suite 100 features 13 exam rooms, 2 imaging rooms, and 5 additional offices. It also includes a large reception and waiting area, as well as a full physical therapy wing complete with a pool. The location in Tamarac is adjacent to HCA Woodmont Hospital, a 327-bed facility with a full emergency room. The building is not affiliated with the hospital and sits off the main campus. The sale of Suite 100 could include additional ownership, potentially giving the buyer a controlling stake in the building and association management control. The property is currently owner-occupied, and lead time will be required to vacate upon sale. A lease-back option or shared use with a complementary practice may be considered.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $419.8k $45.60
    − Vacancy −$94.5k −$10.26
    EGI $325.4k $35.34
    − OpEx −$81.3k −$8.84
    NOI $244.0k $26.51
    9,207 SF · lease $45.60/SF/yr · vacancy 22.50% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $3.49M
    $3.05M – $4.07M (±1% cap)
    NOI $244,032 @ 7.0% cap · market cap 7.63%
    Second Best
    Healthcare Medical
    $1.73M
    $1.52M – $2.02M (±1% cap)
    NOI $121,311 @ 7.0% cap · market cap 3.79%
    Theoretical Best
    Office A
    $4.67M
    $4.09M – $5.45M (±1% cap)
    NOI $326,977 @ 7.0% cap · market cap 10.22%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Similar Places Nearby

    • Arthur's Pharmacy and Medical supply — 5816 N University Dr, Tamarac, FL 33321
    • Pet Emergency Center — 7110 N University Dr, Tamarac, FL 33321
    • Russell Swift Holistic — 7154 N University Dr, Tamarac, FL 33321

    Map

    City
    Tamarac
    County
    Broward
    State
    Florida
    Longitude
    -80.2701
    Latitude
    26.2125

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    FAQs

    What type of property is this?
    Medical Office Space - Ground floor suite in Tamarac near HCA Woodmont Hospital.
    Where is this medical office space located?
    The property is located at 7171 N University Dr Tamarac, FL.
    What is the asking price?
    The asking price for this property is $3,200,000.
    What are key features of this property?
    This property features: 9,207 sqft ground floor suite ideal for medical practice, currently an Orthopedic Practice.; Located adjacent to HCA Woodmont Hospital (327 beds, full ER) in Tamarac.; Features 13 exam rooms, 2 imaging rooms, 5 offices, large reception/waiting area, and full physical therapy wing with pool.
    (954) 526-3900 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jason Chamely
    Jason Chamely
    Real Estate License ID: 3180591
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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