Medical Office Condo For
For Sale
Contact for pricing
7171 N University Dr, Tamarac, FL 33321
Ground floor suite in Tamarac near HCA Woodmont Hospital.
Property Size9,207 SF
Lot Size2.60 Acres
Price / SF$347.56
Days on Market911
Property Features for 7171 N University Dr
General Information
Standard status
Active
Size
9,207 SF
Class
B
Lot size
2.60 Acres
Property subtype
Office
Building Details
Year Built
1994
Buildings
1
Stories
3
Units
6
Listing Agency:
Box Real Estate LLC
Listed By:
Jason Chamely · License #3180591
(954) 526-3900
Source:
Crexi
Added: Mar 6, 2024
Changed: Aug 14
Last Checked: Sep 1 at 8:20PM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
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
$244,032
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
7.63%
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%
$4,880,640
$4.9M
Cap Rate 7%
$3,486,171
$3.5M
Cap Rate 9%
$2,711,467
$2.7M
Market Conditions
NOI Build-Up for 9,207 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
$419.8K $45.60/SF
− Vacancy
−$94.5K −$10.26/SF
EGI
$325.4K $35.34/SF
− OpEx
−$81.3K −$8.84/SF
NOI
$244.0K $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%
$4,880,640
Cap Rate 7%
$3,486,171
Cap Rate 9%
$2,711,467
Alternative Uses
Best Use
Office B
$3.49M
$3.05M – $4.07M
NOI $244,032 @ 7.0% cap · market cap 7.63%
Second Best
Healthcare Medical
$1.73M
$1.52M – $2.02M
NOI $121,311 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$4.67M
$4.09M – $5.45M
NOI $326,977 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
525
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33321, FL
51,011
Population
24,009
Households
2.1
Avg Household Size
48
Median Age
28%
College-Educated
89%
High-School Grad
8.2 sq mi
ZIP Area
6,221
Density / Sq Mi
$60,013
Median Household Income
$38,742
Median Earnings
$1,846
Median Rent
$259,200
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.
Frequently Asked Questions
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.
