Medical Office Condo For
7171 N University Drive, Tamarac, FL 33321
Ground floor medical office condo in Tamarac, Florida.
Type:Office
Property size:
9,207 SFLot size:
2.60 AcresPrice / SF:
$347/SF- Added:
- Mar 6, 2024
- Days on Market:
- 811
- Last Refresh:
- May 12 at 10:26 pm
Property Features for 7171 N University Drive
General Information
- Standard status
- Active
- Size
- 9,207 SF
- Lot size
- 2.60 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1993
Listing agent Jason Chamely
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 a medical practice.
- Currently operating as an Orthopedic Practice with 13 exam rooms, 2 imaging rooms, and a full physical therapy wing including a pool.
- Located in Tamarac adjacent to HCA Woodmont Hospital (327 beds with full ER).
- Ample parking available.
- Includes 5 additional offices and a large reception/waiting area.
- Opportunity to acquire controlling stake in the building and association/management control.
Overview
The property at 7171 N University Drive is a 3-story medical office condominium building situated on 2.6 acres. The available space for sale is the entire ground floor, Suite 100, encompassing 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. Ample parking is available to support medical use for the entire building. The sale could include additional ownership, potentially giving a controlling stake in the building and association management control.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$2.71M
NOI $244,032 @ 9.00% cap · cautious / downside scenario
Moderate
$3.49M
NOI $244,032 @ 7.00% cap · market / base-case scenario
Aggressive
$4.88M
NOI $244,032 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Office B
| 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 Use Scenarios
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 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
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Ground floor medical office condo in Tamarac, Florida.
Where is this medical office space located?
The property is located at 7171 N University Drive 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 a medical practice.; Currently operating as an Orthopedic Practice with 13 exam rooms, 2 imaging rooms, and a full physical therapy wing including a pool.; Located in Tamarac adjacent to HCA Woodmont Hospital (327 beds with full ER).
