Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2960 State Road 7 Margate, FL 33063
    Back to Search
    Property profile & analytics

    2960 State Road 7 Margate, FL 33063

    View on Map
    • Office properties & Spaces
    • 45,565 SF
    • 3.99 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 2960 State Road 7

    Year built
    2004
    Lot size
    3.99 lot acres
    Property size
    45,565 SF
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional three-story medical office building, totaling 45,565 square feet, is situated on a 3.99-acre lot in the thriving city of Margate, Florida, within Broward County. Built in 2004, the property boasts a single building with 170 parking spaces and convenient elevator access. The building offers multiple tenancy options, with suites ranging from 698 square feet to 15,600 square feet, currently featuring six available spaces. Its strategic location at 2960 N State Rd 7, zip code 33063, provides excellent visibility and accessibility. The property offers a unique opportunity for a full-floor single-tenant user, providing significant branding potential with available monument and building signage. This prime location is further enhanced by its adjacency to the main hospital entrance, ensuring high foot traffic and convenient access for patients and staff. Highly competitive lease rates and tenant improvement allowances are available, making this an attractive investment opportunity for medical professionals seeking a well-appointed and strategically located space. The property's modern design and ample parking cater to the needs of a diverse medical practice. This is a rare opportunity to secure a prominent medical office space in a high-demand area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Margate
    County
    Broward
    State
    Florida
    Longitude
    -80.2006
    Latitude
    26.264

    Comparable in this City

    • Value Estimation by Request
      20,714 SF

      2922 State Road 7

      Medical Office Space • 20,714 SF
      2922 State Road 7, Margate, FL 33063
      View Details
    • Value Estimation
      $1,285,000
      6,377 SF

      3275 State Rd 7th 7

      MEDICAL BUILDING • 6,377 SF
      3275 State Rd 7th 7, Margate, FL 33063-7011
      View Details
    • Value Estimation
      $6,415,000
      31,652 SF

      3251 State Rd 7th 7

      MEDICAL BUILDING • 31,652 SF
      3251 State Rd 7th 7, Margate, FL 33063-7057
      View Details
    • Value Estimation
      $805,000
      4,599 SF

      6130 Atlantic Blvd

      MEDICAL BUILDING • 4,599 SF
      6130 Atlantic Blvd, Margate, FL 33063-5123
      View Details
    • Value Estimation
      $5,925,000
      37,702 SF

      5901 Colonial Dr

      MEDICAL BUILDING • 37,702 SF
      5901 Colonial Dr, Margate, FL 33063-5675
      View Details
    • Value Estimation
      $9,350,000
      60,350 SF

      2825 State Rd 7th 7

      MEDICAL BUILDING • 60,350 SF
      2825 State Rd 7th 7, Margate, FL 33063-5737
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Corner Unit in Multi-Use Building

      Well-lit corner unit suitable for medical or office use.
      100 101St Ave, Margate, FL 33063
      View Details
    • $1,740,000
      3,270 SF

      Two-Story Office Building with Elevator

      Spacious office building with elevator for sale or lease.
      513 N State 7 Rd, Margate, FL 33063
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      20,714 SF

      Margate Medical Office Center

      Prime Medical & Retail Space Available
      2922 State Rd 7, Margate, FL 33063
      View Details
    • $22 SF/Yr

      Medical Office Space Available

      Full-floor opportunity with signage and competitive lease rates.
      2960 North State Road 7, Margate, FL 33063
      View Details
    • Contact for pricing

      Medical Office Attached to Hospital

      Medical office building connected to Northwest Medical Center.
      2825 N State Road 7, Margate, FL 33063
      View Details
    • Contact for pricing

      Margate Commercial Space For Rent

      First-floor commercial space suitable for retail, medical, office, or showroom.
      6101 W Atlantic Blvd # 104, Margate, FL 33063
      View Details
    • Contact for pricing

      Medical Office Suites For Rent

      On-campus medical office suites with signage opportunities and ample parking.
      2960 N State Road 7, Margate, FL 33063
      View Details
    • Contact for pricing
      10,000 SF

      Renovated Suites in Broward Business Park

      Newly renovated 2,000-4,000 SF suites in Central Broward location.
      1901 Mears Pkwy, Margate, FL 33063
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2960 State Road 7
    Margate, FL 33063
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2960 State Road 7, Margate, FL, 33063
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!