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    Property profile & analytics

    1505 N University Dr Coral Springs, FL 33071

    • Office buildings
    • 22,925 SF
    • 1.00 lot acres
    For Sale
    View listing
    $6,700,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4119242
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 1505 N University Dr

    Year built
    1988
    Construction
    CONCRETE
    Lot size
    1.00 lot acres
    Property size
    22,925 SF
    Zone code
    B-2
    Property type
    Office buildings
    APN
    48-41-28-01-1660
    APU
    484128011660

    Description

    This exceptional four-story, 22,925-square-foot medical office building in Coral Springs, Florida, presents a compelling owner-user opportunity. Located on over an acre of land with dedicated front and back parking lots, including covered parking, this Class B building boasts eight units, strategically situated on University Drive. The building, constructed in 1993, features a ground floor of 5,214 square feet of medical office space. The second floor, previously a fully equipped surgical suite with overnight recovery capabilities, encompasses 7,300 square feet. The third floor comprises two approximately 2,000-square-foot suites, while the fourth floor offers three suites ranging from 1,000 to 3,000 square feet. Four suites are currently leased, helping to offset operating costs. The property includes a substantial 60kW Kohler generator system powering the entire second floor and essential building systems. Its prime location offers convenient proximity to three major hospitals: Broward Health Coral Springs (1.5 miles), HCA Woodmont Tamarac Hospital (2.8 miles), and North West Medical Center Margate (4.5 miles). The property is zoned B2 and has a lot size of 43,625 square feet. The asking price is $6,700,000. The APN is 484128011660.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,045,000
      6.5%
      $7,425,000
      7%
      $6,895,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,431,000
      Market price range: $5.87M - $9.72M
      AI Estimate
      $4,671,000
      Market price range: $3.11M - $8.73M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $8,515,000
      Current use
      MEDICAL BUILDING
      $8,045,000
      Change: -6% Conversion: Easy
      WAREHOUSE, STORAGE
      $7,060,000
      Change: -17% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Coral Springs
    County
    Broward
    State
    Florida
    Longitude
    -80.2524
    Latitude
    26.2496
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $82,259
    $654,380
    $2,843,720
    $3,498,100
    -
    $654,380
    $2,843,720
    $3,498,100

    Comparable in this City

    • Value Estimation by Request
      704 SF

      1500 University Dr Ste, Unit 204

      PROFESSIONAL BUILDING • 704 SF
      1500 University Dr Ste, Coral Springs, FL 33071-6072
      View Details
    • Value Estimation
      $2,290,000
      9,956 SF

      1844 University Dr

      OFFICE BUILDING (MULTI-STORY) • 9,956 SF
      1844 University Dr, Coral Springs, FL 33071-6031
      View Details
    • Value Estimation
      $645,000
      2,057 SF

      1500 University Dr Ste, Unit 101

      PROFESSIONAL BUILDING • 2,057 SF
      1500 University Dr Ste, Coral Springs, FL 33071-6071
      View Details
    • Value Estimation by Request
      1,530 SF

      1881 University Dr Ste, Unit 104

      PROFESSIONAL BUILDING • 1,530 SF
      1881 University Dr Ste, Coral Springs, FL 33071-6093
      View Details
    • Value Estimation by Request
      482 SF

      1881 University Dr Ste, Unit 113

      PROFESSIONAL BUILDING • 482 SF
      1881 University Dr Ste, Coral Springs, FL 33071-6094
      View Details
    • Value Estimation by Request
      783 SF

      1500 University Dr Ste, Unit 117

      PROFESSIONAL BUILDING • 783 SF
      1500 University Dr Ste, Coral Springs, FL 33071-6071
      View Details

    Similar Nearby for Sale

    • $1,000,000

      Coral Springs Office Condo For Sale

      Ground floor medical office, fully renovated.
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    • $1,000,000
      2.10 Acres

      Renovated Medical Office in Coral Springs

      Ground floor medical office with recent full renovation and modern amenities.
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    • $1,000,000
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      Coral Springs Medical Office Condo

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    • $6,700,000

      Coral Springs Medical Office Building

      Prime Medical Office Building, 22,925 SF
      1505 University Dr, Coral Springs, FL 33071
      View Details
    • $6,700,000
      1.00 Acres

      Coral Springs Medical Office Building

      Freestanding medical office building in Coral Springs, fronting University Drive.
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    • Contact for pricing

      Prime Coral Springs Retail/Office Space

      Move-in ready 3,000 SF space near Coral Square Mall.
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    Similar Nearby for Lease

    • Contact for pricing
      7,492 SF

      Coral Springs Office Building For Rent

      Three-story office building on University Drive in Coral Springs.
      1890 N University Dr, Coral Springs, FL 33071
      View Details
    • $19 SF/Yr
      1,633 SF

      Coral Springs Office Space Available

      Office space available for lease in Coral Springs, Florida.
      1401 N University Dr, Coral Springs, FL 33071
      View Details
    • $650 /Mo

      Furnished Office Space Available

      Furnished office space for rent with included utilities and conference room.
      1700 N University 304, Coral Springs, FL 33071
      View Details
    • $15 SF/Yr
      2,951 SF

      Coral Springs Executive Tower Office

      Office space available for lease in Coral Springs, Florida.
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    • $400 /Mo
      91,554 SF

      Coral Springs Executive Suites For Rent

      Executive suites available in Coral Springs with flexible terms.
      1500 N University Dr, Coral Springs, FL 33071
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    • $39 SF/Yr

      Coral Springs Medical Office Building

      7,300 SF Freestanding Medical Office
      8901 Atlantic Blvd, Coral Springs, FL 33071
      View Details
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    Coral Springs, FL 33071
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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.

    More about this property
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