5301 N Dixie Hwy - Medical FOR SALE


Fort Lauderdale, FL 33334
$8,000,000 USD
786-999-4541
5301 N Dixie Hwy, Fort Lauderdale, FL for Sale
$8,000,000 USD
Medical - FOR SALE
1/8
null | 4.53% Cap Rate

5301 N Dixie Hwy
Fort Lauderdale, FL 33334


HIGHLIGHTS

  • RARE MULTI-TENANT MEDICAL OFFICE ANCHORED BY TENET HEALTHCARE SURGICAL CENTER, A $12BN NATIONAL PUBLICLY TRADED HEALTHCARE SERVICE PROVIDER
  • SURGICAL CENTER RECENTLY RENEWED THROUGH 7/31/2029 WITH 5-YEAR OPTION TO RENEW & 3% ANNUAL RENT ESCALATIONS
  • OFFICE SPACE VALUE-ADD OPPORTUNITY THROUGH LEASE UP OF THE VACANT MEDICAL SPACE
  • SIGNIFICANT MULTI-MILLION DOLLAR RENOVATIONS & SURGICAL CENTER BUILD-OUT IN 2008
  • EXCELLENT CENTRAL EAST BROWARD LOCATION WITH ACCESSIBILITY THROUGHOUT THE COUNTY
  • IDEAL PROXIMITY LESS THAN 5 MINUTE DRIVE FROM HOLY CROSS HEALTH HOSPITAL (557 BEDS)

OVERVIEW

CBRE Inc. as the exclusive advisor, proudly presents for sale “Coral Ridge Medical Center”, a +/- 19,500 square foot medical center anchored by a Tenet Healthcare Ambulatory Surgical Center. The Subject Property is a 2-story medical office building located within the densely populated Oakland Park submarket of Fort Lauderdale, FL. The ground floor of the property is fully occupied by a Tenet Healthcare operated surgical center who has been at the center since 2007 and recently extended their lease through July 31, 2029 with a 5-year option to renew and 3% annual rent escalations. The second floor consists of four medical office suites, two of which are currently occupied by gastrointestinal and orthopedic practices. The other two suites were recently vacated by retiring physicians and present a value-add opportunity for an investor. At 75% occupancy, Coral Ridge Medical Plaza is a rare medical office offering that provides both stability from the strong surgical center anchor as well as significant upside through leasing the balance of the medical space. Coral Ridge Medical Center is located on North Dixie Highway immediately north of Commercial Boulevard and is easily accessible via major transportation arteries I-95 and US-1, both just a few minutes' drive from the plaza. The Property is also ideally located only 5 minutes from Holy Cross Health’s main campus, a 557-bed non-profit hospital and the area’s largest medical driver.

FOR SALE DETAILS

PRICE

$8,000,000 USD

PRICE/SF

$411 USD /SF

CAP RATE

4.53%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Coral Ridge Medical Plaza

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1975

SPRINKLERS

-

PARKING SPACES

101

LAND DETAILS

LAND ACRES

1.4 AC

LAND SF

60,849 SF

ZONING

B-2

APN/PARCEL ID

49-42-14-28-0030

ASK ABOUT THIS PROPERTY

786-999-4541

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786-999-4541

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