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Boca West Medical Plaza 21020 State Road 7 31,138 SF 100% Leased Office Building Boca Raton, FL 33428 For Sale
Investment Highlights
- JV Equity Opportunity with Immediate Cash Flow: Offering a minimum 42% ownership interest in a fully leased medical office asset
- Attractive Medical Office Development Optionality: Contiguous land site capable of supporting 25,000 SF - 35,000 SF of office
- Credit Medical Tenancy with Mark-to-Market Upside: 100% leased to OneOncology and Skin and Cancer Associates with in-place net rents well below market
- Premier Boca Raton Location Near Major Medical Hub: Situated less than one mile from West Boca Medical Center with strong surrounding demographics
Executive Summary
Seeking Qualified Medical Developer JV Partner for Stable Medical Office with Development Potential
On behalf of ownership, the Colliers | South Florida Investment Services Team in collaboration with U.S. Healthcare Capital Markets, as exclusive agent, is pleased to present an opportunity to acquire a minimum 42% ownership interest in Boca West Medical Plaza (the “Property”), a stabilized medical office asset with an adjacent development parcel located at 21020 State Road 7 in Boca Raton, Florida. The offering is structured to attract joint venture partners with development expertise, seeking exposure to both in-place cash flow and future value creation.
The Property consists of a ±31,138 square foot medical office building situated on 5.29 acres near the southeast corner of State Road 7 and Glades Road, less than one mile north of West Boca Medical Center. The location benefits from strong surrounding demographics and immediate proximity to established retail, dining, and residential communities, providing a highly convenient setting for medical tenants and their patients.
Boca West Medical Plaza is 100% leased to two high-quality medical tenants—OneOncology and Skin and Cancer Associates—providing stable and predictable cash flow. The in-place tenancy offers downside protection while presenting meaningful upside, as current net rents are well below prevailing market rents. Additional value can be realized through operational efficiencies, including expense optimization and improved recovery structures, further enhancing net operating income over time.
In addition to the stabilized medical office component, the offering includes a contiguous development site that provides a compelling future growth opportunity. The land is capable of supporting approximately 25,000 square feet of additional medical office space with surface parking, or up to approximately 35,000 square feet with structured parking, subject to final design and approvals. This flexibility allows a joint venture partner to tailor a development strategy that aligns with market demand and capital objectives.
This offering represents a unique opportunity to partner with existing ownership in a hybrid investment and development platform, combining durable medical office cash flow with clearly defined development optionality in one of Boca Raton’s most desirable submarkets. Boca West Medical Plaza is ideally suited for experienced JV partners seeking long-term value creation through thoughtful development execution while benefiting from immediate income stability.
On behalf of ownership, the Colliers | South Florida Investment Services Team in collaboration with U.S. Healthcare Capital Markets, as exclusive agent, is pleased to present an opportunity to acquire a minimum 42% ownership interest in Boca West Medical Plaza (the “Property”), a stabilized medical office asset with an adjacent development parcel located at 21020 State Road 7 in Boca Raton, Florida. The offering is structured to attract joint venture partners with development expertise, seeking exposure to both in-place cash flow and future value creation.
The Property consists of a ±31,138 square foot medical office building situated on 5.29 acres near the southeast corner of State Road 7 and Glades Road, less than one mile north of West Boca Medical Center. The location benefits from strong surrounding demographics and immediate proximity to established retail, dining, and residential communities, providing a highly convenient setting for medical tenants and their patients.
Boca West Medical Plaza is 100% leased to two high-quality medical tenants—OneOncology and Skin and Cancer Associates—providing stable and predictable cash flow. The in-place tenancy offers downside protection while presenting meaningful upside, as current net rents are well below prevailing market rents. Additional value can be realized through operational efficiencies, including expense optimization and improved recovery structures, further enhancing net operating income over time.
In addition to the stabilized medical office component, the offering includes a contiguous development site that provides a compelling future growth opportunity. The land is capable of supporting approximately 25,000 square feet of additional medical office space with surface parking, or up to approximately 35,000 square feet with structured parking, subject to final design and approvals. This flexibility allows a joint venture partner to tailor a development strategy that aligns with market demand and capital objectives.
This offering represents a unique opportunity to partner with existing ownership in a hybrid investment and development platform, combining durable medical office cash flow with clearly defined development optionality in one of Boca Raton’s most desirable submarkets. Boca West Medical Plaza is ideally suited for experienced JV partners seeking long-term value creation through thoughtful development execution while benefiting from immediate income stability.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
31,138 SF
Building Class
B
Year Built/Renovated
1999/2015
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
15,569 SF
Slab To Slab
11’
Building FAR
0.14
Lot Size
5.29 AC
Zoning
CS - Commercial Specialized
Parking
152 Spaces (4.88 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
- Central Heating
- Wi-Fi
- Air Conditioning
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Health Care and Social Assistance
- -
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$9.99
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Lorem Ipsum
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Jan 0000
South Florida’s comprehensive dermatology and skincare center for every member of the family. Discover the nexus of expertise, technology and individualized patient focused attention. They provide complete medical dermatology from pediatric to senior care and everyone in between. Specializing in psoriasis, eczema, acne and all skin conditions. Skin cancer screening and MOHS surgery. They are led by cosmetic artistry by two of South Florida's most trusted and sought after specialists. Botox, fillers, laser treatments, body sculpting and more.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
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|
Health Care and Social Assistance | - | $9.99 | Lorem Ipsum | Jan 0000 |
Property Taxes
| Parcel Number | 00-42-47-19-28-001-0000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $7,193,579 |
Property Taxes
Parcel Number
00-42-47-19-28-001-0000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$7,193,579
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Boca West Medical Plaza | 21020 State Road 7
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