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3251 N State Rd 7
Margate, FL 33063
Gateway Medical Plaza · Office Property For Sale
Investment Highlights
- Premier Class A medical office, built 2020, 31,243 RSF
- 94.6% occupied; 9+ year WALT
- High barriers: limited SR-7 land restricts future competing supply
- Prime “Medical Mile” location, 0.6 miles from HCA hospital
- Anchor US Fertility invested $5M+ in flagship buildout
Executive Summary
Marcus and Millichap is proud to present Gateway Medical Plaza, a premier Class A medical of?ce asset located at 3251 North State Road 7 in Margate, FL. This exceptional property offers 31,243 square feet of rentable built area, currently 94.6% occupied. Built in 2020, the facility features state-of-the-art construction and accommodates a specialized tenant mix, including a fertility clinic anchor that has invested over $5 million in improvements to establish a Flagship location.
Strategically located just 0.6 miles from HCA Florida Northwest Hospital, this property benefits from a secure income stream with a weighted average lease term (WALT) exceeding 9 years. Offered at $15,650,000, the investment provides a 6.2% cap rate with clear value-add potential to achieve a 6.9% pro forma cap rate by leasing the remaining vacancy. The surrounding area supports this demand with a dense, aging population requiring consistent medical care.
Situated along the vital State Road 7 corridor, Gateway Medical Plaza offers easy access to the Florida Turnpike and Sawgrass Expressway, serving as a central healthcare destination for Northern Broward County. This prime location makes it an ideal investment for those seeking a stabilized, high-quality medical asset with recession-resistant fundamentals in a market with high barriers to entry.
Strategically located just 0.6 miles from HCA Florida Northwest Hospital, this property benefits from a secure income stream with a weighted average lease term (WALT) exceeding 9 years. Offered at $15,650,000, the investment provides a 6.2% cap rate with clear value-add potential to achieve a 6.9% pro forma cap rate by leasing the remaining vacancy. The surrounding area supports this demand with a dense, aging population requiring consistent medical care.
Situated along the vital State Road 7 corridor, Gateway Medical Plaza offers easy access to the Florida Turnpike and Sawgrass Expressway, serving as a central healthcare destination for Northern Broward County. This prime location makes it an ideal investment for those seeking a stabilized, high-quality medical asset with recession-resistant fundamentals in a market with high barriers to entry.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
31,040 SF
Building Class
A
Year Built
2020
Price
$15,620,000
Price Per SF
$503.22
Cap Rate
6.19%
NOI
$967,219
Percent Leased
95%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
15,520 SF
Building FAR
0.31
Lot Size
2.31 AC
Zoning
B-2 - General Business
Parking
151 Spaces (4.71 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 48-41-24-10-0040 | Improvements Assessment | $7,832,430 |
| Land Assessment | $1,812,290 | Total Assessment | $9,644,720 |
Property Taxes
Parcel Number
48-41-24-10-0040
Land Assessment
$1,812,290
Improvements Assessment
$7,832,430
Total Assessment
$9,644,720
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