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Sale Leaseback Opportunity 3400 N Andrews Avenue Ext 15,040 SF 100% Leased Office Building Pompano Beach, FL 33064 $5,800,000 ($385.64/SF) 7.26% Cap Rate
Executive Summary
Now available for sale, 3402 N Andrews Ave Ext in Pompano Beach presents a compelling ±15,040 SF medical investment opportunity offered at $5,800,000. Built in 2003 on approximately 1.11 acres, the two-story property serves as the headquarters of MedStation, an established multi-location South Florida medical practice. Upon closing, MedStation will enter into a new 10-year absolute NNN lease at $28.00/SF, generating approximately $421,120 in annualized NOI and representing a 7.26% cap rate. Ideally positioned directly on Andrews Avenue Extension near Sample Road and I-95, the property benefits from excellent accessibility and visibility, including signage exposure from the Tri-Rail corridor. With a fresh 10-year lease commencing at closing, an established medical tenant, and a strategic Broward County location, the property offers investors an attractive opportunity to acquire a well-positioned medical asset with long-term income stability. - Call Mark Faeth - 561-716-7819
Property Facts
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Office
Property Subtype
Medical
Building Size
15,040 SF
Building Class
A
Year Built/Renovated
2003/2004
Price
$5,800,000
Price Per SF
$385.64
Cap Rate
7.26%
NOI
$421,120
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
7,520 SF
Slab To Slab
12’
Building FAR
0.31
Lot Size
1.11 AC
Zoning
B-3 - Business District
Parking
57 Spaces (3.79 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Line
- Commuter Rail
- Property Manager on Site
- Security System
- Signage
- High Ceilings
- Direct Elevator Exposure
- Monument Signage
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Health Care and Social Assistance
- -
- $11.00
- Triple Net
- Feb 2018
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| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Health Care and Social Assistance | - | $11.00 | Triple Net | Feb 2018 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 48-42-22-19-0031 | Improvements Assessment | $2,311,150 |
| Land Assessment | $339,510 | Total Assessment | $2,650,660 |
Property Taxes
Parcel Number
48-42-22-19-0031
Land Assessment
$339,510
Improvements Assessment
$2,311,150
Total Assessment
$2,650,660
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