Office Medical

Towne Plaza

7443-7495 N University Drive, Tamarac, FL 33321

Listing Price: $4,700,000

Cap Rate
3.87%
Gross SF
28,600
Rentable SF
28,600
Price/Gross SF
$164.34
Year Built
1988
Lot Size
3.11 acres

Investment Overview

Marcus & Millichap is pleased to exclusively present Towne Plaza: a 28,600 square foot multi-tenant medical office complex situated on 3.11 acres in Tamarac, Florida. Towne Plaza is currently 46.20% occupied by quality medical tenants on Modified Gross Leases. The vacant suites can be custom-built for tenant's needs and includes a 9,600 square foot surgical center buildout, offering considerable upside in cash flow by increasing occupancy. The Towne Plaza is positioned as a great asset for both investors and owner-users.

The Towne Plaza has direct frontage on highly traveled North University Drive with a traffic count of over 51,000 vehicles per day and is easily accessed from the Florida Turnpike and Sawgrass Expressway. The subject property neighbors University Hospital & Medical Center, Tamarac Recreational Center and Tamarac Elementary. Surrounding national retailers include Aldi, Walgreens, Bank of America, Walmart, Wendy's Publix, Dunkin Donuts, Ross, and Shell. Additionally, the immediate area has strong demographics with a population of over 440,800 within a five-mile radius of the subject property.

The city of Tamarac is a centrally located city within Broward County. The city offers easy access to five major highways and is within 30 minutes of Fort Lauderdale-Hollywood International Airport, Port Everglades, Amtrak, Brightline, and Tri-Rail. With the addition of new neighborhoods, businesses, a community center, retail, multiple parks, and more the city has transformed from a once active retirement community to attract a younger and more diverse population from all walks of life. Today the city is home to over 66,000 residents and thousands of businesses and is the 7th largest metropolitan statistical area in the U.S.by population. The city's location, neighborhoods, and business-friendly environment position Tamarac is set to be a focal point for continuous commercial and residential development in the years to come.

Investment Highlights

  • 28,600 Square Foot Multi-Tenant Medical Office/Retail Building
  • Considerable Upside in Cash Flow by Increasing Occupancy
  • Located Next to University Hospital and Medical Center Campus
  • Direct Frontage on North University Drive With Over 51,000 Vehicle Per Day
  • Ample Parking with 120 Surface Parking Spaces
  • Population of Over 440,800 Residents Within a 5-Mile Radius

Exclusively Listed By

Financing By

  • Robert Bhat

    First Vice President Capital Markets

    Direct:

    Email Robert

    Miami, FL

Listing Price: $4,700,000

Cap Rate
3.87%
Gross SF
28,600
Rentable SF
28,600
Price/Gross SF
$164.34
Year Built
1988
Lot Size
3.11 acres

Investment Highlights

  • 28,600 Square Foot Multi-Tenant Medical Office/Retail Building
  • Considerable Upside in Cash Flow by Increasing Occupancy
  • Located Next to University Hospital and Medical Center Campus
  • Direct Frontage on North University Drive With Over 51,000 Vehicle Per Day
  • Ample Parking with 120 Surface Parking Spaces
  • Population of Over 440,800 Residents Within a 5-Mile Radius

Investment Overview

Marcus & Millichap is pleased to exclusively present Towne Plaza: a 28,600 square foot multi-tenant medical office complex situated on 3.11 acres in Tamarac, Florida. Towne Plaza is currently 46.20% occupied by quality medical tenants on Modified Gross Leases. The vacant suites can be custom-built for tenant's needs and includes a 9,600 square foot surgical center buildout, offering considerable upside in cash flow by increasing occupancy. The Towne Plaza is positioned as a great asset for both investors and owner-users.

The Towne Plaza has direct frontage on highly traveled North University Drive with a traffic count of over 51,000 vehicles per day and is easily accessed from the Florida Turnpike and Sawgrass Expressway. The subject property neighbors University Hospital & Medical Center, Tamarac Recreational Center and Tamarac Elementary. Surrounding national retailers include Aldi, Walgreens, Bank of America, Walmart, Wendy's Publix, Dunkin Donuts, Ross, and Shell. Additionally, the immediate area has strong demographics with a population of over 440,800 within a five-mile radius of the subject property.

The city of Tamarac is a centrally located city within Broward County. The city offers easy access to five major highways and is within 30 minutes of Fort Lauderdale-Hollywood International Airport, Port Everglades, Amtrak, Brightline, and Tri-Rail. With the addition of new neighborhoods, businesses, a community center, retail, multiple parks, and more the city has transformed from a once active retirement community to attract a younger and more diverse population from all walks of life. Today the city is home to over 66,000 residents and thousands of businesses and is the 7th largest metropolitan statistical area in the U.S.by population. The city's location, neighborhoods, and business-friendly environment position Tamarac is set to be a focal point for continuous commercial and residential development in the years to come.

Exclusively Listed By

Financing By

  • Robert Bhat

    First Vice President Capital Markets

    Direct:

    Email Robert

    Miami, FL

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