1505 University DrCoral Springs, FL 33071

Property Details for 1505 University Dr

Year built

1988

Construction

CONCRETE

Lot size

1.00 AC

Property size (Sq ft)

22,925 SF

Zone code

B-2

Property type

Office buildings

APN

48-41-28-01-1660

APU

484128011660

Description

This exceptional four-story, 22,925-square-foot medical office building in Coral Springs, Florida, presents a compelling owner-user opportunity. Located on over an acre of land with dedicated front and back parking lots, including covered parking, this Class B building boasts eight units, strategically situated on University Drive. The building, constructed in 1993, features a ground floor of 5,214 square feet of medical office space. The second floor, previously a fully equipped surgical suite with overnight recovery capabilities, encompasses 7,300 square feet. The third floor comprises two approximately 2,000-square-foot suites, while the fourth floor offers three suites ranging from 1,000 to 3,000 square feet. Four suites are currently leased, helping to offset operating costs. The property includes a substantial 60kW Kohler generator system powering the entire second floor and essential building systems. Its prime location offers convenient proximity to three major hospitals: Broward Health Coral Springs (1.5 miles), HCA Woodmont Tamarac Hospital (2.8 miles), and North West Medical Center Margate (4.5 miles). The property is zoned B2 and has a lot size of 43,625 square feet. The asking price is $6,700,000. The APN is 484128011660.

• CAP approach

  CAP return

  Valuation

  6%

  $6,815,680

  6.5%

  $6,291,396

  7%

  $5,842,011

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,772,504

  Geo Method

  $6,772,504

• Alternative Use

  Use

  Valuation

  Residential

  $7,801,332

  Hospitality

  $7,145,978

  Educational

  $5,945,370

  Medical

  $6,149,840

  Retail

  $9,248,353

Location Insight

City

Coral Springs

County

Broward

State

Florida

Latitude

26.2496

Longitude

-80.2524

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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