The Offering
CBRE, Inc., is pleased to exclusively offer for sale 4800 Medical Center, a 100% leased, medical office building located in affluent “Uptown” Fort Lauderdale along Federal Highway, just south of Commercial Boulevard, directly across from the 557 bed Holy Cross Hospital. The Property consists of a 0.44-acre parcel improved with a 13,851 square foot, 3-story, medical office building with parking under the building and office spaces on the second and third floors. Tenants are attracted to the Property due to its proximity to a major hospital, ease of access & functional space layouts. For more information, please execute the confidentiality agreement using the link below.
Investment Summary
| Address | 4800 North Federal Highway | Fort Lauderdale, Florida 33308 |
| Land Size | ±0.44 acres |
| Building Size | 13,851 SF |
| Year Built | 1976, Recently Updated & Renovated |
| Occupancy | 100% |
| Number of Tenants | 3 (4 Tenant Spaces) |
| Asking Price | $2,650,000 |
Investment Highlights
Strategic Location Near Major Hospitals, Highways and Public Transportation – The Property is located directly across the street from the 557 bed Holy Cross Hospital, which employs over 600 medical professionals. South Florida’s main north south highway, I-95, is less than 3 miles to the west, providing excellent access to commuting patients and doctors. Additionally, a bus stop is located directly across the street.
Recent Capital Improvements – Ownership has recently invested in many capital improvements in order to enhance the functionality & appeal of the Property. The improvements include a new roof, new HVAC units, new automatic lobby doors, updated tropical landscaping, re-striping & sealcoating.
Robust Projected Population Growth – The Property is poised to benefit from continued above average population growth. Over the last 5 years the South Florida MSA has seen a population increase of 413,971. Furthermore, this growth is projected to increase by another 589,827 over the next 5 years.
Stable Tenant Base with Term Remaining – Doctors are a unique office space user. They have clientele that come to their office on a regular basis & they have more improvements to their space than a general office user. These 2 items create higher barriers to relocating. As a result, medical tenants prefer longer term leases and have a higher probability of renewing. These dynamics result in a more stabilized property with better cash flow as there are fewer tenant improvement costs and less down time or vacancy.
Adjacent to Holy Cross Hospital – Holy Cross Hospital is considered one of the best hospitals in South Florida. With a staff of more than 600 highly skilled physicians representing nearly every specialty in medicine, the hospital prides itself on its ability to treat wide range of ailments. Since first opening its doors in 1955, Holy Cross Hospital has grown from a 100 bed hospital to the major 557 bed hospital. The hospital’s size and broad range of treatments attract patients from South Florida, across the United States and around the globe. 4800 Medical Center is an incredibly attractive building and receives exposure far beyond its Broward submarket.
Contact Information
| David J. Wigoda, SIOR Senior Vice President +1 (305) 428-6342 David.Wigoda@cbre.com |
Sean R. Kelly Financial Analyst +1 (561) 866-3545 Sean.Kelly@cbre.com |
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