Listed by Matthews
$1,400,000
Vacant Medical Office/Retail - 3840 Coconut Creek Pkwy
Details
APN 48-42-32-14-0010
Property Type Retail, Office
Sub Type Bank, Executive Office
Square Footage 4,083
Price per SqFt $343
Broker Co-Op Yes
Year Built 1980
Acreage 0.410
Zoning B-3
Investment Type Owner/User
Ownership Fee Simple
Vacant Medical Office/Retail | 4,083 SF | B-3 Zoning
Investment highlights
- Flexible B-3 Community Shopping District Zoning —The property is zoned B-3 under Coconut Creek's Code of Ordinances, permitting ~45 uses by right and ~25 additional uses via special land use approval. This includes medical offices, clinics, urgent care centers, financial institutions, restaurants, general retail, professional offices, and more — giving investors and owner-users maximum flexibility for repositioning or re-tenanting.
- Below Replacement Cost Basis — At $1.4M for a ±4,083 SF building ($343/SF), the price represents a compelling basis relative to current South Florida construction costs.
- Move-In Ready Medical Build-Out with Specialized Plumbing Infrastructure - The building is fully built out for medical use, including the specialized plumbing infrastructure required for exam rooms, lab work, and clinical operations — one of the most costly and time-consuming components of a medical tenant improvement. A medical user can occupy the space with minimal additional investment, significantly reducing downtime and TI costs compared to a vanilla shell conversion.
- Owner-User or Investment Opportunity - The property works as a value-add investment (lease-up and hold or flip) or an owner-user acquisition. At $1.4M, an owner-user in medical, financial services, or professional services can acquire a well-located, move-in-ready building on a major corridor at an attractive basis. Investors can target stabilized returns by leasing to a medical, retail, or service tenant.
- Coconut Creek Parkway Visibility & Access - Coconut Creek Parkway is a primary east-west arterial connecting to the Sawgrass Expressway (SR 869), Lyons Road, and State Road 7 / US-441. The property benefits from high-visibility frontage (±26,500 VPD Coconut Creek Pkwy) along one of the city's most heavily traveled commercial corridors.
- Medical Use Demand Tailwinds in South Florida South Florida's aging and growing population continues to drive demand for medical office, urgent care, ambulatory surgical, and specialty clinic space. The property's existing medical build-out and B-3 zoning positions it to capture this demand.
- Established Infill Location/Limited Land Supply - Coconut Creek is a built-out suburban municipality with limited vacant commercial land remaining. Infill locations like this benefit from scarcity of new competing supply, supporting long-term rent growth and property value appreciation as demand increases from projects like MainStreet.
- Proximity to $1 Billion+ MainStreet at Coconut Creek Mixed-Use Development - A 170-acre, 12-block master-planned development — MainStreet at Coconut Creek — is taking shape just minutes away, bounded by Sample Road, Lyons Road, Wiles Road, and State Road 7. A joint venture led by Rosemurgy Properties, 13th Floor Homes, Schmier Property Group, and Giles Capital Group closed on a $68M land acquisition in October 2025, with Lennar securing a portion of the site for residential development. Permits have been submitted and initial infrastructure work is anticipated to begin shortly. At full build-out, the project will deliver 225,000 SF of commercial space, 1,650+ residential units, and civic amenities — creating a transformational demand driver for the surrounding commercial corridor.
- Established Commercial Corridor with National Tenants - The property is located right down the road from the Publix-anchored Coconut Creek Plaza, the Coconut Creek Community Center, and a dense cluster of national retailers and financial institutions including Dunkin', McDonald's, Bank of America, Citibank, Chase Bank, Regions Bank, Walgreens, and 7-Eleven — reinforcing the corridor's proven commercial viability and daily traffic drivers.
- Steps from Broward College North Campus - The property is located steps away from the Broward College North Campus, one of the largest community colleges in Florida with over 51,000 students enrolled system-wide. This proximity generates consistent daily foot traffic and creates built-in demand for medical, food service, financial, and professional service tenants catering to students, faculty, and staff
Listing Contacts
Listed by Matthews
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