Updated Aug 26, 2026
SPHERE Investments Acquires Medical Office In Margate For $14.7 Million From Florida Medical Space
3251 State Road 7
$14,700,000
$470/SF
Building Size
31,243 SF
Asset Type
Medical Office
Closing
Aug 5, 2026
About this deal
AI
The property located at 3251 State Road 7 in Margate is a medical office asset extending over 31,243 square feet. The sale was executed at a price of $14,700,000, translating to approximately $470 per square foot.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $14,700,000
- Buyer: SPHERE Investments
- Seller: Florida Medical Space, Inc.
- Seller's Representative: Alex Zylberglait - Marcus & Millichap
- Broker: Lane Neville, Cole Neville, Matt Westra, Cade Olivas & Brandon Hall - NAI Horizon
The transaction involved SPHERE Investments purchasing the property from Florida Medical Space, Inc., with representation from Alex Zylberglait. The deal was brokered by a team from NAI Horizon consisting of Lane Neville, Cole Neville, Matt Westra, Cade Olivas, and Brandon Hall.
Players
Margate Medical Office Market Snapshot
Boundary boundary · Medical Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.08%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93