FAQs

-What is MedOfficeSpaces.com?

MedOfficeSpaces.com is a web resource for medical professionals who are looking to sell, buy, lease or lease-out medical office space in the South Florida market. 

-Are you real estate agents? 

Yes, we are licensed realtors with the Keyes Company; Commercial Division. 

-Which Parts of South Florida Do you Cover?

Miami-Dade, Broward, Palm Beach, Martin and St. Lucie Counties. 

-Who do you represent: landlords or tenants?

We can represent both parties, landlords and/or tenants. 

-Are you experienced enough to represent me?

Yes! But don’t take our word for it. Check out our “Testimonials” section to see what our past clients have said about their experience working with us. 

-What is “the Base Rent”?

The base rent is normally presented as the price per rentable square foot per year.  It doesn’t include utilities, annual increases, escalations, concessions, surcharges, etc.  For example if the Base Rent is $30/SF/year, it means that the monthly base rent on a 2,000-square-footer is $5,000. Please inquire for more in-depth explanation. 

-What is “the loss factor”?

The loss factor is the difference between the actual (usable) square footage of a space and the rentable square footage of the space. Basically, landlords add proportionate share of common areas (lobby, hallways, bathrooms, elevators) to the actual footage of a space. The loss factor percentage ranges and you should keep it in mind when you are making your decision. We will help you compare apples to apples, not apples to oranges.

-How much does it cost to lease a medical office space in south florida?

The price depends on many variables such as location, building class, space size, lease term, buildout, vacancy rate, etc. 

-what is “the escalation”?

In leasing “escalation” means rent increase. There are several different types of escalations and in 90% of instances you will see two or three of them in your lease.
·         Fixed annual escalation toward operation expenses. Usually it’s between 2-5% per year.
·         CPI (Consumer Price Index). It is used sometimes instead of the Fixed escalation.
·         Bump. In long leases it is common to see a fixed increase(s) after a certain year(s) on top of annual percentage increases. For example, your 10-year lease can stipulate that your Base Rent will jump up by $2-$5 per square foot after year 5.

-is it better to lease or buy?

It depends on your situation. For newer medical professionals, it makes more sense to lease. Leasing is fast, flexible, not as expensive as purchasing, and often is the only available option. 

For established medical professionals who are looking to make smart investments, it is advisable to purchase. Purchasing has great benefits: equity creation, owner’s control, appreciation in the long-run, etc.

-I have a question that is not answered here, what should i do?

Feel free to call us with any questions at either 561.569.2280 or 201.452.9462. We can also be reached via e-mail at info@medofficespaces.com. We offer complimentary consultations.