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Commercial Real Estate in Key West & the Florida Keys by RE/MAXCommercial Real Estate in Key West & the Florida Keys by RE/MAX

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Advantages and Disadvantages of Converting Existing Office Space for Your Medical or Dental Practice

Advantages and Disadvantages of Converting Existing Office Space for Your Medical or Dental PracticeIf you are a medical or dental professional getting ready to set up a new office space, you have a number of choices at your disposal. You can find a suitable location and build a brand new office from the ground up, complete with state-of-the-art technology and cutting-edge fixtures. You can purchase an office space that had previously been used for medical or dental work, ensuring that at least some of the fixtures and technology you need will already be in place. Or you can purchase general office space and retrofit that space to meet the needs of your medical or dental office.

All three approaches have their unique advantages and disadvantages, and it is important to look at the pros and cons of both building a new office space and retrofitting an existing one. The decision you make depends on a number of factors, from the budget you have to work with to the availability of empty office space in the area where you wish to locate your practice.

Office Space Availability

One advantage of converting an existing office space to a medical or dental practice is that empty office space is often easier to come by than either open ground or existing medical and dental office space. If you live in a large urban area or major city, chances are good that vacant lots are extremely rare, making it quite difficult to build an office from the ground up to suit your needs.

On the other hand, chances are good that there is plenty of available office space just waiting to be converted to your needs. Businesses come and go all the time, and when they do they leave lots of office space behind. If you are lucky enough to live in a city or town with a large number of office space vacancies, you might even be able to rent or buy that office space quite inexpensively.

Costs of Conversion

On the other hand, you do face some additional expenses if you plan to convert an existing office space to a medical or dental office. You may need to rewire part of the building for the specific electrical needs of medical and dental equipment, and you might need to install backup generators as well.

You will also need to look at things like sound-dampening technologies to protect patient privacy, and perhaps set up private consulting offices where there are now only cubicles. All of these conversions of use take money, and it is important to factor those costs in when you are creating your budget. You can save money when you buy an existing office space, but it is important to weigh the extra costs associated with that conversion against the money you save on the front end.

Creating a warm and welcoming medical or dental office is never an easy task, but with the right planning, you can design a space your patients will find both comfortable and reassuring.

Hot Key West Business Opportunities

101600 Overseas Highway $20,000,000

101600 Overseas Highway KEY LARGO, Florida

3 Beds 3 Baths 3,717 SqFt

139 Seaside Avenue $10,500,000

139 Seaside Avenue KEY LARGO, Florida

5 Beds 7 Baths 6,740 SqFt

5730 4Th Avenue $9,995,000

5730 4Th Avenue Stock Island, Florida

9 Baths 6,444 SqFt

1622 Overseas Highway $9,900,000

1622 Overseas Highway MARATHON, Florida

3,400 SqFt

12685 Overseas Highway $8,500,000

12685 Overseas Highway MARATHON, Florida

5,607 SqFt

517 Duval & 518 Bahama Street $7,500,000

517 Duval & 518 Bahama Street KEY WEST, Florida

4 Baths 7,854 SqFt

3428 Roosevelt Boulevard N 1,2,3,4,5,6 $5,995,000

3428 Roosevelt Boulevard N 1,2,3,4,5,6 KEY WEST, Florida

7 Baths 8,046 SqFt

$5,250,000

Key Largo, Florida

2 Baths 4,680 SqFt

96180 Overseas Highway $4,650,000

96180 Overseas Highway KEY LARGO, Florida

3 Beds 3 Baths 1,445 SqFt 0.960 Acres

919 - 921 Duval Street $3,750,000

919 - 921 Duval Street KEY WEST, Florida

9 Beds 6 Baths 4,173 SqFt

101350 Overseas Highway $3,250,000

101350 Overseas Highway KEY LARGO, Florida

2 Baths 6,674 SqFt

1100 Indies Drive S $2,725,000

1100 Indies Drive S Duck, Florida

4 Beds 4 Baths 3,402 SqFt 0.290 Acres

100150 Overseas Highway $2,400,000

100150 Overseas Highway KEY LARGO, Florida

2,436 SqFt

352 Seaview Drive E $2,200,000

352 Seaview Drive E Duck, Florida

2 Beds 3 Baths 1,440 SqFt 0.190 Acres

218 Bristol Court $1,999,000

218 Bristol Court Tavernier, Florida

3 Beds 2 Baths 1,628 SqFt 0.150 Acres

Are You Looking for Commercial Property in the Florida Keys?

Use our site to search commercial real estate in Key West and all of the Florida Keys. Unlike the “big name” sites out there, our site is directly connected to our local MLS and is updated with new properties every HOUR. By creating a Property Manager account you can stay on top of the newest businesses that go up on the market and get Price Change alerts so you can stay ahead of other buyers and beat them to the best deals!

In the meantime, check out these 1-click searches:

  • All Businesses for Sale
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  • Marinas for Sale in Key West
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Newest Key West Commercial Properties on the Market

Great opportunity to purchase a SIX UNIT corner property!  All units are spacious with 2 bedrooms and 1 bath. Separately metered for water and electric.  Five units are month to month and one unit has a lease ending 9/2023. Close to dining, resorts, marina, and only minutes to Key West.  Ideal for investors, perfect for employee housing or owner occupier with rental income.  Prime corner 125x50 lot with ample off street parking. Sale is subject to court approval of Personal Rep. for the Estate of Co-Seller. $1,750,000 Active

6336 2nd Street Stock Island, Florida

6 Beds 6 Baths 5,394 SqFt

Endless possibilities! Rare multi-use commercial/residential building located in prime location in Old Town, Key West. Now available, 2000 sq.ft. commercial space on ground floor with 2 bathrooms and bonus office/storeroom. Upstairs are (3) three large residential apartments with a terrace. All the units have independent entrances and separate electric meters. The first apartment has 3 large bedrooms, 2 full bathrooms, stainless steel appliances & spacious balcony. The second apartment has a new kitchen with 2 bedrooms, 1 bathroom. The third unit is a large studio with full kitchen and bathroom. Enjoy the proximity to the beaches, restaurants, shopping and all the attractions. This mixed-use property is a must see! Perfect for 1031 exchange, investor, employee housing or owner occupier. As per request, rental income and annual expenses are available. Schedule your viewing today! $2,900,000 Active

1110 White Street KEY WEST, Florida

6 Beds 6 Baths 3,657 SqFt

Fantastic space available in the heart of the evening crowd across from the Opal and Ocean Key House Hotels and steps away from world famous Mallory Square, Key West's popular Sunset Celebration. High traffic location with cruise ship passengers and tourists using the old town train & trolley stationed right across the street. Ground level storefront with large display windows and approximately 1250 sq. ft. of retail space with an additional 950 sq. ft. of space that could be combined next door for a total of 2,200 sf. ft. Triple net expenses and sales tax are in addition to the amount quoted $8,300 Active

308 Front Street KEY WEST, Florida

1 Baths 9,411 SqFt

Fantastic space available in the heart of the evening crowd across from the Opal and Ocean Key House Hotels and steps away from world famous Mallory Square, Key West's popular Sunset Celebration. High traffic location with cruise ship passengers and tourists using the old town train & trolley stationed right across the street. Ground level storefront with large display windows and approximately 950 sq. ft. of retail space with an additional 1250 sq. ft. of space that could be combined next door for a total of 2,200 sf. ft. Triple net expenses and sales tax are in addition to the amount quoted $6,308 Active

304 Front Street KEY WEST, Florida

1 Baths 9,411 SqFt

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Posted in: Buying Commercial Real Estate, Buying Tips, Dental Practice, Medical Practice, Office Space, Uncategorized Tagged: Converting Office Space, Dental Practice, Medical Practice, Office Space

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Key West Office

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Business Address:
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