Two suites in one building, medical and plain office, 30% apart on rent

The gap is mostly build out cost being paid back through rent, plus a use that can't work from home. A pediatric suite has exam rooms with sinks, a lab area, sometimes a shielded x-ray corner, extra HVAC capacity, and a floor plan that's expensive to build and expensive to change. Whoever paid for that build out is recovering it in the rent, and if the tenant paid it themselves they're stuck to the space in a way an insurance agency never is. That's the part worth paying for, the stickiness.

Where your conversion idea gets hard is the cost. Turning that 2,000 sf office suite into usable medical space means plumbing to each exam room, and in a two story building the second floor is worse because you're chasing waste lines down through the ceiling of whoever is below. On the jobs I've been on, that kind of conversion runs well north of $100/sf once you include mechanical upsizing and permits, and the permit path for a medical use can add months depending on your jurisdiction. At $8/sf of extra rent, $100/sf of cost takes over twelve years to pay back before you've counted vacancy and your own money's cost.

Get the actual lease dates and the escalation history on both suites before anything else. If the pediatric lease was signed in 2019 with 3% bumps, that $34 tells you almost nothing about today's market.