Medical Office Condo For
For Sale
Contact for pricing
1 SW 129th Ave # 401, Pembroke Pines, FL 33027
Medical office condo in Centrum Plaza, ready for occupancy.
Property Size3,000 SF
Price / SF$483.33
Days on Market762
Property Features for 1 SW 129th Ave # 401
General Information
Standard status
Active
Size
3,000 SF
Class
A
Property subtype
Office, Multifamily
Zoning
(PO)
Building Details
Year Built
1990
Listing Agency:
RE/MAX 5 Star Realty
(954) 453-1000
Listed By:
John DeMarco · License #BK3134747
Source:
Crexi
Added: Jul 16, 2024
Changed: Aug 8
Last Checked: May 12 at 10:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX 5 Star Realty
Investment Insights
Based on property information with market context.
This medical office condo is located in Centrum Plaza, approximately 1 mile east of I-75 on Pines Boulevard. It is situated next to Century Village and near Memorial West Hospital. The condo is suitable for either an owner-user or an investor. The space is fully built out and ready for immediate occupancy. The layout includes 5 exam rooms, 2 private offices, an X-ray room, a lab area, a reception area, a waiting room, and a break room/lounge. The property provides ample, direct parking for customers. The property size is 3000 square feet.
Key Highlights
- Prime Location: Situated in Centrum Plaza, just 1 mile east of I‑75 on Pines Boulevard, near Century Village and Memorial West Hospital.
- Fully Built‑Out Medical Office: Ready for immediate occupancy, ideal for owner‑users or investors.
- Comprehensive Medical Layout: Features 5 exam rooms, 2 private offices, X‑ray room, lab area, reception, waiting room, and break room/lounge.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$58,968
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,179,360
$1.2M
Cap Rate 7%
$842,400
$842.4K
Cap Rate 9%
$655,200
$655.2K
Market Conditions
NOI Build-Up for 3,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$100.8K $33.60/SF
− Vacancy
−$22.2K −$7.39/SF
EGI
$78.6K $26.21/SF
− OpEx
−$19.7K −$6.55/SF
NOI
$59.0K $19.66/SF
Area
Pembroke Pines, FL
Vacancy
22.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,179,360
Cap Rate 7%
$842,400
Cap Rate 9%
$655,200
Alternative Uses
Best Use
Office B
$842.4K
$737.1K – $982.8K
NOI $58,968 @ 7.0% cap · market cap 4.07%
Second Best
Healthcare Medical
$746.1K
$652.9K – $870.5K
NOI $52,229 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$1.27M
$1.11M – $1.49M
NOI $89,194 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33027, FL
63,726
Population
26,247
Households
2.4
Avg Household Size
45
Median Age
42%
College-Educated
93%
High-School Grad
13.4 sq mi
ZIP Area
4,756
Density / Sq Mi
$73,450
Median Household Income
$50,689
Median Earnings
$1,788
Median Rent
$403,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office condo in Centrum Plaza, ready for occupancy.
Where is this medical office space located?
The property is located at 1 SW 129th Ave # 401 Pembroke Pines, FL.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Prime Location: Situated in Centrum Plaza, just 1 mile east of I‑75 on Pines Boulevard, near Century Village and Memorial West Hospital.; Fully Built‑Out Medical Office: Ready for immediate occupancy, ideal for owner‑users or investors.; Comprehensive Medical Layout: Features 5 exam rooms, 2 private offices, X‑ray room, lab area, reception, waiting room, and break room/lounge.
