Medical Office Suite with PT
For Sale
$995,000
11211 Prosperity Farms Road, Palm Beach Gardens, FL
Commercial Sale, Palm Beach Gardens, FL
Property Size2,034 SF
Price / SF$489.18
Days on Market142
Property Features for 11211 Prosperity Farms Road
General Information
Property type
Residential
Property subtype
Office
Zoning
PO (city)
Parking
100
Directions
1/4 mile south of PGA Boulevard on the west side of Prosperity Farms Road. As you enter the office park, Building B is located immediately to your right in the front. There is an elevator located at the back of building B and stairs around the building
Subdivision
5260
Standard status
Active
APN
52434205140002030
Size
2,034 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
OAK PARK OFFICE COND UNITS 203 & 204
Tax Annual Amount
9390
Legal Description
OAK PARK OFFICE COND UNITS 203 & 204
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1981
Floors in Building
3
Flooring type
Wood, Vinyl
Building materials
Concrete Block - With Stucco
Roof type
Flat
Listing Agency:
Echo Fine Properties
(561) 500-3246
Listed By:
Howard Freedland · License #3482263
(561) 889-2735
Added: Apr 30
Changed: Sep 16
Last Checked: Sep 18 at 5:06PM
MLS# B26022263
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,034-square-foot medical office property comprises two connected suites with five private offices, two storage rooms, a reception area, and a large open section arranged for physical therapy gym use. The space was formerly occupied by a physical therapist studio and is available for immediate occupancy. Wood and vinyl flooring, central heating, central air, a flat roof, and concrete-block construction with stucco are documented improvements.
The property is located at 11211 Prosperity Farms Road in Palm Beach Gardens, within Palm Beach County. It carries PO zoning through the city and is served by public water and public sewer. Cable is available. The building dates to 1981 and provides a purpose-oriented layout for medical office operations.
The property is located at 11211 Prosperity Farms Road in Palm Beach Gardens, within Palm Beach County. It carries PO zoning through the city and is served by public water and public sewer. Cable is available. The building dates to 1981 and provides a purpose-oriented layout for medical office operations.
Key Highlights
- 2,034 SF medical office property in Palm Beach Gardens
- Five private offices plus two storage rooms
- Large area configured for physical therapy gym use
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
$53,911
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
5.42%
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%
$1,078,220
$1.1M
Cap Rate 7%
$770,157
$770.2K
Cap Rate 9%
$599,011
$599.0K
Market Conditions
NOI Build-Up for 2,034 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
$92.8K $45.60/SF
− Vacancy
−$20.9K −$10.26/SF
EGI
$71.9K $35.34/SF
− OpEx
−$18.0K −$8.84/SF
NOI
$53.9K $26.51/SF
Area
Palm Beach County, FL
Vacancy
22.50%
Lease Rate
$45.60 /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%
$1,078,220
Cap Rate 7%
$770,157
Cap Rate 9%
$599,011
Alternative Uses
Best Use
Office B
$770.2K
$673.9K – $898.5K
NOI $53,911 @ 7.0% cap · market cap 5.42%
Second Best
Healthcare Medical
$382.9K
$335.0K – $446.7K
NOI $26,800 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,272 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,804
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- Coral Orange Group — 2625 Natures Way, Palm Beach Gardens, FL 33410
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- PGA Animal Clinic — 1973 PGA Boulevard # A, North Palm Beach, FL 33410
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two connected office suites offer private rooms, storage, reception, and a dedicated area for physical therapy activities.
Where is this medical office space located?
The property is located at 11211 Prosperity Farms Road Palm Beach Gardens, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 2,034 SF medical office property in Palm Beach Gardens; Five private offices plus two storage rooms; Large area configured for physical therapy gym use
