Turnkey Medical Office
For Sale
$1,054,800
Pending
1 SW 129th Avenue #401, Pembroke Pines, FL 33027
Upgraded top-floor medical office condo within Centrum Plaza with built-out exam rooms, offices, and patient waiting area.
Property Size2,687 SF
Days on Market45
Property Features for 1 SW 129th Avenue #401
General Information
Standard status
Pending
Size
2,687 SF
Zoning
(PO)
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$18,839
Building Details
Building Size
2,687 SF
Year Built
1990
Listing Agency:
The Keyes Company
(954) 816-6313
Listed By:
Joanna I Guzman · License #3338941
(954) 816-6313
Source:
Laerrealty
Added: Jul 6
Changed: Aug 8
Last Checked: Jul 30 at 2:51AM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This upgraded, top-floor medical office condo is fully built out and ready for immediate occupancy. The interior layout includes eight exam rooms, two private offices, an X-ray room, and a lab area, along with a reception area, a spacious waiting room, and a staff break room or lounge.
The property is located within Centrum Plaza on Pines Boulevard, about one mile east of I-75. It is positioned next to Century Village and near Memorial West Hospital, supporting convenient access for patients and staff.
The offering presents a turnkey configuration for a medical office use, with dedicated clinical and support spaces already incorporated into the unit.
The property is located within Centrum Plaza on Pines Boulevard, about one mile east of I-75. It is positioned next to Century Village and near Memorial West Hospital, supporting convenient access for patients and staff.
The offering presents a turnkey configuration for a medical office use, with dedicated clinical and support spaces already incorporated into the unit.
Key Highlights
- Upgraded top‑floor medical office condo in Centrum Plaza (built 1990)
- Fully built‑out layout with 8 exam rooms, X‑ray room, lab area, and reception
- Includes spacious patient waiting room plus 2 private offices and a staff 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
$52,816
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
5.01%
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%
$1,056,320
$1.1M
Cap Rate 7%
$754,514
$754.5K
Cap Rate 9%
$586,844
$586.8K
Market Conditions
NOI Build-Up for 2,687 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
$90.3K $33.60/SF
− Vacancy
−$19.9K −$7.39/SF
EGI
$70.4K $26.21/SF
− OpEx
−$17.6K −$6.55/SF
NOI
$52.8K $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%
$1,056,320
Cap Rate 7%
$754,514
Cap Rate 9%
$586,844
Alternative Uses
Best Use
Office B
$754.5K
$660.2K – $880.3K
NOI $52,816 @ 7.0% cap · market cap 5.01%
Second Best
Healthcare Medical
$668.3K
$584.8K – $779.7K
NOI $46,780 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$1.14M
$998.6K – $1.33M
NOI $79,888 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Upgraded top-floor medical office condo within Centrum Plaza with built-out exam rooms, offices, and patient waiting area.
Where is this medical office space located?
The property is located at 1 SW 129th Avenue #401 Pembroke Pines, FL.
What is the asking price?
The asking price for this property is $1,054,800.
What are key features of this property?
This property features: Upgraded top‑floor medical office condo in Centrum Plaza (built 1990); Fully built‑out layout with 8 exam rooms, X‑ray room, lab area, and reception; Includes spacious patient waiting room plus 2 private offices and a staff break room/lounge
