Remodeled Medical Office
For Sale
$875,000
1490 S Military Trail, West Palm Beach, FL 33415
Turnkey office suite with a reception area and kitchen area, upgraded flooring, and remodeled offices.
Property Size4,500 SF
Days on Market146
Property Features for 1490 S Military Trail
General Information
Standard status
Active
Size
4,500 SF
Total Parking Spaces
250
Property subtype
Business Opportunity
Zoning
UI
Taxes and HOA fees
Annual Taxes
$39,425
Amenities
CommonLounge, ExteriorLighting, KitchenFacilities, Office, PublicRestrooms, Restaurant
Central Air, Other
Central
Other
Common
Building Details
Building Size
4,500 SF
Year Built
1978
Stories
1
Listing Agency:
Golden Sands S. Florida Realty
Listed By:
Donna Galloway · License #522949
(954) 588-1207
Source:
Evrealestate
Added: Apr 12
Changed: Sep 2
Last Checked: Sep 2 at 4:29PM
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 Golden Sands S. Florida Realty
Investment Insights
Based on property information with market context.
This remodeled office suite is designed for professional use and includes a reception area and a kitchen area, along with upgraded flooring and multiple remodeled offices. The space is described as already updated and ready for immediate business use.
The property is positioned with heavy daily vehicle traffic, and the area is characterized as car-dependent based on the provided walk/bike scores.
In addition to the interior improvements, the remarks state that expenses include water, sewer, garbage, and real estate taxes.
The property is positioned with heavy daily vehicle traffic, and the area is characterized as car-dependent based on the provided walk/bike scores.
In addition to the interior improvements, the remarks state that expenses include water, sewer, garbage, and real estate taxes.
Key Highlights
- Office suite built in 1978, currently upgraded and remodeled for immediate use
- Includes a reception area and kitchen area
- Remodeled offices with upgraded flooring
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
$62,937
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
7.19%
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%
$1,258,740
$1.3M
Cap Rate 7%
$899,100
$899.1K
Cap Rate 9%
$699,300
$699.3K
Market Conditions
NOI Build-Up for 4,500 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
$113.4K $25.20/SF
− Vacancy
−$8.5K −$1.89/SF
EGI
$104.9K $23.31/SF
− OpEx
−$42.0K −$9.32/SF
NOI
$62.9K $13.99/SF
Area
West Palm Beach, FL
Vacancy
7.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
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%
$1,258,740
Cap Rate 7%
$899,100
Cap Rate 9%
$699,300
Alternative Uses
Best Use
Office B
$2.24M
$1.96M – $2.61M
NOI $156,865 @ 7.0% cap · market cap 17.93%
Second Best
Healthcare Medical
$899.1K
$786.7K – $1.05M
NOI $62,937 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$3.17M
$2.77M – $3.70M
NOI $221,841 @ 7.0% cap · market cap 25.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,112
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33415, FL
51,251
Population
20,364
Households
2.5
Avg Household Size
37
Median Age
19%
College-Educated
77%
High-School Grad
7.3 sq mi
ZIP Area
7,021
Density / Sq Mi
$57,199
Median Household Income
$35,146
Median Earnings
$1,597
Median Rent
$220,800
Median Home Value
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Turnkey office suite with a reception area and kitchen area, upgraded flooring, and remodeled offices.
Where is this medical office space located?
The property is located at 1490 S Military Trail West Palm Beach, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Office suite built in 1978, currently upgraded and remodeled for immediate use; Includes a reception area and kitchen area; Remodeled offices with upgraded flooring
