Remodeled Medical Office
For Sale
$720,000
1490 S Military Trl, West Palm Beach, FL 33415
Turnkey office suite with a reception area and kitchen area, upgraded flooring, and remodeled offices.
Property Size4,500 SF
Price / SF$160
Days on Market96
Property Features for 1490 S Military Trl
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Business Opportunity
Building Details
Year Built
1978
Listing Agency:
Golden Sands S. Florida Realty
Listed By:
Donna Galloway · License #522949
(954) 588-1207
Source:
Thepennteam
Added: Jul 9
Changed: Sep 10
Last Checked: Oct 7 at 1:18PM
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 / Yr
$62,937
Cap Rate
8.74%
Suggested Prices Based on Cap Rates
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
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 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 21.79%
Second Best
Healthcare Medical
$899.1K
$786.7K – $1.05M
NOI $62,937 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$3.17M
$2.77M – $3.70M
NOI $221,841 @ 7.0% cap · market cap 30.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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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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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 Trl West Palm Beach, FL.
What is the asking price?
The asking price for this property is $720,000.
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
