Medical Office Surgical
For Sale
$399,900
1501 Presidential Way, West Palm Beach, FL 33401
Former surgical center space with a patient lobby, recovery area for 3+ beds, and a dedicated surgery room.
Property Size1,156 SF
Price / SF$345.93
Days on Market104
Property Features for 1501 Presidential Way
General Information
Standard status
Active
Size
1,156 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$4,531
Amenities
3
9 Parking Spaces.
Building Details
Year Built
1979
Listing Agency:
(609) 937-0123
Listed By:
Premier Listings
(609) 937-0123
Source:
Xome
Added: Apr 30
Changed: Aug 8
Last Checked: Aug 11 at 5:41AM
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 Premier Listings
Investment Insights
Based on property information with market context.
This medical/commercial unit was formerly used as a surgical center and is arranged with a formal patient lobby. Interior improvements include a recovery area with space for 3+ beds and a dedicated surgery room, along with a staff break area and private and patient restroom rooms.
The property is located at 1501 Presidential Way Unit 9 in West Palm Beach, within walking distance to dining, shopping, and banking, including Palm Beach Tanger Outlets. It is also described as just minutes from Downtown West Palm Beach, the courthouse, Palm Beach International Airport, and major hospitals including Good Samaritan, St. Mary’s, and HCA JFK North.
The listing notes 2025 tax for Unit 9 of $4,530.54 and annual HOA dues of $9,743.00.
The property is located at 1501 Presidential Way Unit 9 in West Palm Beach, within walking distance to dining, shopping, and banking, including Palm Beach Tanger Outlets. It is also described as just minutes from Downtown West Palm Beach, the courthouse, Palm Beach International Airport, and major hospitals including Good Samaritan, St. Mary’s, and HCA JFK North.
The listing notes 2025 tax for Unit 9 of $4,530.54 and annual HOA dues of $9,743.00.
Key Highlights
- Former surgical center space with a formal patient lobby and a dedicated surgery room
- Recovery area with space for 3+ beds, plus staff break area
- Includes private and patient rest rooms
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
$16,168
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
4.04%
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%
$323,360
$323.4K
Cap Rate 7%
$230,971
$231.0K
Cap Rate 9%
$179,644
$179.6K
Market Conditions
NOI Build-Up for 1,156 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
$29.1K $25.20/SF
− Vacancy
−$2.2K −$1.89/SF
EGI
$26.9K $23.31/SF
− OpEx
−$10.8K −$9.32/SF
NOI
$16.2K $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%
$323,360
Cap Rate 7%
$230,971
Cap Rate 9%
$179,644
Alternative Uses
Best Use
Office B
$575.7K
$503.7K – $671.6K
NOI $40,297 @ 7.0% cap · market cap 10.08%
Second Best
Healthcare Medical
$231.0K
$202.1K – $269.5K
NOI $16,168 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$814.1K
$712.4K – $949.8K
NOI $56,988 @ 7.0% cap · market cap 14.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,635
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33401, FL
31,302
Population
19,051
Households
1.6
Avg Household Size
40
Median Age
42%
College-Educated
89%
High-School Grad
5.1 sq mi
ZIP Area
6,138
Density / Sq Mi
$60,942
Median Household Income
$39,932
Median Earnings
$1,774
Median Rent
$430,900
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 - Former surgical center space with a patient lobby, recovery area for 3+ beds, and a dedicated surgery room.
Where is this medical office space located?
The property is located at 1501 Presidential Way West Palm Beach, FL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Former surgical center space with a formal patient lobby and a dedicated surgery room; Recovery area with space for 3+ beds, plus staff break area; Includes private and patient rest rooms
