Medical Office with Open
For Sale
$525,000
1710 36th Street, Vero Beach, FL 32960
Concrete block construction includes a dedicated restroom, private office, and on-site parking for daily operations.
Property Size1,750 SF
Price / SF$300
Days on Market109
Property Features for 1710 36th Street
General Information
Standard status
Active
Size
1,750 SF
Property subtype
Industrial
Amenities
Private Restroom
Private Office
Central Air
3
Other
Other.
Building Details
Year Built
2005
Stories
1
Construction
concrete block
Listing Agency:
(772) 778-2334
Listed By:
Lambert Commercial Real Estate
(772) 532-1165
Source:
Xome
Added: May 19
Changed: Sep 2
Last Checked: Sep 4 at 4:15AM
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 Lambert Commercial Real Estate
Investment Insights
Based on property information with market context.
This medical office space was built in 2005 with concrete block construction and a concrete tile roof. The interior provides an open configuration, one private office, and a private restroom, creating a practical layout for professional occupancy. The property is identified for potential medical-related uses, including a medical lab, home health care, or specialty physician practice.
Located at 1710 36th St in Vero Beach, Florida, the building includes 10 available parking spaces. Walk Score is 47, classified as car-dependent, while Bike Score is 51, classified as bikeable.
Located at 1710 36th St in Vero Beach, Florida, the building includes 10 available parking spaces. Walk Score is 47, classified as car-dependent, while Bike Score is 51, classified as bikeable.
Key Highlights
- Medical office space with open interior layout
- Concrete block building with concrete tile roof
- One private office and dedicated restroom
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
$23,682
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
4.51%
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%
$473,640
$473.6K
Cap Rate 7%
$338,314
$338.3K
Cap Rate 9%
$263,133
$263.1K
Market Conditions
NOI Build-Up for 1,750 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
$44.1K $25.20/SF
− Vacancy
−$4.6K −$2.65/SF
EGI
$39.5K $22.55/SF
− OpEx
−$15.8K −$9.02/SF
NOI
$23.7K $13.53/SF
Area
Indian River County, FL
Vacancy
10.50%
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%
$473,640
Cap Rate 7%
$338,314
Cap Rate 9%
$263,133
Alternative Uses
Best Use
Healthcare Medical
$338.3K
$296.0K – $394.7K
NOI $23,682 @ 7.0% cap · market cap 4.51%
Second Best
Office B
$267.5K
$234.1K – $312.1K
NOI $18,727 @ 7.0% cap · market cap 3.57%
Theoretical Best
Specialty Retail
$383.8K
$335.8K – $447.8K
NOI $26,865 @ 7.0% cap · market cap 5.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,180
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32960, FL
21,522
Population
11,590
Households
1.9
Avg Household Size
48
Median Age
25%
College-Educated
90%
High-School Grad
11.1 sq mi
ZIP Area
1,939
Density / Sq Mi
$52,350
Median Household Income
$30,236
Median Earnings
$1,171
Median Rent
$254,400
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 - Concrete block construction includes a dedicated restroom, private office, and on-site parking for daily operations.
Where is this medical office space located?
The property is located at 1710 36th Street Vero Beach, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Medical office space with open interior layout; Concrete block building with concrete tile roof; One private office and dedicated restroom
