Ophthalmology Medical Center with Surgery
New
For Sale
Contact for pricing
1717 W Woolbright Rd, Boynton Beach, FL 33426
The single-tenant facility combines specialty eye care with an on-site surgical operation.
Property Size14,326 SF
Lot Size1.73 Acres
Price / SF$474.52
Days on Market5
Property Features for 1717 W Woolbright Rd
General Information
Standard status
Active
Size
14,326 SF
Lot size
1.73 Acres
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
1
Building Details
Buildings
1
Building Size
14,326 SF
Tenancy
Single
Owner Occupied
No
Listing Agency:
JLL Chicago | Americas Headquarters
Listed By:
Alex Sharrin · License #IL 475.170243
(305) 913-5545
Source:
Crexi
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 26 at 6:03AM
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 JLL Chicago | Americas Headquarters
Investment Insights
Based on property information with market context.
This 14,326-square-foot medical facility on 1.73 acres houses an ophthalmology clinic and an attached ambulatory surgery center. The surgery center has three dedicated operating rooms, a post-anesthesia recovery area, and direct access to the clinic. It is AAAHC-accredited and Medicare-certified, and has operated at this site for more than 20 years. The practice offers cataract, cornea, glaucoma, retina, LASIK, and pediatric eye care.
EyeSouth Partners occupies the property under an absolute NNN lease with 7.0 years remaining, annual increases of the lesser of 2.00% or 1.25x CPI, and four 5-year renewal options. The lease is guaranteed by EyeSouth Eye Care Holdco, LLC.
The property is at the I-95 and Woolbright Road interchange in Boynton Beach, with reported traffic of 218K VPD on I-95 and 51K VPD on Woolbright Road. Bethesda Hospital East is two miles away; Delray Medical Center and HCA Florida JFK Hospital are each within five miles.
EyeSouth Partners occupies the property under an absolute NNN lease with 7.0 years remaining, annual increases of the lesser of 2.00% or 1.25x CPI, and four 5-year renewal options. The lease is guaranteed by EyeSouth Eye Care Holdco, LLC.
The property is at the I-95 and Woolbright Road interchange in Boynton Beach, with reported traffic of 218K VPD on I-95 and 51K VPD on Woolbright Road. Bethesda Hospital East is two miles away; Delray Medical Center and HCA Florida JFK Hospital are each within five miles.
Key Highlights
- 14,326 SF facility on a 1.73‑acre parcel
- Attached ambulatory surgery center with three dedicated ophthalmic operating rooms
- AAAHC‑accredited, Medicare‑certified surgery center operating on site for more than 20 years
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
$379,711
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
5.59%
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%
$7,594,220
$7.6M
Cap Rate 7%
$5,424,443
$5.4M
Cap Rate 9%
$4,219,011
$4.2M
Market Conditions
NOI Build-Up for 14,326 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
$653.3K $45.60/SF
− Vacancy
−$147.0K −$10.26/SF
EGI
$506.3K $35.34/SF
− OpEx
−$126.6K −$8.84/SF
NOI
$379.7K $26.51/SF
Area
Palm Beach County, FL
Vacancy
22.50%
Lease Rate
$45.60 /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%
$7,594,220
Cap Rate 7%
$5,424,443
Cap Rate 9%
$4,219,011
Alternative Uses
Best Use
Office B
$5.42M
$4.75M – $6.33M
NOI $379,711 @ 7.0% cap · market cap 5.59%
Second Best
Healthcare Medical
$2.70M
$2.36M – $3.15M
NOI $188,759 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$10.09M
$8.83M – $11.77M
NOI $706,242 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
846
Businesses Nearby
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Business Placement
Demographics for 33426, FL
25,155
Population
12,500
Households
2
Avg Household Size
43
Median Age
32%
College-Educated
91%
High-School Grad
6.1 sq mi
ZIP Area
4,124
Density / Sq Mi
$76,328
Median Household Income
$43,992
Median Earnings
$1,981
Median Rent
$298,500
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical center - The single-tenant facility combines specialty eye care with an on-site surgical operation.
Where is this medical center located?
The property is located at 1717 W Woolbright Rd Boynton Beach, FL.
What is the asking price?
The asking price for this property is $6,798,000.
What are key features of this property?
This property features: 14,326 SF facility on a 1.73‑acre parcel; Attached ambulatory surgery center with three dedicated ophthalmic operating rooms; AAAHC‑accredited, Medicare‑certified surgery center operating on site for more than 20 years
