Freestanding Medical Office
For Sale
$625,000
1912 Nebraska Avenue, Fort Pierce, FL 34950
Purpose-built outpatient layout with exam rooms, administrative areas, physician amenities, and dedicated patient parking.
Property Size2,100 SF
Price / SF$297.62
Days on Market330
Property Features for 1912 Nebraska Avenue
General Information
Standard status
Active
Size
2,100 SF
Total Parking Spaces
10
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,487
Amenities
Central air
Carpet Flooring
Central Air Cooling
Central Heating
Composition Roof
Linoleum Flooring
Phases3
Building Details
Year Built
1983
Buildings
1
Building Size
2,100 SF
Listing Agency:
COLDWELL BANKER PARADISE
Listed By:
THOMAS ROUSE · License #R11136378
(772) 201-5902
Source:
Corcoran
Added: Oct 30, 2025
Changed: Sep 24
Last Checked: Sep 24 at 11:46AM
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 COLDWELL BANKER PARADISE
Investment Insights
Based on property information with market context.
This freestanding medical office building contains 2,100 square feet and was built in 1983. The interior includes 3 exam rooms, 4 bathrooms, a waiting room, 2 offices, reception space, workstations, storage, an employee break room, and a separate doctors’ break room. The physician’s office includes a full bathroom with a shower.
The property provides 9 parking spaces, a circular driveway for patient drop-off, and a private carport for the doctor. The air-conditioning system was replaced on 12/28/21, and the exterior was recently painted. Lawnwood Medical Center is located less than 500 feet away and includes a Heart Institute, Level III Trauma Center, Stroke Center, and Level III Neonatal Intensive Care Unit.
The property provides 9 parking spaces, a circular driveway for patient drop-off, and a private carport for the doctor. The air-conditioning system was replaced on 12/28/21, and the exterior was recently painted. Lawnwood Medical Center is located less than 500 feet away and includes a Heart Institute, Level III Trauma Center, Stroke Center, and Level III Neonatal Intensive Care Unit.
Key Highlights
- 2,100‑square‑foot freestanding medical office building
- 3 exam rooms and 4 bathrooms, including a physician’s full bath with shower
- Waiting room, reception office, 2 private offices, workstations, and storage
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
$28,418
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
4.55%
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%
$568,360
$568.4K
Cap Rate 7%
$405,971
$406.0K
Cap Rate 9%
$315,756
$315.8K
Market Conditions
NOI Build-Up for 2,100 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
$52.9K $25.20/SF
− Vacancy
−$5.6K −$2.65/SF
EGI
$47.4K $22.55/SF
− OpEx
−$18.9K −$9.02/SF
NOI
$28.4K $13.53/SF
Area
St. Lucie 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%
$568,360
Cap Rate 7%
$405,971
Cap Rate 9%
$315,756
Alternative Uses
Best Use
Healthcare Medical
$406.0K
$355.2K – $473.6K
NOI $28,418 @ 7.0% cap · market cap 4.55%
Second Best
Office B
$379.1K
$331.7K – $442.3K
NOI $26,536 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$528.1K
$462.1K – $616.1K
NOI $36,968 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,056
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34950, FL
16,582
Population
8,055
Households
2.1
Avg Household Size
37
Median Age
14%
College-Educated
64%
High-School Grad
5.2 sq mi
ZIP Area
3,189
Density / Sq Mi
$32,707
Median Household Income
$29,214
Median Earnings
$1,121
Median Rent
$175,900
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 - Purpose-built outpatient layout with exam rooms, administrative areas, physician amenities, and dedicated patient parking.
Where is this medical office space located?
The property is located at 1912 Nebraska Avenue Fort Pierce, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2,100‑square‑foot freestanding medical office building; 3 exam rooms and 4 bathrooms, including a physician’s full bath with shower; Waiting room, reception office, 2 private offices, workstations, and storage
