Medical Office with Exam
For Sale
Contact for pricing
2320 North Blvd W, Davenport, FL 33837
Configured with examination rooms, reception areas, waiting space, and a staff break room.
Property Size2,600 SF
Price / SF$380.77
Days on Market133
Property Features for 2320 North Blvd W
General Information
Standard status
Active
Size
2,600 SF
Class
B
Property subtype
Office
Zoning
PIC-NR
Additional Details
Highway Access
Yes
Building Details
Year Built
2015
Units
2
Listing Agency:
Millenia Partners
(407) 430-3462
Listed By:
Ashley Walker · License #FL SL3375578
Source:
Crexi
Added: Apr 20
Changed: Aug 29
Last Checked: Aug 29 at 2:07PM
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 Millenia Partners
Investment Insights
Based on property information with market context.
Built in 2015, this medical office is arranged for clinical and administrative operations, with private examination rooms, a physician’s office, check-in and check-out areas, a waiting room, and a staff break room. The layout is described as move-in-ready and supports use by a medical practice or professional group.
The property is located at 2320 North Blvd W in Davenport, Florida, with immediate access to US Highway 27. Traffic counts on the highway exceed 44,000 vehicles daily. AdventHealth Heart of Florida is located a few miles away. The property carries PIC-NR zoning.
The property is located at 2320 North Blvd W in Davenport, Florida, with immediate access to US Highway 27. Traffic counts on the highway exceed 44,000 vehicles daily. AdventHealth Heart of Florida is located a few miles away. The property carries PIC-NR zoning.
Key Highlights
- Private examination rooms with physician’s office
- Check‑in and check‑out areas plus waiting room
- Staff break room included in the layout
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
$32,671
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
3.30%
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%
$653,420
$653.4K
Cap Rate 7%
$466,729
$466.7K
Cap Rate 9%
$363,011
$363.0K
Market Conditions
NOI Build-Up for 2,600 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
$60.8K $23.40/SF
− Vacancy
−$6.4K −$2.46/SF
EGI
$54.5K $20.94/SF
− OpEx
−$21.8K −$8.38/SF
NOI
$32.7K $12.57/SF
Area
Polk County, FL
Vacancy
10.50%
Lease Rate
$23.40 /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%
$653,420
Cap Rate 7%
$466,729
Cap Rate 9%
$363,011
Alternative Uses
Best Use
Healthcare Medical
$466.7K
$408.4K – $544.5K
NOI $32,671 @ 7.0% cap · market cap 3.30%
Second Best
Office B
$456.3K
$399.3K – $532.4K
NOI $31,941 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$624.8K
$546.7K – $728.9K
NOI $43,736 @ 7.0% cap · market cap 4.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33837, FL
36,302
Population
19,082
Households
1.9
Avg Household Size
40
Median Age
27%
College-Educated
90%
High-School Grad
51.3 sq mi
ZIP Area
708
Density / Sq Mi
$75,861
Median Household Income
$39,246
Median Earnings
$1,739
Median Rent
$297,700
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 - Configured with examination rooms, reception areas, waiting space, and a staff break room.
Where is this medical office space located?
The property is located at 2320 North Blvd W Davenport, FL.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Private examination rooms with physician’s office; Check‑in and check‑out areas plus waiting room; Staff break room included in the layout
