Medical/Professional Building Near
For Sale
$1,600,000
2419 S Seacrest Boulevard, Boynton Beach, FL 33435
Prime medical/professional building near hospital, ideal for owner-user or investor.
Property Size2,132 SF
Lot Size0.90 Acres
Price / SF$750.47
Days on Market125
Property Features for 2419 S Seacrest Boulevard
General Information
Standard status
Active
Size
2,132 SF
Lot size
0.90 Acres
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$26,131
Building Details
Building Size
2,132 SF
Year Built
1985
Listing Agency:
Century 21 America's Choice/WPB
(561) 252-2726
Listed By:
Douglas J Rill · License #131886
(561) 252-2726
Source:
Pamandtoni
Added: Apr 21
Changed: Aug 23
Last Checked: Aug 23 at 10:57AM
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 Century 21 America's Choice/WPB
Investment Insights
Based on property information with market context.
This medical/professional building is situated on 0.9 of an acre, located blocks from a major hospital and east of I-95. The property is suitable for medical or professional office use. It features visibility and accessibility, with traffic flow and on-site parking. The building is well-maintained. The location is within a healthcare corridor. The bike score is 40, indicating it is somewhat bikeable, and the walk score is 21, indicating it is car-dependent.
Key Highlights
- Prime location near a major hospital and east of I‑95.
- Ideal for medical or professional office use.
- Situated on .9 of an acre with ample on‑site parking.
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
$56,509
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
3.53%
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%
$1,130,180
$1.1M
Cap Rate 7%
$807,271
$807.3K
Cap Rate 9%
$627,878
$627.9K
Market Conditions
NOI Build-Up for 2,132 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
$97.2K $45.60/SF
− Vacancy
−$21.9K −$10.26/SF
EGI
$75.3K $35.34/SF
− OpEx
−$18.8K −$8.84/SF
NOI
$56.5K $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%
$1,130,180
Cap Rate 7%
$807,271
Cap Rate 9%
$627,878
Alternative Uses
Best Use
Office B
$807.3K
$706.4K – $941.8K
NOI $56,509 @ 7.0% cap · market cap 3.53%
Second Best
Healthcare Medical
$401.3K
$351.1K – $468.2K
NOI $28,091 @ 7.0% cap · market cap 1.76%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $105,103 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,241
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33435, FL
37,318
Population
20,058
Households
1.9
Avg Household Size
45
Median Age
32%
College-Educated
85%
High-School Grad
6.5 sq mi
ZIP Area
5,741
Density / Sq Mi
$66,612
Median Household Income
$35,488
Median Earnings
$1,846
Median Rent
$306,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Prime medical/professional building near hospital, ideal for owner-user or investor.
Where is this medical office space located?
The property is located at 2419 S Seacrest Boulevard Boynton Beach, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Prime location near a major hospital and east of I‑95.; Ideal for medical or professional office use.; Situated on .9 of an acre with ample on‑site parking.
