Converted Former Vet Hospital
For Sale
Contact for pricing
2630 North Young Boulevard, Chiefland, FL 32626
Former veterinary hospital building offers flexible conversion options for office, medical, or retail users.
Property Size3,017 SF
Lot Size1.26 Acres
Price / SF$165.73
Days on Market102
Property Features for 2630 North Young Boulevard
General Information
Standard status
Active
Size
3,017 SF
Lot size
1.26 Acres
Property subtype
Retail
Listing Agency:
SURMOUNT
Listed By:
Glen Kunofsky · License #NY 49KU1129178
(332) 345-4222
Source:
Crexi
Added: May 29
Changed: Sep 3
Last Checked: Sep 4 at 8:14PM
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 SURMOUNT
Investment Insights
Based on property information with market context.
The property is a former veterinary hospital that includes approximately 3,017 rentable square feet of building space on an estimated 1.26-acre parcel. The existing structure is positioned for reuse, with the opportunity to convert the space into a variety of office, medical, or retail formats.
Located at 2630 North Young Boulevard in Chiefland, Florida, the site is offered for sale as a single parcel. Its standalone building and land footprint support a straightforward redevelopment approach for an operator seeking an adaptable commercial facility.
For tenants and buyers, the key advantage is flexibility. The prior hospital configuration can be repurposed to serve office and medical needs, or reworked for retail use, depending on the desired layout and permitting outcome. This makes the property well-suited for buyers evaluating an owner-occupied or multi-purpose commercial conversion where the existing improvements provide a starting point.
Located at 2630 North Young Boulevard in Chiefland, Florida, the site is offered for sale as a single parcel. Its standalone building and land footprint support a straightforward redevelopment approach for an operator seeking an adaptable commercial facility.
For tenants and buyers, the key advantage is flexibility. The prior hospital configuration can be repurposed to serve office and medical needs, or reworked for retail use, depending on the desired layout and permitting outcome. This makes the property well-suited for buyers evaluating an owner-occupied or multi-purpose commercial conversion where the existing improvements provide a starting point.
Key Highlights
- Former veterinary hospital building at 2630 North Young Boulevard, Chiefland, FL 32626
- Approximately 3,017 rentable SF of building space
- Set on an estimated 1.26‑acre parcel
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
$37,971
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
7.59%
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%
$759,420
$759.4K
Cap Rate 7%
$542,443
$542.4K
Cap Rate 9%
$421,900
$421.9K
Market Conditions
NOI Build-Up for 3,017 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
$68.8K $22.80/SF
− Vacancy
−$5.5K −$1.82/SF
EGI
$63.3K $20.98/SF
− OpEx
−$25.3K −$8.39/SF
NOI
$38.0K $12.59/SF
Area
Levy County, FL
Vacancy
8.00%
Lease Rate
$22.80 /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%
$759,420
Cap Rate 7%
$542,443
Cap Rate 9%
$421,900
Alternative Uses
Best Use
Healthcare Medical
$542.4K
$474.6K – $632.9K
NOI $37,971 @ 7.0% cap · market cap 7.59%
Second Best
Office B
$537.6K
$470.4K – $627.2K
NOI $37,634 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$747.3K
$653.9K – $871.8K
NOI $52,308 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Explore this area
Business Placement
Demographics for 32626, FL
8,620
Population
4,358
Households
2
Avg Household Size
47
Median Age
13%
College-Educated
89%
High-School Grad
243.6 sq mi
ZIP Area
35
Density / Sq Mi
$49,643
Median Household Income
$34,057
Median Earnings
$844
Median Rent
$160,900
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 center - Former veterinary hospital building offers flexible conversion options for office, medical, or retail users.
Where is this medical center located?
The property is located at 2630 North Young Boulevard Chiefland, FL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Former veterinary hospital building at 2630 North Young Boulevard, Chiefland, FL 32626; Approximately 3,017 rentable SF of building space; Set on an estimated 1.26‑acre parcel
