Building Details

Year Built 2007

Listing Agency: SLC Commercial Realty & Development

Listed By: Tyler Raynes · License #BK3419374 Show Phone

Source: Slccommercial

Added: Jun 2 Changed: Jul 10 Last Checked: Sep 4 at 4:10AM

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Investment Insights

Based on property information with market context.

Well-located 2,818 SF medical office condo in the heart of St. Lucie West, offered as a sale-leaseback investment with an established, in-place medical practice. The space is turn-key, with high-quality construction and a modern interior finish package. A versatile configuration supports day-to-day care operations and tenant use, with the added appeal of ongoing income support through a new 5-year lease term.

The property is zoned for General Use and positioned for convenient access to major roads, with nearby amenities in the surrounding area. This combination can be helpful for maintaining patient-facing accessibility while keeping the asset oriented toward healthcare corridor demand.

For investors, the in-place tenancy and leaseback structure are designed to provide stable cash flow from day one, with the lease scheduled for renewal on a new 5-year term at market rent and annual rent increases. With NOI reported at $65,000 and an indicated 6.5% cap rate, this is a straightforward option for buyers seeking a lower-management medical asset supported by proven operations.

Key Highlights

• 2,818 SF medical office condo built in 2007 in St. Lucie West
• Offered as a sale‑leaseback with a new 5‑year leaseback term at market rent
• Includes established, in‑place medical practice with built‑in tenancy

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

$38,134

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

4.01%

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%

$762,680 $762.7K

Cap Rate 7%

$544,771 $544.8K

Cap Rate 9%

$423,711 $423.7K

Market Conditions

NOI Build-Up for 2,818 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

$71.0K $25.20/SF

− Vacancy

−$7.5K −$2.65/SF

EGI

$63.6K $22.55/SF

− OpEx

−$25.4K −$9.02/SF

NOI

$38.1K $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%

$762,680

Cap Rate 7%

$544,771

Cap Rate 9%

$423,711

Alternative Uses

Best Use

Healthcare Medical

$544.8K

$476.7K – $635.6K (±1% cap)

NOI $38,134 @ 7.0% cap · market cap 4.01%

Second Best

Office B

$508.7K

$445.1K – $593.5K (±1% cap)

NOI $35,608 @ 7.0% cap · market cap 3.75%

Theoretical Best

Office A

$708.7K

$620.1K – $826.8K (±1% cap)

NOI $49,608 @ 7.0% cap · market cap 5.22%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Peacock Dental - Mirela ... Dental Office Dr. Charles A. Buscema Physician Pioneer Pain Management ... Physician Back In Action, Saint ... Physician Psychiatry of the Palm Beaches ... Medical Clinic

Suggested Use

Top Pick Auto Parts Store (Bike/Boat/Book/etc) Store Parking Lot & Garage Food Market Grocery & Convenience Store Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,338

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 34986, FL

30,027

Population

14,600

Households

2.1

Avg Household Size

56

Median Age

35%

College-Educated

92%

High-School Grad

18.8 sq mi

ZIP Area

1,597

Density / Sq Mi

$85,842

Median Household Income

$44,182

Median Earnings

$1,600

Median Rent

$368,300

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Turn-key medical office condo with in-place practice, structured sale-leaseback for stable, predictable investor cash flow.

Where is this medical office space located?

The property is located at 266 NW Peacock Blvd Unit 204 -205 St Lucie West, FL.

What is the asking price?

The asking price for this property is $950,000.

What are key features of this property?

This property features: 2,818 SF medical office condo built in 2007 in St. Lucie West; Offered as a sale‑leaseback with a new 5‑year leaseback term at market rent; Includes established, in‑place medical practice with built‑in tenancy