Second-Floor Medical Office
For Sale
$1,200,000
2900 Military Trail, Boca Raton, FL 33431
Second-floor medical office in an elevator building with six patient rooms, dedicated lab, and multiple office and support areas.
Property Size2,500 SF
Price / SF$480
Days on Market537
Property Features for 2900 Military Trail
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$14,721
Amenities
3
Corner Lot.
Corner.
Building Details
Year Built
1985
Stories
2
Listing Agency:
Compass Florida LLC
(561) 285-4283
Listed By:
Kevin West · License #B26039634
(561) 674-6555
Source:
Xome
Added: Mar 15, 2025
Changed: Sep 2
Last Checked: Sep 1 at 4:27PM
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 Compass Florida LLC
Investment Insights
Based on property information with market context.
Second-floor medical office suite within an elevator building, designed for efficient patient flow and day-to-day operations. The space includes six patient rooms, two offices, a dedicated lab, and an organized reception area with a welcoming waiting room. Additional support space includes a back office with four workstations, along with a kitchen and two bathrooms.
Located at 2900 N Military Trail, just north of Glades Road, the suite benefits from convenient access and plenty of parking for patients and staff.
The layout combines front-of-house reception and waiting space with treatment and work areas, making it well suited for medical practices seeking a ready-to-operate office configuration.
Located at 2900 N Military Trail, just north of Glades Road, the suite benefits from convenient access and plenty of parking for patients and staff.
The layout combines front-of-house reception and waiting space with treatment and work areas, making it well suited for medical practices seeking a ready-to-operate office configuration.
Key Highlights
- 2,500 sq ft medical office on the second floor of an elevator building
- Includes six patient rooms, a dedicated lab, reception area, and waiting room
- Back office includes four workstations, plus two additional offices and a kitchen
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
$66,263
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
5.52%
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%
$1,325,260
$1.3M
Cap Rate 7%
$946,614
$946.6K
Cap Rate 9%
$736,256
$736.3K
Market Conditions
NOI Build-Up for 2,500 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
$114.0K $45.60/SF
− Vacancy
−$25.7K −$10.26/SF
EGI
$88.4K $35.34/SF
− OpEx
−$22.1K −$8.84/SF
NOI
$66.3K $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%
$1,325,260
Cap Rate 7%
$946,614
Cap Rate 9%
$736,256
Alternative Uses
Best Use
Office B
$946.6K
$828.3K – $1.10M
NOI $66,263 @ 7.0% cap · market cap 5.52%
Second Best
Healthcare Medical
$470.6K
$411.8K – $549.0K
NOI $32,940 @ 7.0% cap · market cap 2.74%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,245 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,247
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33431, FL
22,047
Population
9,005
Households
2.4
Avg Household Size
33
Median Age
58%
College-Educated
94%
High-School Grad
8.3 sq mi
ZIP Area
2,656
Density / Sq Mi
$103,252
Median Household Income
$23,794
Median Earnings
$2,361
Median Rent
$575,700
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 - Second-floor medical office in an elevator building with six patient rooms, dedicated lab, and multiple office and support areas.
Where is this medical office space located?
The property is located at 2900 Military Trail Boca Raton, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 2,500 sq ft medical office on the second floor of an elevator building; Includes six patient rooms, a dedicated lab, reception area, and waiting room; Back office includes four workstations, plus two additional offices and a kitchen
