Boca Raton Medical Condos
For Sale
Contact for pricing
2900 N Military Trl, Boca Raton, FL 33431
Two medical condos in Boca Raton with long-term leases.
Property Size3,503 SF
Price / SF$542.39
Days on Market786
Property Features for 2900 N Military Trl
General Information
Standard status
Active
Size
3,503 SF
Class
B
Total Parking Spaces
332
Property subtype
Office
Zoning
PO&I, Boca Raton
Occupancy
50%
Investment Type
Sale/Leaseback
Building Details
Year Built
1985
Year Renovated
2025
Stories
2
Units
246247
Tenancy
Single
Listing Agency:
American Realty Network LLC
Listed By:
Eric Nur · License #FL 324986
(561) 702-3795
Source:
Crexi
Added: Sep 11, 2024
Changed: Oct 26
Last Checked: Nov 4 at 1:51PM
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 American Realty Network LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property features two medical condos located on Military Trail in Boca Raton. The property offers a prime investment opportunity with a 7.24% cap rate and no landlord responsibilities under the current true triple-net lease agreement. The property is currently occupied by two medical tenants operating in two suites. The lease commenced in December 2020 and has 6 years remaining.
Key Highlights
- True Triple‑Net Lease: Enjoy a hands‑off investment.
- Attractive 7.24% Cap Rate: Provides a strong return.
- Stable Income Stream: Leased to two medical tenants.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,847
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,856,940
$1.9M
Cap Rate 7%
$1,326,386
$1.3M
Cap Rate 9%
$1,031,633
$1.0M
Market Conditions
NOI Build-Up for 3,503 SF
Gross rent
$159.7K $45.60/SF
− Vacancy
−$35.9K −$10.26/SF
EGI
$123.8K $35.34/SF
− OpEx
−$30.9K −$8.84/SF
NOI
$92.8K $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 Rate 5%
$1,856,940
Cap Rate 7%
$1,326,386
Cap Rate 9%
$1,031,633
Alternative Uses
Best Use
Office B
$1.33M
$1.16M – $1.55M
NOI $92,847 @ 7.0% cap · market cap 4.89%
Second Best
Healthcare Medical
$659.4K
$577.0K – $769.3K
NOI $46,156 @ 7.0% cap · market cap 2.43%
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,691 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two medical condos in Boca Raton with long-term leases.
Where is this medical office space located?
The property is located at 2900 N Military Trl Boca Raton, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: True Triple‑Net Lease: Enjoy a hands‑off investment.; Attractive 7.24% Cap Rate: Provides a strong return.; Stable Income Stream: Leased to two medical tenants.
