Medical and Community Service
For Sale
$3,000,000
3405 Northwest Federal Highway Jensen, Jensen Beach, FL 34957
Fully leased center with stable tenants and future rent growth.
Property Size14,265 SF
Days on Market123
Property Features for 3405 Northwest Federal Highway Jensen
General Information
Standard status
Active
Size
14,265 SF
Class
B
Property subtype
Multi Tenant Office
Building Details
Building Size
14,265 SF
Year Built
1980
Listing Agency:
Remax Commercial
(772) 323-7037
Listed By:
Rosi Shepard · License #3320083
(772) 323-7037
Source:
Thebrokerlist
Added: Apr 24
Changed: Aug 23
Last Checked: Aug 24 at 3:13AM
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 Remax Commercial
Investment Insights
Based on property information with market context.
This fully leased property houses stable medical and community-service tenants. Two tenants with leases due in 2025 are currently month-to-month, presenting an opportunity for a new owner to increase rents closer to market rates in the coming years. The property delivers an in-place return of roughly 7.1%, offering both current income and potential for future rent growth. The property is priced below current construction costs for similar properties and is competitive with other retail-medical properties recently sold in the area. Recent sales of similar centers in Jensen Beach and Port St. Lucie have ranged from approximately $230 to $265 per square foot, with buyer returns in the mid-5% to low-7% range. The property is bikeable with a bike score of 50 and car-dependent with a walk score of 40.
Key Highlights
- Fully leased to stable medical and community‑service tenants, providing immediate income.
- In‑place return of approximately 7.1% at the asking price.
- Opportunity to increase rents in the near future as two tenants are currently month‑to‑month.
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
$262,329
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
8.74%
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%
$5,246,580
$5.2M
Cap Rate 7%
$3,747,557
$3.7M
Cap Rate 9%
$2,914,767
$2.9M
Market Conditions
NOI Build-Up for 14,265 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
$385.2K $27.00/SF
− Vacancy
−$10.4K −$0.73/SF
EGI
$374.8K $26.27/SF
− OpEx
−$112.4K −$7.88/SF
NOI
$262.3K $18.39/SF
Area
Martin County, FL
Vacancy
2.70%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$5,246,580
Cap Rate 7%
$3,747,557
Cap Rate 9%
$2,914,767
Alternative Uses
Best Use
Retail
$3.75M
$3.28M – $4.37M
NOI $262,329 @ 7.0% cap · market cap 8.74%
Second Best
Healthcare Medical
$2.79M
$2.44M – $3.25M
NOI $195,197 @ 7.0% cap · market cap 6.51%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
722
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34957, FL
22,955
Population
17,269
Households
1.3
Avg Household Size
59
Median Age
39%
College-Educated
94%
High-School Grad
16.4 sq mi
ZIP Area
1,400
Density / Sq Mi
$65,658
Median Household Income
$41,973
Median Earnings
$1,518
Median Rent
$378,500
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.
Similar Off Market Nearby
- Sunglass Hut — 3308 NW Federal Hwy, Jensen Beach, FL 34957
- Treasure Coast Commons — 2901 NW Federal Hwy, Jensen Beach, FL 34957
- Allure Design - Leggings / Sunglasses — 3174 NW Federal Hwy, Stuart, FL 34994
- The Hobby Box, Pokémon and Sports Cards Vending Machine @treasurecoast — 3174 NW Federal Hwy, Jensen Beach, FL 34957
- Treasure Coast Square — 3174 NW Federal Hwy, Jensen Beach, FL 34957
Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased center with stable tenants and future rent growth.
Where is this shopping center located?
The property is located at 3405 Northwest Federal Highway Jensen Jensen Beach, FL.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Fully leased to stable medical and community‑service tenants, providing immediate income.; In‑place return of approximately 7.1% at the asking price.; Opportunity to increase rents in the near future as two tenants are currently month‑to‑month.
