Single-Story Medical Office
For Sale
Contact for pricing
650 W Boynton Beach Blvd, Boynton Beach, FL 33426
1989-built single-story medical office building on a C2 zoned site with frontage along West Boynton Beach Boulevard.
Property Size4,364 SF
Lot Size0.56 Acres
Price / SF$527.04
Days on Market154
Property Features for 650 W Boynton Beach Blvd
General Information
Standard status
Active
Size
4,364 SF
Class
B
Lot size
0.56 Acres
Property subtype
Office
Zoning
C2
Occupancy
100%
Lease Type
NNN
Net Operating Income
$126,324
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1989
Stories
1
Tenancy
Multi
Listing Agency:
Vera Realty LLC
Listed By:
Nick Polyushkin · License #3453486
(305) 833-3303
Source:
Crexi
Added: Apr 6
Changed: Sep 3
Last Checked: Sep 2 at 7:57PM
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 Vera Realty LLC
Investment Insights
Based on property information with market context.
This single-story medical office building was constructed in 1989 and includes approximately 4,364 square feet of functional medical office space. The property sits on a 0.56-acre parcel and offers a layout well-suited for healthcare providers or professional office uses, with opportunities to renovate, re-tenant, or reposition for future performance.
The site is positioned along West Boynton Beach Boulevard and benefits from strong visibility and accessibility, including convenient connectivity to Interstate 95. The surrounding area features a mix of retail centers with national tenants, restaurants, and dense residential communities, supporting ongoing demand for medical and service-oriented uses.
Zoned C2 (General Commercial), the property provides flexibility for a wide range of commercial uses. For an owner-user or investor, the combination of in-place usability, prominent corridor exposure, and zoning flexibility supports a value-add and long-term control strategy.
The site is positioned along West Boynton Beach Boulevard and benefits from strong visibility and accessibility, including convenient connectivity to Interstate 95. The surrounding area features a mix of retail centers with national tenants, restaurants, and dense residential communities, supporting ongoing demand for medical and service-oriented uses.
Zoned C2 (General Commercial), the property provides flexibility for a wide range of commercial uses. For an owner-user or investor, the combination of in-place usability, prominent corridor exposure, and zoning flexibility supports a value-add and long-term control strategy.
Key Highlights
- 1989‑built single‑story medical office building on a 0.56‑acre parcel
- Approximately 4,364 SF of medical office space with a functional layout for healthcare or professional services
- Frontage on W Boynton Beach Blvd along a highly trafficked corridor
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
$115,668
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
5.03%
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%
$2,313,360
$2.3M
Cap Rate 7%
$1,652,400
$1.7M
Cap Rate 9%
$1,285,200
$1.3M
Market Conditions
NOI Build-Up for 4,364 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
$199.0K $45.60/SF
− Vacancy
−$44.8K −$10.26/SF
EGI
$154.2K $35.34/SF
− OpEx
−$38.6K −$8.84/SF
NOI
$115.7K $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%
$2,313,360
Cap Rate 7%
$1,652,400
Cap Rate 9%
$1,285,200
Alternative Uses
Best Use
Office B
$1.65M
$1.45M – $1.93M
NOI $115,668 @ 7.0% cap · market cap 5.03%
Second Best
Healthcare Medical
$821.4K
$718.8K – $958.3K
NOI $57,500 @ 7.0% cap · market cap 2.50%
Theoretical Best
Office A
$3.07M
$2.69M – $3.59M
NOI $215,136 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
744
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33426, FL
25,155
Population
12,500
Households
2
Avg Household Size
43
Median Age
32%
College-Educated
91%
High-School Grad
6.1 sq mi
ZIP Area
4,124
Density / Sq Mi
$76,328
Median Household Income
$43,992
Median Earnings
$1,981
Median Rent
$298,500
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 - 1989-built single-story medical office building on a C2 zoned site with frontage along West Boynton Beach Boulevard.
Where is this medical office space located?
The property is located at 650 W Boynton Beach Blvd Boynton Beach, FL.
What is the asking price?
The asking price for this property is $2,299,999.
What are key features of this property?
This property features: 1989‑built single‑story medical office building on a 0.56‑acre parcel; Approximately 4,364 SF of medical office space with a functional layout for healthcare or professional services; Frontage on W Boynton Beach Blvd along a highly trafficked corridor
