Turnkey Medical Office
For Sale
Contact for pricing
734 Belvedere Road, West Palm Beach, FL 33405
Medical suite with reception, multiple exam rooms, triage/lab area, and ADA restroom for patient-ready operations.
Property Size1,544 SF
Price / SF$501.94
Days on Market125
Property Features for 734 Belvedere Road
General Information
Standard status
Active
Size
1,544 SF
Property subtype
Office
Building Details
Year Built
1955
Listing Agency:
Weichert, Realtors - True Quality Service
Listed By:
Sanz Justin · License #3614199
Source:
Crexi
Added: Apr 6
Changed: Jul 10
Last Checked: Aug 7 at 12:53AM
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 Weichert, Realtors - True Quality Service
Investment Insights
Based on property information with market context.
This professional medical suite is designed for community-based clinic use or private practice, with a layout that separates public-facing areas from exam and staff zones. The interior includes a dedicated reception and administrative area, a private executive office, and multiple examination rooms with essential medical fixtures. Durable tile flooring runs throughout, and there is ample wall space currently used for professional credentials and certifications. Clinical functionality is supported by a laboratory or triage room with an integrated sink and storage, along with an ADA-accessible restroom and additional on-site storage for medical supplies and equipment.
The suite is located at 734 Belvedere Road in West Palm Beach and benefits from a storefront entrance featuring French-style glass doors with a secure lockbox system. Interior lighting is provided by drop-ceiling fixtures, and the space includes traditional finishes.
For medical tenants, the rooming pattern supports a straightforward patient flow: reception and admin space at the front, then exam rooms and clinical support areas toward the back, with storage included on site. The configuration is well-suited to practices seeking a turnkey environment for examination and basic clinical services, without requiring a full rework of the core layout.
The suite is located at 734 Belvedere Road in West Palm Beach and benefits from a storefront entrance featuring French-style glass doors with a secure lockbox system. Interior lighting is provided by drop-ceiling fixtures, and the space includes traditional finishes.
For medical tenants, the rooming pattern supports a straightforward patient flow: reception and admin space at the front, then exam rooms and clinical support areas toward the back, with storage included on site. The configuration is well-suited to practices seeking a turnkey environment for examination and basic clinical services, without requiring a full rework of the core layout.
Key Highlights
- Medical suite built in 1955 with reception, administrative area, and multiple examination rooms
- Dedicated triage/lab room with integrated sink and storage for clinical use
- Private executive office plus extensive on‑site storage including a Storage/Private Room for supplies and equipment
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
$53,822
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
6.94%
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%
$1,076,440
$1.1M
Cap Rate 7%
$768,886
$768.9K
Cap Rate 9%
$598,022
$598.0K
Market Conditions
NOI Build-Up for 1,544 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
$85.2K $55.20/SF
− Vacancy
−$13.5K −$8.72/SF
EGI
$71.8K $46.48/SF
− OpEx
−$17.9K −$11.62/SF
NOI
$53.8K $34.86/SF
Area
West Palm Beach, FL
Vacancy
15.80%
Lease Rate
$55.20 /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%
$1,076,440
Cap Rate 7%
$768,886
Cap Rate 9%
$598,022
Alternative Uses
Best Use
Office B
$768.9K
$672.8K – $897.0K
NOI $53,822 @ 7.0% cap · market cap 6.94%
Second Best
Healthcare Medical
$308.5K
$269.9K – $359.9K
NOI $21,594 @ 7.0% cap · market cap 2.79%
Theoretical Best
Office A
$1.09M
$951.5K – $1.27M
NOI $76,116 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,160
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33405, FL
19,369
Population
9,557
Households
2
Avg Household Size
41
Median Age
34%
College-Educated
82%
High-School Grad
4.5 sq mi
ZIP Area
4,304
Density / Sq Mi
$82,945
Median Household Income
$46,450
Median Earnings
$1,432
Median Rent
$401,200
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 - Medical suite with reception, multiple exam rooms, triage/lab area, and ADA restroom for patient-ready operations.
Where is this medical office space located?
The property is located at 734 Belvedere Road West Palm Beach, FL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Medical suite built in 1955 with reception, administrative area, and multiple examination rooms; Dedicated triage/lab room with integrated sink and storage for clinical use; Private executive office plus extensive on‑site storage including a Storage/Private Room for supplies and equipment
