Turnkey Second-Floor Medical
For Sale
$274,900
Pending
900 SE Ocean #B212, Stuart, FL 34994
Second-floor office suite with three private offices, reception area, private restroom, and kitchenette in Building B.
Property Size985 SF
Days on Market157
Property Features for 900 SE Ocean #B212
General Information
Standard status
Pending
Size
985 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,856
Amenities
Central air
Ceiling Fans Cooling
Central Air Cooling
Central Heating
Tile Roof
Building Details
Year Built
1982
Listing Agency:
SPELL REALTY GROUP
Listed By:
TRAVIS BROOKE SPELL · License #B26008062
(561) 994-2334
Source:
Corcoran
Added: Apr 2
Changed: Aug 11
Last Checked: Sep 5 at 5:20AM
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 SPELL REALTY GROUP
Investment Insights
Based on property information with market context.
Turnkey second-floor office unit in Building B of the Stuart Professional Center. The space is positioned near the elevator and stairwell and includes a reception/lobby area, three private offices, a private restroom, and a kitchenette.
The professional complex has undergone recent association-level restoration work, including a new roof, concrete restoration, elevator modernization, new railings, exterior paint, and waterproofing. New irrigation and landscaping are scheduled to be added within two months.
This suite is presented for sale, with an assumable special assessment/loan or the ability to satisfy at closing.
The professional complex has undergone recent association-level restoration work, including a new roof, concrete restoration, elevator modernization, new railings, exterior paint, and waterproofing. New irrigation and landscaping are scheduled to be added within two months.
This suite is presented for sale, with an assumable special assessment/loan or the ability to satisfy at closing.
Key Highlights
- Turnkey 985 SF second‑floor office unit in Building B at Stuart Professional Center
- Layout includes 3 private offices, reception/lobby area, private restroom, and kitchenette
- Association restoration completed: new roof, concrete restoration, elevator modernization, new railings, exterior paint, and waterproofing
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
$13,478
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
4.90%
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%
$269,560
$269.6K
Cap Rate 7%
$192,543
$192.5K
Cap Rate 9%
$149,756
$149.8K
Market Conditions
NOI Build-Up for 985 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
$24.8K $25.20/SF
− Vacancy
−$2.4K −$2.39/SF
EGI
$22.5K $22.81/SF
− OpEx
−$9.0K −$9.12/SF
NOI
$13.5K $13.68/SF
Area
Martin County, FL
Vacancy
9.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
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%
$269,560
Cap Rate 7%
$192,543
Cap Rate 9%
$149,756
Alternative Uses
Best Use
Healthcare Medical
$192.5K
$168.5K – $224.6K
NOI $13,478 @ 7.0% cap · market cap 4.90%
Second Best
Office B
$177.8K
$155.6K – $207.4K
NOI $12,446 @ 7.0% cap · market cap 4.53%
Theoretical Best
Retail
$258.8K
$226.4K – $301.9K
NOI $18,114 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,140
Businesses Nearby
Explore this area
Business Placement
Demographics for 34994, FL
17,843
Population
10,086
Households
1.8
Avg Household Size
51
Median Age
36%
College-Educated
92%
High-School Grad
6.7 sq mi
ZIP Area
2,663
Density / Sq Mi
$62,895
Median Household Income
$33,547
Median Earnings
$1,558
Median Rent
$248,900
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?
Office units - Second-floor office suite with three private offices, reception area, private restroom, and kitchenette in Building B.
Where is this office units located?
The property is located at 900 SE Ocean #B212 Stuart, FL.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Turnkey 985 SF second‑floor office unit in Building B at Stuart Professional Center; Layout includes 3 private offices, reception/lobby area, private restroom, and kitchenette; Association restoration completed: new roof, concrete restoration, elevator modernization, new railings, exterior paint, and waterproofing
