Medical Office Space For
For Sale
Contact for pricing
13832 US-1, Sebastian, FL 32958
Medical office space for sale near Sebastian River Medical Center.
Property Size980 SF
Price / SF$267.86
Days on Market747
Property Features for 13832 US-1
General Information
Standard status
Active
Size
980 SF
Class
B
Total Parking Spaces
81
Property subtype
Office
Zoning
Indian River County Limited Commercial District (CL)
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Building Details
Year Built
1988
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
The Ullian Realty Corporation
Listed By:
Zach Ullian
Source:
Crexi
Added: Aug 15, 2024
Changed: Aug 21
Last Checked: Aug 29 at 2:56PM
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 The Ullian Realty Corporation
Investment Insights
Based on property information with market context.
This 980-square-foot commercial real estate property is located at the northern boundary of Indian River County, strategically positioned directly across from the Sebastian River Medical Center. The property benefits from convenient US1 frontage, providing easy access to Brevard County, Wabasso Causeway, and Vero Beach. It features a reception/waiting room, four plumbed exam rooms, one office, a lab, and two restrooms. The interior includes a mix of carpet and tile flooring, along with a drop ceiling throughout. A new HVAC unit was installed in 2020. There are 81 paved, striped, and lighted concrete common parking spaces available at the plaza. The estimated 2026 association dues are $2,180.96 per quarter. City water and sewer are included in the association dues, while FPL electric is paid by the tenant. The property is adjacent to a variety of medical practices. The landlord collects $2,469.24 per month, with a 3% annual rent escalator. The current lease term expires on August 7, 2028. The landlord pays base year taxes, while the tenant pays property tax increases and interior contents insurance, as well as interior upkeep and maintenance. The landlord covers HVAC costs above $250 per service call.
Key Highlights
- Strategically located directly across from Sebastian River Medical Center and adjacent to other medical practices.
- Four plumbed exam rooms, lab, office, reception/waiting room, and two restrooms.
- Convenient US1 frontage provides easy access to Brevard County, Wabasso Causeway & Vero Beach.
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
$13,336
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
5.08%
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%
$266,720
$266.7K
Cap Rate 7%
$190,514
$190.5K
Cap Rate 9%
$148,178
$148.2K
Market Conditions
NOI Build-Up for 980 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
$21.2K $21.60/SF
− Vacancy
−$3.4K −$3.46/SF
EGI
$17.8K $18.14/SF
− OpEx
−$4.4K −$4.54/SF
NOI
$13.3K $13.61/SF
Area
Brevard County, FL
Vacancy
16.00%
Lease Rate
$21.60 /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%
$266,720
Cap Rate 7%
$190,514
Cap Rate 9%
$148,178
Alternative Uses
Best Use
Office B
$190.5K
$166.7K – $222.3K
NOI $13,336 @ 7.0% cap · market cap 5.08%
Second Best
Healthcare Medical
$176.2K
$154.2K – $205.6K
NOI $12,334 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$258.6K
$226.2K – $301.7K
NOI $18,099 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32958, FL
28,619
Population
15,512
Households
1.8
Avg Household Size
58
Median Age
29%
College-Educated
92%
High-School Grad
27.9 sq mi
ZIP Area
1,026
Density / Sq Mi
$68,276
Median Household Income
$37,412
Median Earnings
$1,388
Median Rent
$279,100
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 office space for sale near Sebastian River Medical Center.
Where is this medical office space located?
The property is located at 13832 US-1 Sebastian, FL.
What is the asking price?
The asking price for this property is $262,500.
What are key features of this property?
This property features: Strategically located directly across from Sebastian River Medical Center and adjacent to other medical practices.; Four plumbed exam rooms, lab, office, reception/waiting room, and two restrooms.; Convenient US1 frontage provides easy access to Brevard County, Wabasso Causeway & Vero Beach.
