Boynton Beach Medical
For Sale
Contact for pricing
650 Boynton Beach Blvd, Boynton Beach, FL 33426
Freestanding medical building near I-95, fully leased.
Property Size4,364 SF
Price / SF$572.87
Days on Market678
Property Features for 650 Boynton Beach Blvd
General Information
Standard status
Active
Size
4,364 SF
Property subtype
Office
Zoning
C 2
Lease Type
Net
Investment Type
Stabilized
Building Details
Year Built
1989
Stories
1
Units
2
Listing Agency:
The Keyes Company
Listed By:
Michelle Li · License #3543843
Source:
Crexi
Added: Sep 30, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:38AM
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 Keyes Company
Investment Insights
Based on property information with market context.
This one-story medical building contains two dental offices and is fully leased, making it suitable for investors or owner-users. The property is a freestanding building with ample parking. Its location is near I-95.
Key Highlights
- Fully Leased: Provides immediate rental income.
- Medical Building with Two Dental Offices: Specialized use potentially attracts stable tenants.
- Excellent Location Next to I‑95: Enjoy high visibility and easy accessibility.
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
4.63%
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 4.63%
Second Best
Healthcare Medical
$821.4K
$718.8K – $958.3K
NOI $57,500 @ 7.0% cap · market cap 2.30%
Theoretical Best
Office A
$3.07M
$2.69M – $3.59M
NOI $215,136 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,293
Businesses Nearby
Balanced
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- My Friendly Vet Integrative Medical Center — 222 Boynton Beach Blvd, Boynton Beach, FL 33435
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Freestanding medical building near I-95, fully leased.
Where is this medical office space located?
The property is located at 650 Boynton Beach Blvd Boynton Beach, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Fully Leased: Provides immediate rental income.; Medical Building with Two Dental Offices: Specialized use potentially attracts stable tenants.; Excellent Location Next to I‑95: Enjoy high visibility and easy accessibility.
