Current Use by Public Records
- Dr. Stephen J. Servoss, MD / Physician
- Diamond Personalized Healthcare / Medical Clinic / Weight Loss Service
- Privately Yours / Home Health Care Service
- Frederick R. Silfen, MD / Physician
- Bartzokis Thomas MD / Physician
Property Details for 1000 9Th Ct
- Year built
- 1990
- Lot size
- 2.12 lot acres
- Property type
- Office Spaces
- Property subtype
- Medical Office Space
Description
Exceptional investment opportunity: a 3,792 square foot, fully leased Class B medical office building in Boca Raton, Florida. Located just two blocks from Baptist Boca Raton Regional Hospital, this single-tenant property boasts a strong 5.50% cap rate and a substantial net operating income (NOI) of $99,000. The building, constructed in 1990, features upscale finishes, including floor-to-ceiling glass and a beautifully landscaped fountain courtyard. Currently occupied at 100% occupancy since August 11, 2023, under a triple net (NNN) lease with a remaining term of approximately 3.3 years (expiring March 2, 2028), with 5% rent bumps every two years. The property sits on a 2.12-acre lot and offers ample parking (3.6 spaces per 1,000 sq ft). While currently configured for administrative use by a home health firm, the building retains plumbing for future medical use. The asking price is $1,800,000 ($474.68 per square foot). The seller is willing to subsidize the lease to ensure a desirable return on investment. A lease buyout is possible, although the tenant is expected to remain. The property is zoned MC Medical Center. This is a stabilized investment with a single tenant and a long-term lease. Please note: The tenant should not be contacted.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Boca Raton
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.105
- Latitude
- 26.3607
