Mixed-Use Property with Covered
For Sale
$605,000
101 Palm Harbor Parkway, Palm Coast, FL 32137
Commercial Sale, Palm Coast, FL
Property Size1,805 SF
Lot Size0.02 Acres
Price / SF$335.18
Days on Market166
Property Features for 101 Palm Harbor Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Assigned
Lot features
Irregular Lot
Directions
Head southeast on I-95 S, take Exit 289 toward Palm Coast, keep left at the fork following signs for Palm Coast Parkway E/Florida A1A, turn onto Palm Coast Pkwy SE, continue to Palm Harbor Pkwy, turn right, then make a U-turn to reach the destination.
Subdivision
60 - Palm Coast
Standard status
Active
APN
38-11-31-1915-000A0-P003
Size
1,805 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
EUROPEAN VILLAGE GARAGE CONDO BLDG A UNIT P-3 & UNDIVIDED INTEREST IN COMMON ELEMENTS OR 1563/236 OR 1772/1574-CT
Tax Annual Amount
70
HOA Fee
$155 Monthly
Legal Description
EUROPEAN VILLAGE GARAGE CONDO BLDG A UNIT P-3 & UNDIVIDED INTEREST IN COMMON ELEMENTS OR 1563/236 OR 1772/1574-CT
Utilities
Utilities
Cable Available
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2005
Floors in Building
1
Building materials
Concrete
Roof type
Tile
Listing Agency:
RE/MAX Signature · RE/MAX International
(386) 673-7001
Listed By:
Clarissa Swartzlander · License #3535615
(724) 954-2787
Added: Mar 23
Changed: Aug 20
Last Checked: Sep 4 at 1:06AM
MLS# 1224472
Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use offering comprises two condominium units totaling 1,805 square feet, with residential, short-term rental, and professional office use identified in the property information. The package includes ten covered parking spaces, assigned parking, concrete construction, a tile roof, central heating, and central air. The property was built in 2005 and has public water and cable availability.
Two additional land parcels are included, including one parcel positioned directly on the Intracoastal. The property is located at 101 Palm Harbor Parkway in Palm Coast, Florida, within the European Village development. Together, the condominium units, covered parking, and land components create a combined mixed-use property offering.
Two additional land parcels are included, including one parcel positioned directly on the Intracoastal. The property is located at 101 Palm Harbor Parkway in Palm Coast, Florida, within the European Village development. Together, the condominium units, covered parking, and land components create a combined mixed-use property offering.
Key Highlights
- Two condominium units totaling 1,805 square feet
- Ten covered parking spaces with assigned parking
- Two additional land parcels included
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
$20,907
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
3.46%
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%
$418,140
$418.1K
Cap Rate 7%
$298,671
$298.7K
Cap Rate 9%
$232,300
$232.3K
Market Conditions
NOI Build-Up for 1,805 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
$35.7K $19.80/SF
− Vacancy
−$7.9K −$4.36/SF
EGI
$27.9K $15.44/SF
− OpEx
−$7.0K −$3.86/SF
NOI
$20.9K $11.58/SF
Area
Flagler County, FL
Vacancy
22.00%
Lease Rate
$19.80 /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%
$418,140
Cap Rate 7%
$298,671
Cap Rate 9%
$232,300
Alternative Uses
Best Use
Office B
$298.7K
$261.3K – $348.5K
NOI $20,907 @ 7.0% cap · market cap 3.46%
Second Best
Apartment 5plus
$264.5K
$231.5K – $308.6K
NOI $18,516 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$433.8K
$379.5K – $506.1K
NOI $30,363 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
2
Residential units
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 32137, FL
46,258
Population
24,717
Households
1.9
Avg Household Size
57
Median Age
37%
College-Educated
95%
High-School Grad
62.4 sq mi
ZIP Area
741
Density / Sq Mi
$78,731
Median Household Income
$42,249
Median Earnings
$1,790
Median Rent
$360,600
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?
Mixed-use property - Two condominium units accommodate residential, short-term rental, or professional office use.
Where is this mixed-use property located?
The property is located at 101 Palm Harbor Parkway Palm Coast, FL.
What is the asking price?
The asking price for this property is $605,000.
What are key features of this property?
This property features: Two condominium units totaling 1,805 square feet; Ten covered parking spaces with assigned parking; Two additional land parcels included
