End-Unit Short-Term Rental
For Sale
$550,000
1414 Bahia Drive, Navarre, FL 32566
Residential, Navarre, FL
Property Size2,000 SF
Lot Size0.07 Acres
Price / SF$275
Days on Market148
Property Features for 1414 Bahia Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Resid Multi-Family
Bedrooms
2
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 4, Bedroom 2, Bathroom 3, Bedroom 1, Dining Room, Bathroom 2
Patio and Porch features
Patio
Interior features
Breakfast Bar, Split Bedroom, Washer/Dryer Hookup
Exterior features
Balcony, Shower
Fencing
Privacy, Fenced
Basement
Finished
Appliances
Auto Garage Door Opn, Dishwasher, Dryer, Microwave, Refrigerator W/IceMk, Stove/Oven Electric, Washer, Water Heater - Elect
Subdivision
BAHIA BADAR
Lot features
Cul-De-Sac, Dead End, Flood Insurance Req, Survey Available, Within 1/2 Mile to Water
Elementary school
Holley-Navarre
Middle school
Holley-Navarre
High school
Navarre
Directions
Hwy 98 to Navarre bridge turn and proceed over to Gulf Blvd. Turn right and follow Gulf Blvd and Bahia Dr will be on your right
Standard status
Active
APN
28-2S-26-9020-00000-0341
Size
2,000 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Bahia Badar Port Of Lots 34 & 35 Further Des As: Com At Sw Corn Of Lot 40 Th N10 49'W 175 .37 Ft To Pob Th Cont 27.76 Ft Th N72 11'E 120.90 Ft To E Su B Line Th S10 49'E 28.01 Ft Th S72 14'48W 40.73 Ft To Start Of A Party Wall Th Cont Along Party Wall 48.82 Ft To End Of Party Wall Th Cont S72 W 31.34 Ft To Pob As Des In Or 1726 Pg 996 & Or 1737 Pg 94
Tax Annual Amount
4612
Legal Description
Bahia Badar Port Of Lots 34 & 35 Further Des As: Com At Sw Corn Of Lot 40 Th N10 49'W 175 .37 Ft To Pob Th Cont 27.76 Ft Th N72 11'E 120.90 Ft To E Su B Line Th S10 49'E 28.01 Ft Th S72 14'48W 40.73 Ft To Start Of A Party Wall Th Cont Along Party Wall 48.82 Ft To End Of Party Wall Th Cont S72 W 31.34 Ft To Pob As Des In Or 1726 Pg 996 & Or 1737 Pg 94
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Building Details
Year built
1996
Floors in Building
3
Flooring type
Tile, Carpet, Vinyl
Building materials
Siding Vinyl
Architectural style
Other
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Chelsea D Groves · License #3406210
(217) 621-3336
Added: Apr 17
Changed: Sep 11
Last Checked: Sep 11 at 11:06PM
MLS# 1000888
Copyright © 2026 Emerald Coast 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 2,000-square-foot end-unit townhome is arranged for short-term rental use and includes a separate-entry ground-level apartment. The apartment has a full bathroom, kitchenette with electric stove, dedicated AC, and sleeper sofa. The main residence provides two bedrooms, 3.5 bathrooms, an updated kitchen with breakfast bar, and a living area with sleeper sofa. Each upper-level bedroom includes a private en-suite bathroom, while a small office nook adds workspace. Five outdoor spaces include decks and a patio, and the property also features central air, washer and dryer, dishwasher, refrigerator, and fenced privacy areas.
Set on a 0.07-acre lot in Navarre, the townhome is within walking distance of Gulf beaches, dining, live music, and waterfront activities. Built in 1996, the property has Resid Multi-Family zoning, public sewer, vinyl siding, and a combination of carpet, tile, and vinyl flooring. The layout accommodates sleeping arrangements for up to 8 guests and can support personal use alongside rental operations.
Set on a 0.07-acre lot in Navarre, the townhome is within walking distance of Gulf beaches, dining, live music, and waterfront activities. Built in 1996, the property has Resid Multi-Family zoning, public sewer, vinyl siding, and a combination of carpet, tile, and vinyl flooring. The layout accommodates sleeping arrangements for up to 8 guests and can support personal use alongside rental operations.
Key Highlights
- 2,000‑square‑foot end‑unit townhome on a 0.07‑acre lot
- Separate‑entry apartment with full bathroom, kitchenette, electric stove, dedicated AC, and sleeper sofa
- Two bedrooms with private en‑suite bathrooms plus a 3.5‑bath total
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
$16,130
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
2.93%
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%
$322,600
$322.6K
Cap Rate 7%
$230,429
$230.4K
Cap Rate 9%
$179,222
$179.2K
Market Conditions
NOI Build-Up for 2,000 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
$31.2K $15.60/SF
− Vacancy
−$1.9K −$0.94/SF
EGI
$29.3K $14.66/SF
− OpEx
−$13.2K −$6.60/SF
NOI
$16.1K $8.07/SF
Area
Santa Rosa County, FL
Vacancy
6.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$322,600
Cap Rate 7%
$230,429
Cap Rate 9%
$179,222
Alternative Uses
Best Use
Apartment 5plus
$230.4K
$201.6K – $268.8K
NOI $16,130 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$492.5K
$430.9K – $574.6K
NOI $34,474 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Explore this area
Business Placement
Demographics for 32566, FL
44,434
Population
17,893
Households
2.5
Avg Household Size
38
Median Age
33%
College-Educated
95%
High-School Grad
39.2 sq mi
ZIP Area
1,134
Density / Sq Mi
$99,501
Median Household Income
$46,035
Median Earnings
$1,782
Median Rent
$361,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Flexible coastal layout with a separate-entry apartment, private decks, and access to Gulf beaches and nearby dining.
Where is this short term rental property located?
The property is located at 1414 Bahia Drive Navarre, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,000‑square‑foot end‑unit townhome on a 0.07‑acre lot; Separate‑entry apartment with full bathroom, kitchenette, electric stove, dedicated AC, and sleeper sofa; Two bedrooms with private en‑suite bathrooms plus a 3.5‑bath total
