Leased Office
For Sale
$4,600,000
1 HAMMOCK BEACH, Palm Coast, FL 32137
Fully occupied office property with upgraded building systems and a substantial shared lobby area.
Property Size25,834 SF
Days on Market48
Property Features for 1 HAMMOCK BEACH
General Information
Standard status
Active
Size
25,834 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Cap Rate
7%
Taxes and HOA fees
Annual Taxes
$30,745
Building Details
Building Size
25,834 SF
Year Built
2003
Tenancy
Multi
Listing Agency:
PARKSIDE REALTY GROUP
Listed By:
Margaret Jones · License #3113661
(386) 931-0488
Source:
Elliman
Added: Sep 1
Changed: Oct 8
Last Checked: Oct 16 at 10:53AM
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 PARKSIDE REALTY GROUP
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2003, this office property is fully leased to seven tenants and includes a 5K+ square foot lobby that remains outside the tenant lease allocations. That shared area creates a distinct component of the building beyond the occupied office premises. The roof was replaced in 2023/24, and all HVAC units have been updated.
The property is located in the Hammock area of Palm Coast at 1 Hammock Beach. Palm Coast is positioned 60 miles south of Jacksonville and 80 miles northeast of Orlando, providing access to both metropolitan markets. The operating profile reflects a 7 cap rate, and 2025 operating figures are actual.
The property is located in the Hammock area of Palm Coast at 1 Hammock Beach. Palm Coast is positioned 60 miles south of Jacksonville and 80 miles northeast of Orlando, providing access to both metropolitan markets. The operating profile reflects a 7 cap rate, and 2025 operating figures are actual.
Key Highlights
- Fully leased office building with seven tenants
- 5K+ square foot lobby excluded from tenant lease allocations
- Roof replacement completed in 2023/24
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$299,235
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,984,700
$6.0M
Cap Rate 7%
$4,274,786
$4.3M
Cap Rate 9%
$3,324,833
$3.3M
Market Conditions
NOI Build-Up for 25,834 SF
Gross rent
$511.5K $19.80/SF
− Vacancy
−$112.5K −$4.36/SF
EGI
$399.0K $15.44/SF
− OpEx
−$99.7K −$3.86/SF
NOI
$299.2K $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 Rate 5%
$5,984,700
Cap Rate 7%
$4,274,786
Cap Rate 9%
$3,324,833
Alternative Uses
Best Use
Office B
$4.27M
$3.74M – $4.99M
NOI $299,235 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.21M
$5.43M – $7.24M
NOI $434,569 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
191
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
Frequently Asked Questions
What type of property is this?
Office building - Fully occupied office property with upgraded building systems and a substantial shared lobby area.
Where is this office building located?
The property is located at 1 HAMMOCK BEACH Palm Coast, FL.
What is the asking price?
The asking price for this property is $4,600,000.
What are key features of this property?
This property features: Fully leased office building with seven tenants; 5K+ square foot lobby excluded from tenant lease allocations; Roof replacement completed in 2023/24
