Leased Office
New
For Sale
$4,700,000
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 Market3
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
Last Checked: Sep 1 at 10:50PM
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
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 = 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
$299,235
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
6.37%
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%
$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
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
$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 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%
$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 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.21M
$5.43M – $7.24M
NOI $434,569 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
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
Questions? Ask Rey
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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 $4,700,000.
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
