Fully Leased Office
For Sale
Contact for pricing
1 HAMMOCK BEACH PKWY, Palm Coast, FL 32137
Seven tenant leases occupy the building, with an unallocated lobby area offering additional leasing flexibility.
Property Size25,834 SF
Days on Market582
Property Features for 1 HAMMOCK BEACH PKWY
General Information
Standard status
Active
Size
25,834 SF
Property subtype
Office
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
Buildings
1
Tenancy
Multi
Listing Agency:
PARKSIDE REALTY GROUP
Listed By:
Margaret Jones · License #3113661
(386) 931-0488
Source:
Thefullerproperties
Added: Mar 26, 2025
Changed: Oct 25
Last Checked: Oct 27 at 12:56AM
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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Investment Insights
Based on property information with market context.
This 25,834 SF office building was completed in 2003 and is currently leased to seven tenants. The property includes a 5K+ sf lobby that is not allocated among the existing leases, creating an identified opportunity for additional income. The roof was replaced in 2023/24, and all HVAC units have been updated.
Located at 1 Hammock Beach Pkwy in Palm Coast’s Hammock area, the property sits near Hammock Beach and Ocean Hammock. The facility originally served as a sales center for those developments and now functions as a multi-tenant office asset. Operating figures for 2024 are actual, and the property is presented at a 7 cap rate.
Located at 1 Hammock Beach Pkwy in Palm Coast’s Hammock area, the property sits near Hammock Beach and Ocean Hammock. The facility originally served as a sales center for those developments and now functions as a multi-tenant office asset. Operating figures for 2024 are actual, and the property is presented at a 7 cap rate.
Key Highlights
- 25,834 SF office building completed in 2003
- Fully leased to seven tenants
- 5K+ sf lobby is outside the tenant lease allocations
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.
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Property Analytics
Who owns this building?
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
193
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Seven tenant leases occupy the building, with an unallocated lobby area offering additional leasing flexibility.
Where is this office building located?
The property is located at 1 HAMMOCK BEACH PKWY 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: 25,834 SF office building completed in 2003; Fully leased to seven tenants; 5K+ sf lobby is outside the tenant lease allocations
