Leased Office Building with Updated
For Sale
$4,700,000
1 Hammock Beach Parkway PALM COAST, Palm Coast, FL 32137
Fully leased office building featuring a 5,000+ sf lobby and roof replacement plus updated HVAC equipment.
Property Size25,834 SF
Price / SF$181.93
Days on Market112
Property Features for 1 Hammock Beach Parkway PALM COAST
General Information
Standard status
Active
Size
25,834 SF
Zoning
PUD
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
Listed By:
Yeneisy Cruz
(904) 447-1321
Source:
Yourfhrm
Added: Jul 9
Changed: Sep 5
Last Checked: Oct 7 at 9:45AM
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 Yeneisy Cruz
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Investment Insights
Based on property information with market context.
This fully leased office building was originally constructed as the sales center for Hammock Beach and Ocean Hammock. The property features an impressive 5,000+ square foot lobby and is currently leased by seven tenants. Operating numbers for 2024 are identified as actual in the seller’s remarks.
Recent exterior and mechanical improvements include a roof replacement completed in 2023/2024 and updated HVAC units throughout the building.
For buyers seeking an operating, leased office asset, this property combines existing tenant occupancy with documented building system updates.
Recent exterior and mechanical improvements include a roof replacement completed in 2023/2024 and updated HVAC units throughout the building.
For buyers seeking an operating, leased office asset, this property combines existing tenant occupancy with documented building system updates.
Key Highlights
- Fully leased office building built in 2003 with an impressive 5,000+ SF lobby
- Roof replaced in 2023/24; all HVAC units updated
- Originally constructed as the sales center for Hammock Beach and Ocean Hammock
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$299,235
Cap Rate
6.37%
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 6.37%
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
193
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Fully leased office building featuring a 5,000+ sf lobby and roof replacement plus updated HVAC equipment.
Where is this office building located?
The property is located at 1 Hammock Beach Parkway PALM COAST 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 built in 2003 with an impressive 5,000+ SF lobby; Roof replaced in 2023/24; all HVAC units updated; Originally constructed as the sales center for Hammock Beach and Ocean Hammock
