Leased Office Building with Updated
1 Hammock Beach Parkway PALM COAST Palm Coast, FL 32137
1 Hammock Beach Parkway PALM COAST, Palm Coast, FL, 32137
$4,700,000
For Sale
$4,700,000
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 Market14
Property Features for 1 Hammock Beach Parkway PALM COAST
General Information
- Standard status
- Active
- Size
- 25,834 SF
Building Details
- Year Built
- 2003
Listing agency
(904) 447-1321
Listed by
Yeneisy Cruz
(904) 447-1321
Source
Yourfhrm
Added: Jul 9 Updated: Jul 22 at 1:42AM Checked: Jul 22 at 2:22AM
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
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
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $511.5k | $19.80 |
| − Vacancy | −$112.5k | −$4.36 |
| EGI | $399.0k | $15.44 |
| − OpEx | −$99.7k | −$3.86 |
| NOI | $299.2k | $11.58 |
25,834 SF · lease $19.80/SF/yr · vacancy 22.00% · expense 25.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
MAY Management Services, ...
Property Management Company
Darlene Montrose @ Coldwell ...
Real Estate Agency
Coastal Cloud
Business Management Consultant
Michael Babcock, Realtor ...
Real Estate Agency
Andy Kalcounos, REALTOR ...
Real Estate Agency
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FAQs
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
