Milton Mixed-Use Investment
For Sale
$368,000
5702 Pebble Ridge Dr, Milton, FL 32583
2,350 SF Office Building For Sale
Property Size2,350 SF
Lot Size0.75 Acres
Price / SF$156.60
Days on Market569
Property Features for 5702 Pebble Ridge Dr
General Information
Standard status
Active
Property type
Other office properties, Residential offices, Office buildings, Office Spaces, Mixed-use properties
Size
2,350 SF
Net Rentable
1,774 SF
Class
B
Elevators
N/A
Lot size
0.75 Acres
Building Details
Year Built
2008
Buildings
1
Stories
1
Listing Agency:
(850) 564-0120
Listed By:
Paul
(850) 564-0120
Added: Jan 31, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
Located in Milton, Florida, this mixed-use office building offers an investment opportunity. Constructed in 2008, the Class B building has a total size of 2,350 square feet and a rentable space of 1,774 square feet. The property, situated on a 0.75-acre lot, is currently occupied by a single tenant and features a framed construction and a sprinkler system. The building consists of one floor and is comprised of two parcels: 30-1N-28-0000-00101-0000 and 30-1N-28-0000-00115-0000. Its location in Milton provides access to local amenities and transportation routes. The existing infrastructure and construction make it suitable for various business uses.
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
$27,749
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
7.54%
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%
$554,980
$555.0K
Cap Rate 7%
$396,414
$396.4K
Cap Rate 9%
$308,322
$308.3K
Market Conditions
NOI Build-Up for 2,350 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
$45.1K $19.20/SF
− Vacancy
−$8.1K −$3.46/SF
EGI
$37.0K $15.74/SF
− OpEx
−$9.2K −$3.94/SF
NOI
$27.7K $11.81/SF
Area
Santa Rosa County, FL
Vacancy
18.00%
Lease Rate
$19.20 /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%
$554,980
Cap Rate 7%
$396,414
Cap Rate 9%
$308,322
Alternative Uses
Best Use
Office B
$396.4K
$346.9K – $462.5K
NOI $27,749 @ 7.0% cap · market cap 7.54%
Second Best
Mixed Use
$299.1K
$261.7K – $349.0K
NOI $20,939 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$578.7K
$506.3K – $675.1K
NOI $40,506 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 32583, FL
31,047
Population
11,169
Households
2.8
Avg Household Size
41
Median Age
22%
College-Educated
87%
High-School Grad
125.1 sq mi
ZIP Area
248
Density / Sq Mi
$84,957
Median Household Income
$42,193
Median Earnings
$1,307
Median Rent
$229,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office property - 2,350 SF Office Building For Sale
Where is this office property located?
The property is located at 5702 Pebble Ridge Dr Milton, FL.
What is the asking price?
The asking price for this property is $368,000.
