Storefront Retail Property with
For Sale
$528,000
Pending
11900 SE OLD DIXIE, Hobe Sound, FL 33455
Flexible commercial space with natural light, vaulted wood ceilings, and access to public parking.
Property Size3,200 SF
Days on Market3151
Property Features for 11900 SE OLD DIXIE
General Information
Standard status
Pending
Size
3,200 SF
Property subtype
General Commercial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,613
Amenities
vaulted wood ceilings with skylights
3
4 Parking Spaces.
80
Building Details
Year Built
1972
Listing Agency:
Fenton & Lang
(772) 233-9657
Listed By:
Andrew Ciraldo · License #3230821
(772) 233-9657
Source:
Xome
Added: Jan 13, 2018
Changed: Aug 30
Last Checked: Aug 30 at 1:09AM
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 Fenton & Lang
Investment Insights
Based on property information with market context.
This 3,200-square-foot storefront property was previously used as a retail store and gallery. The interior features vaulted wood ceilings and skylights that provide natural light throughout the space. The layout is identified as suitable for retail, gallery, business, or professional office use, with a floor plan available in the property documents.
The building is positioned on an access road bordering Old Dixie Highway in the Hobe Sound business district. Public parking is available nearby, and the property includes 4 parking spaces. Built in 1972, the property offers a recognizable commercial storefront setting with established street exposure.
The building is positioned on an access road bordering Old Dixie Highway in the Hobe Sound business district. Public parking is available nearby, and the property includes 4 parking spaces. Built in 1972, the property offers a recognizable commercial storefront setting with established street exposure.
Key Highlights
- 3,200‑square‑foot storefront property
- Former retail store and gallery use
- Vaulted wood ceilings with skylights
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
$40,435
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
7.66%
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%
$808,700
$808.7K
Cap Rate 7%
$577,643
$577.6K
Cap Rate 9%
$449,278
$449.3K
Market Conditions
NOI Build-Up for 3,200 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
$69.1K $21.60/SF
− Vacancy
−$15.2K −$4.75/SF
EGI
$53.9K $16.85/SF
− OpEx
−$13.5K −$4.21/SF
NOI
$40.4K $12.64/SF
Area
Martin County, FL
Vacancy
22.00%
Lease Rate
$21.60 /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%
$808,700
Cap Rate 7%
$577,643
Cap Rate 9%
$449,278
Alternative Uses
Best Use
Retail
$840.7K
$735.6K – $980.8K
NOI $58,847 @ 7.0% cap · market cap 11.15%
Second Best
Office B
$577.6K
$505.4K – $673.9K
NOI $40,435 @ 7.0% cap · market cap 7.66%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33455, FL
20,799
Population
11,681
Households
1.8
Avg Household Size
60
Median Age
36%
College-Educated
94%
High-School Grad
56.6 sq mi
ZIP Area
367
Density / Sq Mi
$74,149
Median Household Income
$35,161
Median Earnings
$1,193
Median Rent
$395,600
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?
Storefront property - Flexible commercial space with natural light, vaulted wood ceilings, and access to public parking.
Where is this storefront property located?
The property is located at 11900 SE OLD DIXIE Hobe Sound, FL.
What is the asking price?
The asking price for this property is $528,000.
What are key features of this property?
This property features: 3,200‑square‑foot storefront property; Former retail store and gallery use; Vaulted wood ceilings with skylights
