Two-Level Office
New
For Sale
Contact for pricing
127 Harbor Blvd, Destin, FL 32541
Separate upper and lower spaces are currently owner-occupied with no tenant leases in place.
Property Size1,600 SF
Price / SF$215.63
Days on Market3
Property Features for 127 Harbor Blvd
General Information
Standard status
Active
Size
1,600 SF
Property subtype
RETAIL
Occupancy
100%
Building Details
Tenancy
Single
Owner Occupied
Yes
Listing Agency:
Abbott Martin Group | eXp Realty
(850) 460-2900
Listed By:
Abbott Martin Group
(888) 883-8509
Source:
Moodyscre
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 2:12PM
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 Abbott Martin Group | eXp Realty
Investment Insights
Based on property information with market context.
This office property includes two separately configured units, with each measuring 800 SF for a combined 1,600 SF. The spaces are arranged on different levels and are being conveyed together, creating a straightforward configuration for continued occupancy or reorganization by a new owner. Current ownership occupancy means there are no tenant leases in place.
The property is located at 127 Harbor Blvd in Destin, providing access to the surrounding commercial corridor. Its office-oriented layout supports multiple work areas within the overall asset, while the separate floor arrangement allows the spaces to function independently. Square footage, permitted uses, and other property details should be independently verified by the buyer.
The property is located at 127 Harbor Blvd in Destin, providing access to the surrounding commercial corridor. Its office-oriented layout supports multiple work areas within the overall asset, while the separate floor arrangement allows the spaces to function independently. Square footage, permitted uses, and other property details should be independently verified by the buyer.
Key Highlights
- Two 800 SF office units sold together
- Combined property size of 1,600 SF
- Separate upstairs and downstairs spaces
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
$20,160
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
5.84%
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%
$403,200
$403.2K
Cap Rate 7%
$288,000
$288.0K
Cap Rate 9%
$224,000
$224.0K
Market Conditions
NOI Build-Up for 1,600 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
$33.6K $21.00/SF
− Vacancy
−$6.7K −$4.20/SF
EGI
$26.9K $16.80/SF
− OpEx
−$6.7K −$4.20/SF
NOI
$20.2K $12.60/SF
Area
Walton County, FL
Vacancy
20.00%
Lease Rate
$21.00 /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%
$403,200
Cap Rate 7%
$288,000
Cap Rate 9%
$224,000
Alternative Uses
Best Use
Office B
$288.0K
$252.0K – $336.0K
NOI $20,160 @ 7.0% cap · market cap 5.84%
Second Best
Retail
$263.5K
$230.6K – $307.4K
NOI $18,446 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$402.4K
$352.1K – $469.4K
NOI $28,166 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,149
Businesses Nearby
Explore this area
Business Placement
Demographics for 32541, FL
18,419
Population
16,390
Households
1.1
Avg Household Size
45
Median Age
48%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
1,462
Density / Sq Mi
$93,004
Median Household Income
$47,991
Median Earnings
$1,976
Median Rent
$498,600
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?
Office units - Separate upper and lower spaces are currently owner-occupied with no tenant leases in place.
Where is this office units located?
The property is located at 127 Harbor Blvd Destin, FL.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Two 800 SF office units sold together; Combined property size of 1,600 SF; Separate upstairs and downstairs spaces
