Flex Space with Roll-Up
For Sale
$1,325,000
132 Market Street #A & B, Santa Rosa Beach, FL 32459
Two suites combine office/showroom areas with warehouse space and three-phase power.
Property Size5,000 SF
Price / SF$265
Days on Market43
Property Features for 132 Market Street #A & B
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Commercial
Property Condition
Severity
Repairs Needed
Evidence
minor demolition
Additional Details
Utilities to Site
Yes
Three-Phase Power
Yes
Office Units
2
Amenities
3 phase power
Heated and cooled office/showroom
Two 14' roll-up doors
Building Details
Buildings
1
Building Size
5,000 SF
Listing Agency:
TAYLOR ALLEN PROPERTIES LLC
(850) 259-2894
Listed By:
CHAD KNAEPPLE
Source:
Corcoran
Added: Jul 20
Changed: Aug 30
Last Checked: Aug 31 at 5:56PM
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 TAYLOR ALLEN PROPERTIES LLC
Investment Insights
Based on property information with market context.
Located at 132 Market Street in Santa Rosa Beach, this flex property contains 5,000 SF arranged as two separate 2,500 SF suites. Each suite includes warehouse space served by a 14-foot roll door, while the office and showroom areas are heated and cooled.
The current configuration can be consolidated into a larger contiguous space through limited interior demolition. Three-phase power is already installed, supporting the building’s existing office, showroom, and warehouse layout. The property is positioned in the heart of Santa Rosa Beach, with separate suites that can remain divided or be reconfigured for a broader floor plan.
The current configuration can be consolidated into a larger contiguous space through limited interior demolition. Three-phase power is already installed, supporting the building’s existing office, showroom, and warehouse layout. The property is positioned in the heart of Santa Rosa Beach, with separate suites that can remain divided or be reconfigured for a broader floor plan.
Key Highlights
- 5,000 SF flex property at 132 Market Street, Santa Rosa Beach
- Two separate 2,500 SF suites with potential for a larger contiguous layout
- Two 14' roll doors provide warehouse access
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
$63,000
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
4.75%
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%
$1,260,000
$1.3M
Cap Rate 7%
$900,000
$900.0K
Cap Rate 9%
$700,000
$700.0K
Market Conditions
NOI Build-Up for 5,000 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
$105.0K $21.00/SF
− Vacancy
−$21.0K −$4.20/SF
EGI
$84.0K $16.80/SF
− OpEx
−$21.0K −$4.20/SF
NOI
$63.0K $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%
$1,260,000
Cap Rate 7%
$900,000
Cap Rate 9%
$700,000
Alternative Uses
Best Use
Office B
$900.0K
$787.5K – $1.05M
NOI $63,000 @ 7.0% cap · market cap 4.75%
Second Best
Flex RnD
$666.3K
$583.1K – $777.4K
NOI $46,644 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,020 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32459, FL
20,567
Population
17,700
Households
1.2
Avg Household Size
43
Median Age
48%
College-Educated
96%
High-School Grad
54.5 sq mi
ZIP Area
377
Density / Sq Mi
$101,067
Median Household Income
$53,393
Median Earnings
$2,165
Median Rent
$613,100
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?
Flex space - Two suites combine office/showroom areas with warehouse space and three-phase power.
Where is this flex space located?
The property is located at 132 Market Street #A & B Santa Rosa Beach, FL.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: 5,000 SF flex property at 132 Market Street, Santa Rosa Beach; Two separate 2,500 SF suites with potential for a larger contiguous layout; Two 14' roll doors provide warehouse access
