Mixed-Use Property with Covered
New
For Sale
$605,000
101 PALM HARBOR, Palm Coast, FL 32137
Two condominium units offer residential, short-term rental, or professional office use within European Village.
Property Size1,805 SF
Days on Market3
Property Features for 101 PALM HARBOR
General Information
Standard status
Active
Size
1,805 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$70
Building Details
Building Size
1,805 SF
Year Built
2005
Listing Agency:
RE/MAX Signature
(724) 954-2787
Listed By:
CLARISSA SWARTZLANDER · License #3535615
Source:
Elliman
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 4:10PM
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 RE/MAX Signature
Investment Insights
Based on property information with market context.
This mixed-use offering includes two condominium units in European Village, a mixed-use destination in Palm Coast. The units are identified for residential occupancy, short-term rentals, or professional office use, providing multiple documented use options within the package. The property was built in 2005 and includes ten covered parking spaces.
The offering also contains two additional land parcels. One parcel has direct frontage on the Intracoastal, adding a waterfront component to the overall assemblage. The property is located at 101 Palm Harbor in Palm Coast, Florida, with a Walk Score of 25 and a Bike Score of 27.
The offering also contains two additional land parcels. One parcel has direct frontage on the Intracoastal, adding a waterfront component to the overall assemblage. The property is located at 101 Palm Harbor in Palm Coast, Florida, with a Walk Score of 25 and a Bike Score of 27.
Key Highlights
- Two condominium units included in the offering
- Residential, short‑term rental, or professional office use identified
- 10 covered parking 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
$20,907
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
3.46%
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%
$418,140
$418.1K
Cap Rate 7%
$298,671
$298.7K
Cap Rate 9%
$232,300
$232.3K
Market Conditions
NOI Build-Up for 1,805 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
$35.7K $19.80/SF
− Vacancy
−$7.9K −$4.36/SF
EGI
$27.9K $15.44/SF
− OpEx
−$7.0K −$3.86/SF
NOI
$20.9K $11.58/SF
Area
Flagler County, FL
Vacancy
22.00%
Lease Rate
$19.80 /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%
$418,140
Cap Rate 7%
$298,671
Cap Rate 9%
$232,300
Alternative Uses
Best Use
Office B
$298.7K
$261.3K – $348.5K
NOI $20,907 @ 7.0% cap · market cap 3.46%
Second Best
Apartment 5plus
$264.5K
$231.5K – $308.6K
NOI $18,516 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$433.8K
$379.5K – $506.1K
NOI $30,363 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
Explore this area
Business Placement
Demographics for 32137, FL
46,258
Population
24,717
Households
1.9
Avg Household Size
57
Median Age
37%
College-Educated
95%
High-School Grad
62.4 sq mi
ZIP Area
741
Density / Sq Mi
$78,731
Median Household Income
$42,249
Median Earnings
$1,790
Median Rent
$360,600
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?
Mixed-use property - Two condominium units offer residential, short-term rental, or professional office use within European Village.
Where is this mixed-use property located?
The property is located at 101 PALM HARBOR Palm Coast, FL.
What is the asking price?
The asking price for this property is $605,000.
What are key features of this property?
This property features: Two condominium units included in the offering; Residential, short‑term rental, or professional office use identified; 10 covered parking spaces
