Second-Floor Professional Office
For Sale
$329,000
203-42 Business Centre Dr, Miramar Beach, FL 32550
Second-floor office suite in the Summit Office building with multiple offices and a kitchen/break area.
Property Size1,425 SF
Price / SF$230.88
Days on Market72
Property Features for 203-42 Business Centre Dr
General Information
Standard status
Active
Size
1,425 SF
Occupancy
50%
Additional Details
Business Included
Yes
Office Units
2
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Taylor Allen Properties LLC
(850) 865-9123
Listed By:
Brett D Stuart · License #678851
(850) 865-9123
Source:
Exprealty
Added: Jun 19
Changed: Aug 22
Last Checked: Aug 28 at 5:25PM
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.
This 2nd-floor professional office space is located in the Summit Office building and sits in the NW corner of the property. The unit is partially occupied by Hear Again America, with a remainder of approximately 700 SF available for immediate occupancy. The available portion includes two windowed offices, a third office, and a kitchen/break area, and it provides two access doors into the hallway.
The building is professionally managed, and restrooms are provided in the common areas of the floor. The space configuration supports both private office use and reception-related flow within the suite.
Overall, the suite offers a practical mix of enclosed offices plus break space, with direct hallway access through two doors.
The building is professionally managed, and restrooms are provided in the common areas of the floor. The space configuration supports both private office use and reception-related flow within the suite.
Overall, the suite offers a practical mix of enclosed offices plus break space, with direct hallway access through two doors.
Key Highlights
- 1425 SF professional 2nd‑floor office space in the Summit Office building in Miramar Beach, FL
- NW corner 2nd‑floor unit with hard‑corner layout featuring three offices and a reception area
- Currently 1/2 occupied by Hear Again America under a 5‑year lease
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
$17,955
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
5.46%
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%
$359,100
$359.1K
Cap Rate 7%
$256,500
$256.5K
Cap Rate 9%
$199,500
$199.5K
Market Conditions
NOI Build-Up for 1,425 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
$29.9K $21.00/SF
− Vacancy
−$6.0K −$4.20/SF
EGI
$23.9K $16.80/SF
− OpEx
−$6.0K −$4.20/SF
NOI
$18.0K $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%
$359,100
Cap Rate 7%
$256,500
Cap Rate 9%
$199,500
Alternative Uses
Best Use
Office B
$256.5K
$224.4K – $299.3K
NOI $17,955 @ 7.0% cap · market cap 5.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$358.4K
$313.6K – $418.1K
NOI $25,086 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
50%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
884
Businesses Nearby
Explore this area
Business Placement
Demographics for 32550, FL
7,828
Population
14,909
Households
0.5
Avg Household Size
58
Median Age
55%
College-Educated
98%
High-School Grad
7.0 sq mi
ZIP Area
1,118
Density / Sq Mi
$96,269
Median Household Income
$60,634
Median Earnings
$2,108
Median Rent
$679,800
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 - Second-floor office suite in the Summit Office building with multiple offices and a kitchen/break area.
Where is this office units located?
The property is located at 203-42 Business Centre Dr Miramar Beach, FL.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: 1425 SF professional 2nd‑floor office space in the Summit Office building in Miramar Beach, FL; NW corner 2nd‑floor unit with hard‑corner layout featuring three offices and a reception area; Currently 1/2 occupied by Hear Again America under a 5‑year lease
