Premier Class A Office
For Sale
Contact for pricing
2300 SE MONTEREY RD, Stuart, FL 34996
Multi-tenant office building in Stuart's business district with cash flow.
Property Size14,318 SF
Price / SF$286.35
Days on Market101
Property Features for 2300 SE MONTEREY RD
General Information
Standard status
Active
Size
14,318 SF
Class
A
Total Parking Spaces
55
Property subtype
Office
Zoning
R-3 - City of Stuart
Occupancy
97%
Lease Type
Gross
Investment Type
Stabilized
Net Operating Income
$263,393
Building Details
Year Built
1999
Year Renovated
2019
Buildings
1
Stories
2
Units
19
Tenancy
Multi
Listing Agency:
Florida Commercial Enterprises
Listed By:
Alex Aydelotte · License #BK662112
Source:
Crexi
Added: May 21
Changed: Aug 23
Last Checked: Aug 28 at 11:07PM
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 Florida Commercial Enterprises
Investment Insights
Based on property information with market context.
Rio Vista Commons is a Class A office building situated in Stuart's business district. This multi-tenant property is income-producing and features a mix of professional businesses, providing cash flow and full occupancy. The two-story building is subdivided into three office suites with executive office suites, offering flexible lease space for stability. Recent upgrades and renovations include a new metal roof, HVAC systems, exterior and interior painting, and new flooring. The building is located on Monterey Road, south of its intersection with East Ocean Boulevard, providing access to Downtown Stuart, US#1, and Kanner Highway. The flexible lease structures in place may provide an opportunity for an owner/user to occupy space in the future. The property contains 14,318 square feet.
Key Highlights
- 100% Occupancy, providing Excellent Cash Flow
- Premier Class ‘A’ Office Building in Stuart’s desirable Business District
- Upgraded and renovated in recent years: New Metal Roof, HVAC systems, Exterior and Interior Painting, New Flooring
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
$180,922
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
4.41%
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%
$3,618,440
$3.6M
Cap Rate 7%
$2,584,600
$2.6M
Cap Rate 9%
$2,010,244
$2.0M
Market Conditions
NOI Build-Up for 14,318 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
$309.3K $21.60/SF
− Vacancy
−$68.0K −$4.75/SF
EGI
$241.2K $16.85/SF
− OpEx
−$60.3K −$4.21/SF
NOI
$180.9K $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%
$3,618,440
Cap Rate 7%
$2,584,600
Cap Rate 9%
$2,010,244
Alternative Uses
Best Use
Office B
$2.58M
$2.26M – $3.02M
NOI $180,922 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$3.76M
$3.29M – $4.39M
NOI $263,304 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
907
Businesses Nearby
Explore this area
Business Placement
Demographics for 34996, FL
11,042
Population
8,684
Households
1.3
Avg Household Size
64
Median Age
46%
College-Educated
96%
High-School Grad
6.7 sq mi
ZIP Area
1,648
Density / Sq Mi
$82,898
Median Household Income
$38,365
Median Earnings
$1,334
Median Rent
$409,400
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 building - Multi-tenant office building in Stuart's business district with cash flow.
Where is this office building located?
The property is located at 2300 SE MONTEREY RD Stuart, FL.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: 100% Occupancy, providing Excellent Cash Flow; Premier Class ‘A’ Office Building in Stuart’s desirable Business District; Upgraded and renovated in recent years: New Metal Roof, HVAC systems, Exterior and Interior Painting, New Flooring
