Highway 87 Commercial
For Sale
Contact for pricing
Pending
2495 Hwy 87, Navarre, FL
7,500 SF commercial property on Highway 87 for sale.
Property Size7,500 SF
Lot Size1.45 Acres
Days on Market370
Property Features for 2495 Hwy 87
General Information
Standard status
Pending
Size
7,500 SF
Lot size
1.45 Acres
Property subtype
OFFICE
Listing Agency:
Salter Commercial LLC
(850) 501-9101
Listed By:
Trey Potts · License #BK3539177
(850) 501-9101
Source:
Moodyscre
Added: Aug 19, 2025
Changed: Aug 8
Last Checked: Aug 22 at 12:13PM
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 Salter Commercial LLC
Investment Insights
Based on property information with market context.
This 7,500 square foot commercial property is located directly on Highway 87, a busy traffic corridor with an Annual Average Daily Traffic of 23,500. The property features an open floor plan suitable for various business uses and a perimeter office build-out. It offers high visibility and easy access from Highway 87, along with ample parking with 78 stalls. The layout provides flexible options, making it suitable for a medical office, retail space, or professional services. This property is positioned to provide the exposure and functionality needed for business operations.
Key Highlights
- Directly on Highway 87 with high visibility and easy access.
- High traffic location with 23,500 AADT.
- 7,500 square foot versatile commercial property.**
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
$105,228
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
7.02%
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%
$2,104,560
$2.1M
Cap Rate 7%
$1,503,257
$1.5M
Cap Rate 9%
$1,169,200
$1.2M
Market Conditions
NOI Build-Up for 7,500 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
$195.3K $26.04/SF
− Vacancy
−$19.9K −$2.66/SF
EGI
$175.4K $23.38/SF
− OpEx
−$70.2K −$9.35/SF
NOI
$105.2K $14.03/SF
Area
Santa Rosa County, FL
Vacancy
10.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
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%
$2,104,560
Cap Rate 7%
$1,503,257
Cap Rate 9%
$1,169,200
Alternative Uses
Best Use
Healthcare Medical
$1.50M
$1.32M – $1.75M
NOI $105,228 @ 7.0% cap · market cap 7.02%
Second Best
Office B
$1.27M
$1.11M – $1.48M
NOI $88,560 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$1.85M
$1.62M – $2.15M
NOI $129,276 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
151
Businesses Nearby
Explore this area
Business Placement
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 - 7,500 SF commercial property on Highway 87 for sale.
Where is this office units located?
The property is located at 2495 Hwy 87 Navarre, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Directly on Highway 87 with high visibility and easy access.; High traffic location with 23,500 AADT.; 7,500 square foot versatile commercial property.**
