Flex Office/Industrial Space
For Sale
$3,997,000
2580 Willoughby Boulevard, Stuart, FL 34994
Flex office/industrial space with classrooms, gym, playground, and parking.
Property Size17,845 SF
Price / SF$223.98
Days on Market191
Property Features for 2580 Willoughby Boulevard
General Information
Standard status
Active
Size
17,845 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$718
Amenities
Central Air
3
Vinyl, Carpet
Metal
43 Parking Spaces.
Building Details
Year Built
2006
Listing Agency:
Hartman Real Estate
(772) 260-2537
Listed By:
The Brokerage Treasure Coast · License #3009625
(772) 260-2537
Source:
Xome
Added: Feb 14
Changed: Aug 23
Last Checked: Aug 24 at 4:12AM
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 Hartman Real Estate
Investment Insights
Based on property information with market context.
This property presents an opportunity for flex office or industrial use. Currently operating as a school, the property features 9 classrooms, an indoor gym with 3 roll-up bay doors, and an outdoor playground. The site is fully fenced and includes a remote-gated entry. Multiple offices, conference rooms, bathrooms, and a kitchen are present. The property provides 43 parking spaces. The location is situated off Willoughby. The bike score is 60, indicating it is bikeable, and the walk score is 65, suggesting it is somewhat walkable.
Key Highlights
- Flex office/industrial space opportunity.
- Prime location right off Willoughby.
- Indoor gym with 3 roll‑up bay doors.
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
$237,726
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
5.95%
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%
$4,754,520
$4.8M
Cap Rate 7%
$3,396,086
$3.4M
Cap Rate 9%
$2,641,400
$2.6M
Market Conditions
NOI Build-Up for 17,845 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
$359.8K $20.16/SF
− Vacancy
−$20.1K −$1.13/SF
EGI
$339.6K $19.03/SF
− OpEx
−$101.9K −$5.71/SF
NOI
$237.7K $13.32/SF
Area
Martin County, FL
Vacancy
5.60%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
30.00%
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%
$4,754,520
Cap Rate 7%
$3,396,086
Cap Rate 9%
$2,641,400
Alternative Uses
Best Use
Industrial
$3.40M
$2.97M – $3.96M
NOI $237,726 @ 7.0% cap · market cap 5.95%
Second Best
Flex RnD
$2.37M
$2.07M – $2.76M
NOI $165,637 @ 7.0% cap · market cap 4.14%
Theoretical Best
Retail
$4.69M
$4.10M – $5.47M
NOI $328,164 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,028
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34994, FL
17,843
Population
10,086
Households
1.8
Avg Household Size
51
Median Age
36%
College-Educated
92%
High-School Grad
6.7 sq mi
ZIP Area
2,663
Density / Sq Mi
$62,895
Median Household Income
$33,547
Median Earnings
$1,558
Median Rent
$248,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Flex office/industrial space with classrooms, gym, playground, and parking.
Where is this flex space located?
The property is located at 2580 Willoughby Boulevard Stuart, FL.
What is the asking price?
The asking price for this property is $3,997,000.
What are key features of this property?
This property features: Flex office/industrial space opportunity.; Prime location right off Willoughby.; Indoor gym with **3 roll‑up bay doors.**
