Two-Story Office
For Sale
$649,900
2684 SE Willoughby Boulevard, Stuart, FL
Commercial Sale, Stuart, FL
Property Size2,400 SF
Lot Size0.03 Acres
Price / SF$270.79
Days on Market142
Property Features for 2684 SE Willoughby Boulevard
General Information
Property type
Residential
Property subtype
Office
Zoning
Commercial
Parking
60
Security features
Security System
Directions
95 to Kanner Highway, head east. Turn right at Indian St. Turn Left at Willoughby. Office Park is on the left 1/8 mile south of Monterrey. Building is in the back of the office park. Unit #2684.
Subdivision
6080 - Stuart - North of Indian St
Standard status
Active
APN
163841014001000800
Size
2,400 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT 8 - PH 1 - WILLOUGHBY BUSINESS CENTRE CONDO PER DOC IN OR 1936/1930
Tax Annual Amount
6730
Legal Description
UNIT 8 - PH 1 - WILLOUGHBY BUSINESS CENTRE CONDO PER DOC IN OR 1936/1930
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2004
Floors in Building
2
Flooring type
Carpet
Building materials
Concrete Block - With Stucco
Roof type
Barrel, Flat
Listing Agency:
Echo Fine Properties
(561) 500-3246
Listed By:
Howard Freedland · License #3482263
(561) 889-2735
Added: Apr 30
Changed: Sep 16
Last Checked: Sep 18 at 4:06PM
MLS# B26022235
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,400-square-foot condominium office unit is arranged across two levels for distinct presentation and administrative functions. The lower floor provides a presentation area and meeting room, while the upper floor includes private offices, a conference room, a full bath, and a kitchenette. Interior features include carpet flooring, central heating, and central air conditioning supported by two air conditioning units. The roof was replaced in 2018, and the property includes instant-hot water service.
The office is located at 2684 SE Willoughby Boulevard in Stuart, Florida. The building was constructed in 2004 with concrete block and stucco materials. Public water and public sewer serve the property, and cable is available.
The office is located at 2684 SE Willoughby Boulevard in Stuart, Florida. The building was constructed in 2004 with concrete block and stucco materials. Public water and public sewer serve the property, and cable is available.
Key Highlights
- 2400 square feet across two office levels
- Lower‑level presentation area and meeting room
- Upper level includes offices, conference room, full bath, and kitchenette
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
$30,326
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
4.67%
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%
$606,520
$606.5K
Cap Rate 7%
$433,229
$433.2K
Cap Rate 9%
$336,956
$337.0K
Market Conditions
NOI Build-Up for 2,400 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
$51.8K $21.60/SF
− Vacancy
−$11.4K −$4.75/SF
EGI
$40.4K $16.85/SF
− OpEx
−$10.1K −$4.21/SF
NOI
$30.3K $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%
$606,520
Cap Rate 7%
$433,229
Cap Rate 9%
$336,956
Alternative Uses
Best Use
Office B
$433.2K
$379.1K – $505.4K
NOI $30,326 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$630.5K
$551.7K – $735.6K
NOI $44,135 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,301
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Commercially zoned condo office with meeting, conference, and kitchenette areas.
Where is this office units located?
The property is located at 2684 SE Willoughby Boulevard Stuart, FL.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: 2400 square feet across two office levels; Lower‑level presentation area and meeting room; Upper level includes offices, conference room, full bath, and kitchenette
