Private-Office
New
For Sale
$135,000
323 Page Bacon Rd #5, Mary Esther, FL 32569
C-2 zoning supports a range of commercial and professional uses in this multi-room office suite.
Property Size871 SF
Price / SF$154.99
Days on Market5
Property Features for 323 Page Bacon Rd #5
General Information
Standard status
Active
Size
871 SF
Property subtype
Commercial
Zoning
C-2
Additional Details
Highway Access
Yes
Office Units
1
Amenities
private restroom
Listing Agency:
RE/MAX Coastal Properties
Listed By:
Delawalla Group
(850) 225-9899
Source:
Bestofemeraldcoast
Added: Sep 30
Changed: Oct 3
Last Checked: Oct 2 at 8:32PM
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 RE/MAX Coastal Properties
Investment Insights
Based on property information with market context.
Unit 5 is an 844-square-foot office suite in Park Place Plaza, with three enclosed offices, two larger flexible rooms, a reception area, and a private restroom. Recent interior updates include fresh paint and new flooring. The suite is positioned along a breezeway on the left side of the complex.
The property is on Page Bacon Road in Mary Esther, near Highway 98, residential neighborhoods, and established commercial activity. Page Bacon Road carries approximately 22,500 vehicles per day. C-2 zoning accommodates a range of commercial and professional uses.
The property is on Page Bacon Road in Mary Esther, near Highway 98, residential neighborhoods, and established commercial activity. Page Bacon Road carries approximately 22,500 vehicles per day. C-2 zoning accommodates a range of commercial and professional uses.
Key Highlights
- 844‑square‑foot office suite in Park Place Plaza
- Three private offices, two open rooms, reception area, and private restroom
- C‑2 zoning supports a range of commercial and professional uses
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
$11,249
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
8.33%
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%
$224,980
$225.0K
Cap Rate 7%
$160,700
$160.7K
Cap Rate 9%
$124,989
$125.0K
Market Conditions
NOI Build-Up for 871 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
$18.3K $21.00/SF
− Vacancy
−$3.3K −$3.78/SF
EGI
$15.0K $17.22/SF
− OpEx
−$3.7K −$4.31/SF
NOI
$11.2K $12.92/SF
Area
Okaloosa County, FL
Vacancy
18.00%
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%
$224,980
Cap Rate 7%
$160,700
Cap Rate 9%
$124,989
Alternative Uses
Best Use
Office B
$160.7K
$140.6K – $187.5K
NOI $11,249 @ 7.0% cap · market cap 8.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$335.7K
$293.7K – $391.6K
NOI $23,496 @ 7.0% cap · market cap 17.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,037
Businesses Nearby
Explore this area
Business Placement
Demographics for 32569, FL
12,378
Population
5,795
Households
2.1
Avg Household Size
38
Median Age
40%
College-Educated
95%
High-School Grad
4.2 sq mi
ZIP Area
2,947
Density / Sq Mi
$73,762
Median Household Income
$43,832
Median Earnings
$1,456
Median Rent
$296,400
Median Home Value
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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 - C-2 zoning supports a range of commercial and professional uses in this multi-room office suite.
Where is this office units located?
The property is located at 323 Page Bacon Rd #5 Mary Esther, FL.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: 844‑square‑foot office suite in Park Place Plaza; Three private offices, two open rooms, reception area, and private restroom; C‑2 zoning supports a range of commercial and professional uses
