Freestanding Professional Office
For Sale
$3,495,000
3465 Willoughby Boulevard, Stuart, FL 34994
Built in 2006, the property includes central air and 25 parking spaces.
Property Size6,670 SF
Price / SF$245.01
Days on Market12
Property Features for 3465 Willoughby Boulevard
General Information
Standard status
Active
Size
6,670 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$34,643
Amenities
Central Air
3
25 Parking Spaces.
Building Details
Year Built
2006
Buildings
1
Building Size
6,670 SF
Tenancy
Single
Listing Agency:
NAI Southcoast
(772) 631-4248
Listed By:
Reid Armor · License ##SL3328981
(772) 631-4248
Source:
Xome
Added: Aug 18
Changed: Aug 29
Last Checked: Aug 29 at 1:24PM
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 NAI Southcoast
Investment Insights
Based on property information with market context.
This freestanding professional office property was constructed in 2006 and contains approximately 6,670 square feet. Central air supports the building, while 25 parking spaces provide on-site parking for occupants and visitors. The property is positioned for continued office use and has served a long-term tenant for approximately eighteen years.
The building is located in Stuart within a governmental and professional office corridor, with nearby Martin County administrative departments. Access to US-1, Kanner Highway, I-95, and Florida's Turnpike connects the property with surrounding commercial areas, including development near Cleveland Clinic and Costco.
The existing tenant has indicated a willingness to relocate with adequate notice, presenting flexibility for an owner-user or continued occupancy by an office tenant.
The building is located in Stuart within a governmental and professional office corridor, with nearby Martin County administrative departments. Access to US-1, Kanner Highway, I-95, and Florida's Turnpike connects the property with surrounding commercial areas, including development near Cleveland Clinic and Costco.
The existing tenant has indicated a willingness to relocate with adequate notice, presenting flexibility for an owner-user or continued occupancy by an office tenant.
Key Highlights
- Approximately 6,670 square feet of office space
- Freestanding building constructed in 2006
- Central air conditioning
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
$180,253
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
5.16%
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%
$3,605,060
$3.6M
Cap Rate 7%
$2,575,043
$2.6M
Cap Rate 9%
$2,002,811
$2.0M
Market Conditions
NOI Build-Up for 14,265 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
$308.1K $21.60/SF
− Vacancy
−$67.8K −$4.75/SF
EGI
$240.3K $16.85/SF
− OpEx
−$60.1K −$4.21/SF
NOI
$180.3K $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%
$3,605,060
Cap Rate 7%
$2,575,043
Cap Rate 9%
$2,002,811
Alternative Uses
Best Use
Office B
$2.58M
$2.25M – $3.00M
NOI $180,253 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$3.75M
$3.28M – $4.37M
NOI $262,329 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Built in 2006, the property includes central air and 25 parking spaces.
Where is this office building located?
The property is located at 3465 Willoughby Boulevard Stuart, FL.
What is the asking price?
The asking price for this property is $3,495,000.
What are key features of this property?
This property features: Approximately 6,670 square feet of office space; Freestanding building constructed in 2006; Central air conditioning
