Flex Space with
For Sale
Contact for pricing
Pending
3480 Gulf Breeze Pkwy, Gulf Breeze, FL 32563
HCD Commercial zoning supports a broad range of business uses.
Property Size7,400 SF
Days on Market106
Property Features for 3480 Gulf Breeze Pkwy
General Information
Standard status
Pending
Size
7,400 SF
Property subtype
RETAIL
Zoning
HCD Commercial
Additional Details
Road Access
Yes
Building Details
Building Size
7,400 SF
Listing Agency:
Salter Commercial LLC
(850) 232-5371
Listed By:
Paul Salter, CCIM · License #9011
(850) 232-5371
Source:
Moodyscre
Added: May 18
Changed: Aug 31
Last Checked: Aug 31 at 1:03PM
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 flex space contains 7400 SF in a combination of customer-facing and back-of-house areas. The front portion includes 3540 SF of heated/cooled showroom and office space, while the balance is configured as rear storage and warehouse space. An existing pool and spa business is relocating to its main Pensacola location.
The property is located on Gulf Breeze Pkwy in Gulf Breeze, Florida, placing the building along a corridor identified for business traffic. HCD Commercial zoning provides a commercial framework suited to a wide range of business operations. The combination of conditioned showroom and office areas with enclosed rear storage creates a practical format for an operator needing both public-facing space and inventory or work areas.
The property is located on Gulf Breeze Pkwy in Gulf Breeze, Florida, placing the building along a corridor identified for business traffic. HCD Commercial zoning provides a commercial framework suited to a wide range of business operations. The combination of conditioned showroom and office areas with enclosed rear storage creates a practical format for an operator needing both public-facing space and inventory or work areas.
Key Highlights
- 7400 SF flex‑space building
- 3540 SF of heated/cooled showroom and office area
- Rear portion configured for storage and warehouse use
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
$70,242
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
9.18%
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%
$1,404,840
$1.4M
Cap Rate 7%
$1,003,457
$1.0M
Cap Rate 9%
$780,467
$780.5K
Market Conditions
NOI Build-Up for 7,400 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
$118.1K $15.96/SF
− Vacancy
−$10.0K −$1.36/SF
EGI
$108.1K $14.60/SF
− OpEx
−$37.8K −$5.11/SF
NOI
$70.2K $9.49/SF
Area
Santa Rosa County, FL
Vacancy
8.50%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
35.00%
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%
$1,404,840
Cap Rate 7%
$1,003,457
Cap Rate 9%
$780,467
Alternative Uses
Best Use
Flex RnD
$1.00M
$878.0K – $1.17M
NOI $70,242 @ 7.0% cap · market cap 9.18%
Second Best
Warehouse
$633.8K
$554.6K – $739.4K
NOI $44,364 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$1.82M
$1.59M – $2.13M
NOI $127,552 @ 7.0% cap · market cap 16.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
436
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32563, FL
27,329
Population
12,883
Households
2.1
Avg Household Size
43
Median Age
40%
College-Educated
95%
High-School Grad
16.6 sq mi
ZIP Area
1,646
Density / Sq Mi
$97,139
Median Household Income
$41,647
Median Earnings
$1,692
Median Rent
$362,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - HCD Commercial zoning supports a broad range of business uses.
Where is this flex space located?
The property is located at 3480 Gulf Breeze Pkwy Gulf Breeze, FL.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: 7400 SF flex‑space building; 3540 SF of heated/cooled showroom and office area; Rear portion configured for storage and warehouse use
