Flex Office Condo with Maintenance
For Sale
$555,000
391 Baker Road, Stuart, FL 34994
Commercial flex condo in Avonlea Commerce Center, offered with both units at 391 and 393 NE Baker Road.
Property Size1,840 SF
Price / SF$301.63
Days on Market3511
Property Features for 391 Baker Road
General Information
Standard status
Active
Size
1,840 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$1,531
Amenities
Central Air, Electric, Ceiling Fan(s)
3
Ceramic Tile, Concrete
Built Up
3 Parking Spaces.
Building Details
Year Built
2001
Listing Agency:
RE/MAX Select Group
Listed By:
Patrick Stracuzzi · License #B26054716
(772) 283-9991
Source:
Xome
Added: Jan 24, 2017
Changed: Sep 1
Last Checked: Sep 5 at 4:28AM
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 Select Group
Investment Insights
Based on property information with market context.
Commercial condo flex space in the Avonlea Commerce Center at Jensen Beach, sold with both 391 and 393 NE Baker Road. The offering is configured for flexible use with office/work space suitable for remote meeting needs, with living potential referenced in the remarks.
The sale includes maintenance fees described as inclusive of building insurance, exterior lighting, lawn maintenance, water, property maintenance, fire monitoring, dumpster collection, and reserves, all noted at $500 monthly.
This is a for-sale flex space condominium within a multi-unit commercial center, with shared building services covered under the stated maintenance structure.
The sale includes maintenance fees described as inclusive of building insurance, exterior lighting, lawn maintenance, water, property maintenance, fire monitoring, dumpster collection, and reserves, all noted at $500 monthly.
This is a for-sale flex space condominium within a multi-unit commercial center, with shared building services covered under the stated maintenance structure.
Key Highlights
- Commercial flex condo in Avonlea Commerce Center (Jensen Beach)
- Sale includes both units: 391 and 393 NE Baker Rd
- Built in 2001
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
$24,512
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
4.42%
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%
$490,240
$490.2K
Cap Rate 7%
$350,171
$350.2K
Cap Rate 9%
$272,356
$272.4K
Market Conditions
NOI Build-Up for 1,840 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
$37.1K $20.16/SF
− Vacancy
−$2.1K −$1.13/SF
EGI
$35.0K $19.03/SF
− OpEx
−$10.5K −$5.71/SF
NOI
$24.5K $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%
$490,240
Cap Rate 7%
$350,171
Cap Rate 9%
$272,356
Alternative Uses
Best Use
Industrial
$350.2K
$306.4K – $408.5K
NOI $24,512 @ 7.0% cap · market cap 4.42%
Second Best
Office B
$332.1K
$290.6K – $387.5K
NOI $23,250 @ 7.0% cap · market cap 4.19%
Theoretical Best
Retail
$483.4K
$423.0K – $564.0K
NOI $33,837 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
749
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial flex condo in Avonlea Commerce Center, offered with both units at 391 and 393 NE Baker Road.
Where is this flex space located?
The property is located at 391 Baker Road Stuart, FL.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: Commercial flex condo in Avonlea Commerce Center (Jensen Beach); Sale includes both units: 391 and 393 NE Baker Rd; Built in 2001
