Office Condo with Private
397 Palm Coast Parkway Sw 1 # 1, Palm Coast, FL 32137
For Sale
New
$475,000
Medical and general professional office use is supported within this finished, end-position unit on Palm Coast Parkway.
Property Size1,031 SF
Price / SF$460.72
Days on Market4
Property Features for 397 Palm Coast Parkway Sw 1 # 1
General Information
Standard status
Size
Zoning
Additional Details
Condition
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
Carpet,Tile
1
No
Yes
Few Trees
0.02
Parking Lot
Building Details
Year Built
Stories
Listing Agency:
HERRON REAL ESTATE LLC
(904) 729-4313
Listed By:
ATWAUL BENNETT · License FL #3465324
(678) 894-9744
Source:
Omalleyrealestate
Added: Nov 6
Last Checked: Nov 8 at 9:21AM
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 HERRON REAL ESTATE LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,031-square-foot office condominium, built in 2006, is configured with a reception area and five enclosed offices. Interior features include a tray ceiling at reception, multiple windows, double glass entry doors, a sink cabinet and a handicap-accessible restroom. The unit is built out for medical or general professional office use, with Professional/Office zoning.
Situated on Palm Coast Parkway in Palm Coast, the end-position suite has a parking lot and an entry framed by pillars.
Situated on Palm Coast Parkway in Palm Coast, the end-position suite has a parking lot and an entry framed by pillars.
Key Highlights
- 1,031 SF office condominium with five private offices
- Configured for medical or general professional office use
- Reception area features a tray ceiling
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,417
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$288,340
$288.3K
Cap Rate 7%
$205,957
$206.0K
Cap Rate 9%
$160,189
$160.2K
Market Conditions
NOI Build-Up for 1,031 SF
Gross rent
$26.8K $26.04/SF
− Vacancy
−$2.8K −$2.73/SF
EGI
$24.0K $23.31/SF
− OpEx
−$9.6K −$9.32/SF
NOI
$14.4K $13.98/SF
Area
Flagler County, FL
Vacancy
10.50%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$288,340
Cap Rate 7%
$205,957
Cap Rate 9%
$160,189
Alternative Uses
Best Use
Healthcare Medical
$206.0K
$180.2K – $240.3K
NOI $14,417 @ 7.0% cap · market cap 3.04%
Second Best
Office B
$170.6K
$149.3K – $199.0K
NOI $11,942 @ 7.0% cap · market cap 2.51%
Theoretical Best
Office A
$247.8K
$216.8K – $289.1K
NOI $17,343 @ 7.0% cap · market cap 3.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
99
Businesses Nearby
Explore this area
Business Placement
Demographics for 32137, FL
46,258
Population
24,717
Households
1.9
Avg Household Size
57
Median Age
37%
College-Educated
95%
High-School Grad
62.4 sq mi
ZIP Area
741
Density / Sq Mi
$78,731
Median Household Income
$42,249
Median Earnings
$1,790
Median Rent
$360,600
Median Home Value
Market
Average Price Trend$/SF for Office Units in Palm Coast, FL
Properties on Market for Office Units in Palm Coast
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Medical and general professional office use is supported within this finished, end-position unit on Palm Coast Parkway.
Where is this office unit located?
The property is located at 397 Palm Coast Parkway Sw 1 # 1 Palm Coast, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1,031 SF office condominium with five private offices; Configured for medical or general professional office use; Reception area features a tray ceiling
