Second-Floor Office
42 Business Centre Drive, Miramar Beach, FL 32550
For Sale
$329,000
Commercial for Sale, Miramar Beach, FL
Property Size1,425 SF
Price / SF$230.88
Days on Market147
Property Features for 42 Business Centre Drive
General Information
Property type
Property subtype
Directions
Subdivision
Standard status
APN
Taxes and HOA fees
Tax Description
Legal Description
Listing Agency:
Taylor Allen Properties LLC
(850) 259-2894
Listed By:
Brett D Stuart · License FL #678851
(850) 865-9123
Added: Jun 19
Changed: Oct 1
Last Checked: Nov 12 at 7:06AM
MLS# 1005816
Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1425 SF second-floor office unit occupies the northwest corner of the Summit Office building. Approximately half of the space is leased to Hear Again Amercia under a 5 year lease and includes three offices with a reception area. The remaining roughly 700 SF is available immediately, with two windowed offices, a third office, and a kitchen or break area.
The unit provides two separate doors to the hallway, while restrooms are located in the shared areas on the floor. The building is professionally managed, offering a straightforward office configuration with both existing tenancy and available space within the same suite.
The unit provides two separate doors to the hallway, while restrooms are located in the shared areas on the floor. The building is professionally managed, offering a straightforward office configuration with both existing tenancy and available space within the same suite.
Key Highlights
- 1425 SF second‑floor office unit in the Summit Office building
- 1/2 occupied by Hear Again Amercia with a 5 year lease
- Roughly 700 SF available for occupancy immediately
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,955
Cap Rate
5.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$359,100
$359.1K
Cap Rate 7%
$256,500
$256.5K
Cap Rate 9%
$199,500
$199.5K
Market Conditions
NOI Build-Up for 1,425 SF
Gross rent
$29.9K $21.00/SF
− Vacancy
−$6.0K −$4.20/SF
EGI
$23.9K $16.80/SF
− OpEx
−$6.0K −$4.20/SF
NOI
$18.0K $12.60/SF
Area
Walton County, FL
Vacancy
20.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$359,100
Cap Rate 7%
$256,500
Cap Rate 9%
$199,500
Alternative Uses
Best Use
Office B
$256.5K
$224.4K – $299.3K
NOI $17,955 @ 7.0% cap · market cap 5.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$358.4K
$313.6K – $418.1K
NOI $25,086 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
833
Businesses Nearby
Explore this area
Business Placement
Demographics for 32550, FL
7,828
Population
14,909
Households
0.5
Avg Household Size
58
Median Age
55%
College-Educated
98%
High-School Grad
7.0 sq mi
ZIP Area
1,118
Density / Sq Mi
$96,269
Median Household Income
$60,634
Median Earnings
$2,108
Median Rent
$679,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Walton County, FL
Properties on Market for Office Units in Walton County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Partially leased professional office unit with additional workspace available for immediate occupancy.
Where is this office unit located?
The property is located at 42 Business Centre Drive Miramar Beach, FL.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: 1425 SF second‑floor office unit in the Summit Office building; 1/2 occupied by Hear Again Amercia with a 5 year lease; Roughly 700 SF available for occupancy immediately
