Second-Floor Office
42 Business Centre Drive, Miramar Beach, FL 32550
For Sale
$339,000
Commercial for Sale, Miramar Beach, FL
Property Size1,475 SF
Price / SF$229.83
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# 1005813
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 1475 SF office unit occupies the second floor of the Summit Office building, positioned near the elevator in the building’s southwest corner. The interior includes six offices with windows, a substantial open area with built-in cabinetry, and several storage rooms. Floor-to-ceiling windows are featured in several of the offices, bringing natural light into the workspace.
The property is located at 42 Business Centre Drive in Miramar Beach, Florida, within Walton County. Its combination of enclosed offices, open workspace, cabinetry, and storage provides a clearly defined office configuration for professional use.
The property is located at 42 Business Centre Drive in Miramar Beach, Florida, within Walton County. Its combination of enclosed offices, open workspace, cabinetry, and storage provides a clearly defined office configuration for professional use.
Key Highlights
- 1475 SF second‑floor office unit in the Summit Office building
- Six windowed offices plus a large open area
- Built‑in cabinetry within the open workspace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,585
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$371,700
$371.7K
Cap Rate 7%
$265,500
$265.5K
Cap Rate 9%
$206,500
$206.5K
Market Conditions
NOI Build-Up for 1,475 SF
Gross rent
$31.0K $21.00/SF
− Vacancy
−$6.2K −$4.20/SF
EGI
$24.8K $16.80/SF
− OpEx
−$6.2K −$4.20/SF
NOI
$18.6K $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%
$371,700
Cap Rate 7%
$265,500
Cap Rate 9%
$206,500
Alternative Uses
Best Use
Office B
$265.5K
$232.3K – $309.8K
NOI $18,585 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$370.9K
$324.6K – $432.8K
NOI $25,966 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
884
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 - Six windowed offices, an open work area, built-in cabinetry, and storage rooms create a practical professional layout.
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 $339,000.
What are key features of this property?
This property features: 1475 SF second‑floor office unit in the Summit Office building; Six windowed offices plus a large open area; Built‑in cabinetry within the open workspace
