Second-Floor Office
For Sale
$329,000
42 Business Centre Dr Unit 203, Miramar Beach, FL 32550
Partially leased suite with additional office space available immediately.
Property Size1,425 SF
Price / SF$230.88
Days on Market41
Property Features for 42 Business Centre Dr Unit 203
General Information
Standard status
Active
Size
1,425 SF
Occupancy
50%
Additional Details
Floor
2
Listing Agency:
Taylor Allen Properties LLC
(850) 865-9123
Listed By:
Brett D Stuart · License #678851
Source:
Kimandcompany
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 25 at 4:57AM
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 Taylor Allen Properties LLC
Investment Insights
Based on property information with market context.
This 1,425 SF office unit occupies the northwest corner on the second floor of the Summit Office building. Approximately half of the suite is subject to a 5-year lease and includes three private offices plus a reception area. The remaining roughly 700 SF is available for immediate occupancy and provides two windowed offices, a third office, and a kitchen or break area. Two doors connect the available space to the hallway.
The building is professionally managed, with restrooms located in the common areas of the floor. The property is situated at 42 Business Centre Dr in Miramar Beach, Florida.
The building is professionally managed, with restrooms located in the common areas of the floor. The property is situated at 42 Business Centre Dr in Miramar Beach, Florida.
Key Highlights
- 1,425 SF second‑floor office unit in the northwest corner of Summit Office
- Approximately 700 SF available for immediate occupancy
- Approximately half of the suite is subject to a 5‑year lease
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
$17,955
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
5.46%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
50%
Occupancy
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Partially leased suite with additional office space available immediately.
Where is this office units located?
The property is located at 42 Business Centre Dr Unit 203 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: 1,425 SF second‑floor office unit in the northwest corner of Summit Office; Approximately 700 SF available for immediate occupancy; Approximately half of the suite is subject to a 5‑year lease
