Professional Office
For Sale
$329,000
42 Business Centre Drive 203, Miramar Beach, FL 32550
Second-floor office unit offers a mix of leased and immediately available workspace.
Property Size1,425 SF
Price / SF$230.88
Days on Market47
Property Features for 42 Business Centre Drive 203
General Information
Standard status
Active
Size
1,425 SF
Property subtype
COMMERCIAL
Occupancy
50%
Additional Details
Floor
2
Office Units
1
Listing Agency:
Taylor Allen Properties LLC
(850) 865-9123
Listed By:
Brett D Stuart · License #678851
Source:
Abbottmartingroup
Added: Jun 19
Changed: Aug 3
Last Checked: Aug 3 at 11:19AM
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 second-floor office unit occupies the northwest corner of the Summit Office building at 42 Business Centre Drive in Miramar Beach. Approximately half of the suite is subject to a 5-year lease and includes three offices and a reception area. The balance provides roughly 700 SF for immediate occupancy, with 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 unit’s combination of existing leased space and separately configured offices supports both ongoing occupancy and near-term use within a single professional office setting.
The building is professionally managed, with restrooms located in the common areas of the floor. The unit’s combination of existing leased space and separately configured offices supports both ongoing occupancy and near-term use within a single professional office setting.
Key Highlights
- 1,425 SF second‑floor office unit in the Summit Office building
- Approximately half of the space is leased under a 5‑year lease
- Roughly 700 SF available for immediate occupancy
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.9k | $21.00 |
| − Vacancy | −$6.0k | −$4.20 |
| EGI | $23.9k | $16.80 |
| − OpEx | −$6.0k | −$4.20 |
| NOI | $18.0k | $12.60 |
1,425 SF · lease $21.00/SF/yr · vacancy 20.00% · expense 25.00%
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
Current Use
Lease Details
1
Office units
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 - Second-floor office unit offers a mix of leased and immediately available workspace.
Where is this office units located?
The property is located at 42 Business Centre Drive 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 Summit Office building; Approximately half of the space is leased under a 5‑year lease; Roughly 700 SF available for immediate occupancy
