Office Units with Private
New
For Sale
$950,000
42 Business Centre Drive UNIT 106, Miramar Beach, FL 32550
Configured with reception, conference, kitchen, restroom, workroom, and storage areas for professional operations.
Property Size4,294 SF
Price / SF$221.24
Days on Market4
Property Features for 42 Business Centre Drive UNIT 106
General Information
Standard status
Active
Size
4,294 SF
Class
Class A
Property subtype
COMMERCIAL
Amenities
reception area
conference rooms
kitchens
private bathroom
work room
storage rooms
built-in cabinets
two entrance doors
new AC units
Listing Agency:
Better Homes and Gardens Real Estate Coast Properties
(850) 502-0117
Listed By:
Bell Smith Team
Source:
Abbottmartingroup
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 30 at 3:02PM
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 Better Homes and Gardens Real Estate Coast Properties
Investment Insights
Based on property information with market context.
Located at 42 Business Centre Drive in Miramar Beach, this 4,294-square-foot office offering combines Units 106 and 112 behind two entrance doors. The layout includes a reception area with built-in cabinetry, 15 private offices, two conference rooms, two kitchens, a private bathroom, workroom, and storage rooms. Office sizes range from 7.5' x 9' to 11' x 13', while the conference rooms measure 18.5' x 15' and 18.5' x 24'.
Solid-wood built-in cabinets provide storage throughout many areas of the space. The HOA recently installed new AC units serving floors 1 through 3, adding updated building-system infrastructure to the office environment.
Solid-wood built-in cabinets provide storage throughout many areas of the space. The HOA recently installed new AC units serving floors 1 through 3, adding updated building-system infrastructure to the office environment.
Key Highlights
- 4,294 sq ft of office space across Units 106 and 112
- 15 private offices ranging from 7.5' x 9' to 11' x 13'
- Two conference rooms measuring 18.5' x 15' and 18.5' x 24'
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
$54,104
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
5.70%
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%
$1,082,080
$1.1M
Cap Rate 7%
$772,914
$772.9K
Cap Rate 9%
$601,156
$601.2K
Market Conditions
NOI Build-Up for 4,294 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
$90.2K $21.00/SF
− Vacancy
−$18.0K −$4.20/SF
EGI
$72.1K $16.80/SF
− OpEx
−$18.0K −$4.20/SF
NOI
$54.1K $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%
$1,082,080
Cap Rate 7%
$772,914
Cap Rate 9%
$601,156
Alternative Uses
Best Use
Office B
$772.9K
$676.3K – $901.7K
NOI $54,104 @ 7.0% cap · market cap 5.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$944.9K – $1.26M
NOI $75,592 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - Configured with reception, conference, kitchen, restroom, workroom, and storage areas for professional operations.
Where is this office units located?
The property is located at 42 Business Centre Drive UNIT 106 Miramar Beach, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 4,294 sq ft of office space across Units 106 and 112; 15 private offices ranging from 7.5' x 9' to 11' x 13'; Two conference rooms measuring 18.5' x 15' and 18.5' x 24'
