Building Details

Year Built 2006

Stories 2

Listing Agency: RE/MAX Masterpiece Realty n***@remaxmasterpiecerealty.com Show Phone

Listed By: Jay N Keller · License #400179 Show Phone

Source: Lehmannflorida

Added: Oct 20 Changed: Oct 23 Last Checked: Oct 23 at 4:15AM

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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 RE/MAX Masterpiece Realty

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Investment Insights

Based on property information with market context.

This 2,164-square-foot flex space in Palm City was built in 2006 and spans two stories. The first floor includes a rear 10-by-12-foot roll-up door, a work and storage room, a bathroom, and a refreshment area with a refrigerator and sink. Upstairs are two offices, a meeting room, and a separate conference room, along with another refreshment area equipped with a refrigerator and sink.

Desks, workstations, and conference furnishings are in place; the furniture is negotiable. The unit is located within a mixed-use commercial complex and can be occupied as a single space or arranged for separate use of the upper and lower floors.

Key Highlights

• 2,164‑square‑foot flex space in a mixed‑use commercial complex
• Two‑story configuration with office, meeting, work, and storage areas
• Rear 10‑by‑12‑foot roll‑up door

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,006

Cap Rate

7.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$700,120 $700.1K

Cap Rate 7%

$500,086 $500.1K

Cap Rate 9%

$388,956 $389.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,164 SF

Gross rent

$43.6K $20.16/SF

− Vacancy

−$2.4K −$1.13/SF

EGI

$41.2K $19.03/SF

− OpEx

−$6.2K −$2.85/SF

NOI

$35.0K $16.18/SF

Area

Martin County, FL

Vacancy

5.60%

Lease Rate

$20.16 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$700,120

Cap Rate 7%

$500,086

Cap Rate 9%

$388,956

Alternative Uses

Best Use

Warehouse

$500.1K

$437.6K – $583.4K (±1% cap)

NOI $35,006 @ 7.0% cap · market cap 7.00%

Second Best

Industrial

$411.8K

$360.4K – $480.5K (±1% cap)

NOI $28,828 @ 7.0% cap · market cap 5.77%

Theoretical Best

Retail

$568.5K

$497.4K – $663.3K (±1% cap)

NOI $39,795 @ 7.0% cap · market cap 7.96%

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

Schaefer Fagan & Associates In Civil Engineer Green Gas Sustainability Organization 24Hours inc General Contractor

Suggested Use

Top Pick Restaurant Building Supply Dental Office Big Box & Wholesale Store Pharmacy Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

194

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 34990, FL

31,160

Population

13,641

Households

2.3

Avg Household Size

51

Median Age

49%

College-Educated

97%

High-School Grad

103.0 sq mi

ZIP Area

303

Density / Sq Mi

$120,407

Median Household Income

$56,905

Median Earnings

$1,958

Median Rent

$558,300

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - A mixed-use commercial complex unit combines office areas with a ground-level work and storage area.

Where is this flex space located?

The property is located at 4251 SW HIGH MEADOWS Avenue Palm City, FL.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: 2,164‑square‑foot flex space in a mixed‑use commercial complex; Two‑story configuration with office, meeting, work, and storage areas; Rear 10‑by‑12‑foot roll‑up door