Freestanding Medical
For Sale
$250,000
4542 Alba St, Pace, FL 32571
Neighborhood Commercial-zoned medical office with on-site parking and monument signage.
Property Size1,563 SF
Days on Market8
Property Features for 4542 Alba St
General Information
Standard status
Active
Size
1,563 SF
Class
C
Property subtype
Office
Building Details
Building Size
1,563 SF
Year Built
1965
Listing Agency:
Bellcore Commercial LLC
(850) 503-3005
Listed By:
Melissa Simpson, CCIM · License #FL #BK3338591
(850) 503-3005
Source:
Bellcorecommercial
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 31 at 2:25PM
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 Bellcore Commercial LLC
Investment Insights
Based on property information with market context.
This freestanding medical office property was built in 1965 and occupies a 0.41-acre site in Pace, Florida. The property includes an on-site parking lot and monument signage, supporting identification and access for users and visitors.
The site is positioned near the intersection of US Hwy 90 and West Spencer Field Rd. Commercial properties are located to the north, while a residential neighborhood lies to the south. Neighborhood Commercial zoning and the surrounding mix of uses provide the documented setting for this medical office asset.
The site is positioned near the intersection of US Hwy 90 and West Spencer Field Rd. Commercial properties are located to the north, while a residential neighborhood lies to the south. Neighborhood Commercial zoning and the surrounding mix of uses provide the documented setting for this medical office asset.
Key Highlights
- 0.41‑acre medical office site in Pace, FL
- Freestanding building constructed in 1965
- Zoned Neighborhood Commercial
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
$21,929
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
8.77%
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%
$438,580
$438.6K
Cap Rate 7%
$313,271
$313.3K
Cap Rate 9%
$243,656
$243.7K
Market Conditions
NOI Build-Up for 1,563 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
$40.7K $26.04/SF
− Vacancy
−$4.2K −$2.66/SF
EGI
$36.5K $23.38/SF
− OpEx
−$14.6K −$9.35/SF
NOI
$21.9K $14.03/SF
Area
Santa Rosa County, FL
Vacancy
10.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
40.00%
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%
$438,580
Cap Rate 7%
$313,271
Cap Rate 9%
$243,656
Alternative Uses
Best Use
Healthcare Medical
$313.3K
$274.1K – $365.5K
NOI $21,929 @ 7.0% cap · market cap 8.77%
Second Best
Office B
$263.7K
$230.7K – $307.6K
NOI $18,456 @ 7.0% cap · market cap 7.38%
Theoretical Best
Office A
$384.9K
$336.8K – $449.0K
NOI $26,941 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
341
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32571, FL
38,885
Population
15,041
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
93%
High-School Grad
112.6 sq mi
ZIP Area
345
Density / Sq Mi
$89,137
Median Household Income
$46,400
Median Earnings
$1,186
Median Rent
$281,600
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?
Medical Office Space - Neighborhood Commercial-zoned medical office with on-site parking and monument signage.
Where is this medical office space located?
The property is located at 4542 Alba St Pace, FL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 0.41‑acre medical office site in Pace, FL; Freestanding building constructed in 1965; Zoned Neighborhood Commercial
