Purpose-Built NNN
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For Sale
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5006 Palm Coast Parkway Northwest, Palm Coast, FL 32137
Veterinary facility completed in 2020 with a single tenant and modern construction.
Property Size6,818 SF
Price / SF$462.01
Days on Market6
Property Features for 5006 Palm Coast Parkway Northwest
General Information
Standard status
Active
Size
6,818 SF
Class
A
Property subtype
Office, Special Purpose
Zoning
COM-2
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$211,983
Additional Details
Highway Access
Yes
Building Details
Year Built
2020
Buildings
1
Tenancy
Single
Building Size
6,818 SF
Owner Occupied
No
Listing Agency:
Wisdom Capital Group
Listed By:
Robert Wisdom · License #BK3485707
Source:
Crexi
Added: Aug 6
Changed: Aug 10
Last Checked: Aug 10 at 3:55AM
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 Wisdom Capital Group
Investment Insights
Based on property information with market context.
This 6,818 SF veterinary facility was completed in 2020 as a build-to-suit for its current occupant. The single-tenant property features modern construction, including a steel roof, and is leased under a triple-net structure to VetCor, a veterinary operator with approximately 900 locations and more than 15,000 employees. The lease has just over five and a half years remaining and provides 2% annual rent escalations.
Located at 5006 Palm Coast Parkway Northwest in Palm Coast, the property sits between U.S. Highway 1 and Interstate 95 within a major retail corridor. The site records approximately 24,072 vehicles passing daily and is surrounded by retailers including Publix, Walmart, and Chick-fil-A. Zoning is COM-2.
Located at 5006 Palm Coast Parkway Northwest in Palm Coast, the property sits between U.S. Highway 1 and Interstate 95 within a major retail corridor. The site records approximately 24,072 vehicles passing daily and is surrounded by retailers including Publix, Walmart, and Chick-fil-A. Zoning is COM-2.
Key Highlights
- 6,818 SF veterinary facility completed in 2020
- Build‑to‑suit construction with a steel roof
- Triple‑net lease to VetCor, with just over five and a half years remaining
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
$95,339
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
3.03%
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%
$1,906,780
$1.9M
Cap Rate 7%
$1,361,986
$1.4M
Cap Rate 9%
$1,059,322
$1.1M
Market Conditions
NOI Build-Up for 6,818 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
$177.5K $26.04/SF
− Vacancy
−$18.6K −$2.73/SF
EGI
$158.9K $23.31/SF
− OpEx
−$63.6K −$9.32/SF
NOI
$95.3K $13.98/SF
Area
Flagler County, FL
Vacancy
10.50%
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%
$1,906,780
Cap Rate 7%
$1,361,986
Cap Rate 9%
$1,059,322
Alternative Uses
Best Use
Healthcare Medical
$1.36M
$1.19M – $1.59M
NOI $95,339 @ 7.0% cap · market cap 3.03%
Second Best
Office B
$1.13M
$987.2K – $1.32M
NOI $78,973 @ 7.0% cap · market cap 2.51%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,690 @ 7.0% cap · market cap 3.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
612
Businesses Nearby
Explore this area
Business Placement
Demographics for 32137, FL
46,258
Population
24,717
Households
1.9
Avg Household Size
57
Median Age
37%
College-Educated
95%
High-School Grad
62.4 sq mi
ZIP Area
741
Density / Sq Mi
$78,731
Median Household Income
$42,249
Median Earnings
$1,790
Median Rent
$360,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - Veterinary facility completed in 2020 with a single tenant and modern construction.
Where is this nnn property located?
The property is located at 5006 Palm Coast Parkway Northwest Palm Coast, FL.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: 6,818 SF veterinary facility completed in 2020; Build‑to‑suit construction with a steel roof; Triple‑net lease to VetCor, with just over five and a half years remaining
