Two-Story Office
For Sale
$749,000
5055 N OCEAN SHORE Blvd, Palm Coast, FL 32137
Masonry office property with accessible entry, private offices, conference space, kitchenette, and covered balcony.
Property Size2,014 SF
Price / SF$371.90
Days on Market56
Property Features for 5055 N OCEAN SHORE Blvd
General Information
Standard status
Active
Size
2,014 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,789
Amenities
conference room
kitchenette
covered balcony
storage closets
wheelchair accessible
Building Details
Building Size
2,014 SF
Year Built
1989
Buildings
1
Stories
2
Construction
masonry
Listing Agency:
PALM WAVE REALTY
(561) 346-7355
Listed By:
John Horan · License #0403498
(561) 346-7355
Source:
Elliman
Added: Jul 5
Changed: Aug 29
Last Checked: Aug 29 at 5:22PM
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 PALM WAVE REALTY
Investment Insights
Based on property information with market context.
This 2,014-square-foot office building offers two levels of professional workspace in a masonry structure built in 1989. The ground floor includes an accessible entrance, reception area, conference room, large rear office with a 6-cubicle workstation, restroom, and storage. Upstairs, a kitchenette serves two offices, each with its own restroom, while a third office connects to a covered balcony with an exterior stairway. Large windows, French doors, stucco detailing, and a covered entry shape the building’s presentation.
The property is located at 5055 N Ocean Shore Blvd on A1A in Palm Coast’s Hammock area, with a corner position and reported traffic of over 6000 cars daily. It is 3500 feet from the beach and near Hammock Dunes, Hammock Beach Resort, Yacht Harbor, and the future Ritz Carlton Residence. Short-term vacation rentals are permitted at this location, supporting the stated possibility of combining business and short-term rental use or occupying one level while operating from the other. The location is car-dependent, with a bikeScore of 27 and a walkScore of 0.
The property is located at 5055 N Ocean Shore Blvd on A1A in Palm Coast’s Hammock area, with a corner position and reported traffic of over 6000 cars daily. It is 3500 feet from the beach and near Hammock Dunes, Hammock Beach Resort, Yacht Harbor, and the future Ritz Carlton Residence. Short-term vacation rentals are permitted at this location, supporting the stated possibility of combining business and short-term rental use or occupying one level while operating from the other. The location is car-dependent, with a bikeScore of 27 and a walkScore of 0.
Key Highlights
- 2,014‑square‑foot, two‑story masonry office building built in 1989
- A1A corner location with over 6000 cars passing daily
- 3500 feet from the beach in Palm Coast’s Hammock area
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
$23,328
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
3.11%
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%
$466,560
$466.6K
Cap Rate 7%
$333,257
$333.3K
Cap Rate 9%
$259,200
$259.2K
Market Conditions
NOI Build-Up for 2,014 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
$39.9K $19.80/SF
− Vacancy
−$8.8K −$4.36/SF
EGI
$31.1K $15.44/SF
− OpEx
−$7.8K −$3.86/SF
NOI
$23.3K $11.58/SF
Area
Flagler County, FL
Vacancy
22.00%
Lease Rate
$19.80 /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%
$466,560
Cap Rate 7%
$333,257
Cap Rate 9%
$259,200
Alternative Uses
Best Use
Office B
$333.3K
$291.6K – $388.8K
NOI $23,328 @ 7.0% cap · market cap 3.11%
Second Best
Mixed Use
$291.3K
$254.9K – $339.9K
NOI $20,392 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$484.0K
$423.5K – $564.7K
NOI $33,879 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
168
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
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Frequently Asked Questions
What type of property is this?
Office building - Masonry office property with accessible entry, private offices, conference space, kitchenette, and covered balcony.
Where is this office building located?
The property is located at 5055 N OCEAN SHORE Blvd Palm Coast, FL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 2,014‑square‑foot, two‑story masonry office building built in 1989; A1A corner location with over 6000 cars passing daily; 3500 feet from the beach in Palm Coast’s Hammock area
