Two-Story Professional Office
For Sale
Contact for pricing
515 SW California Ave, Stuart, FL 34994
Professional office property with a functional layout near Stuart’s business district, restaurants, retail, and residential communities.
Property Size3,486 SF
Lot Size0.26 Acres
Price / SF$430.29
Days on Market9
Property Features for 515 SW California Ave
General Information
Standard status
Active
Size
3,486 SF
Lot size
0.26 Acres
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
1
Stories
2
Building Size
3,486 SF
Listing Agency:
Cushman & Wakefield - Stuart
Listed By:
Stuart Duffin, SIOR, CCIM · License #BK3071098
Source:
Crexi
Added: Sep 3
Changed: Sep 9
Last Checked: Sep 11 at 6:10AM
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 Cushman & Wakefield - Stuart
Investment Insights
Based on property information with market context.
Located at 515 SW California Avenue in Stuart, Florida, this two-story professional office building contains approximately 3,486 square feet on a 0.26-acre parcel. The interior offers a functional configuration suited to professional office operations, with the building’s two-level design providing flexibility for organizing work areas and support functions.
The property is positioned near Downtown Stuart and the established business district, with restaurants, retail, and surrounding residential communities nearby. Access extends to Colorado Avenue, US Highway 1, and the broader Martin County market, placing the office building within a central Stuart business setting.
The property is positioned near Downtown Stuart and the established business district, with restaurants, retail, and surrounding residential communities nearby. Access extends to Colorado Avenue, US Highway 1, and the broader Martin County market, placing the office building within a central Stuart business setting.
Key Highlights
- Approximately 3,486‑square‑foot two‑story office building
- 0.26‑acre parcel in Stuart, Florida
- Functional layout for professional office users
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
$44,049
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
2.94%
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%
$880,980
$881.0K
Cap Rate 7%
$629,271
$629.3K
Cap Rate 9%
$489,433
$489.4K
Market Conditions
NOI Build-Up for 3,486 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
$75.3K $21.60/SF
− Vacancy
−$16.6K −$4.75/SF
EGI
$58.7K $16.85/SF
− OpEx
−$14.7K −$4.21/SF
NOI
$44.0K $12.64/SF
Area
Martin County, FL
Vacancy
22.00%
Lease Rate
$21.60 /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%
$880,980
Cap Rate 7%
$629,271
Cap Rate 9%
$489,433
Alternative Uses
Best Use
Office B
$629.3K
$550.6K – $734.2K
NOI $44,049 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$915.8K
$801.3K – $1.07M
NOI $64,106 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,702
Businesses Nearby
Explore this area
Business Placement
Demographics for 34994, FL
17,843
Population
10,086
Households
1.8
Avg Household Size
51
Median Age
36%
College-Educated
92%
High-School Grad
6.7 sq mi
ZIP Area
2,663
Density / Sq Mi
$62,895
Median Household Income
$33,547
Median Earnings
$1,558
Median Rent
$248,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Professional office property with a functional layout near Stuart’s business district, restaurants, retail, and residential communities.
Where is this office building located?
The property is located at 515 SW California Ave Stuart, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Approximately 3,486‑square‑foot two‑story office building; 0.26‑acre parcel in Stuart, Florida; Functional layout for professional office users
