Mixed-Use Property with
For Sale
Contact for pricing
5236 Willing St, Milton, FL 32570
Office space and a separate apartment share this downtown commercial property.
Property Size1,800 SF
Price / SF$149.44
Days on Market88
Property Features for 5236 Willing St
General Information
Standard status
Active
Size
1,800 SF
Property subtype
OFFICE
Listing Agency:
RE/MAX HORIZONS REALTY
(850) 572-9353
Listed By:
Cherylyn Stopler
(850) 572-9353
Source:
Moodyscre
Added: Jun 5
Changed: Aug 29
Last Checked: Aug 30 at 9:21PM
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 HORIZONS REALTY
Investment Insights
Based on property information with market context.
Located at 5236 Willing St, this 1,800-square-foot mixed-use property combines commercial office space with a separate river-view apartment. The office component fronts Willing Street and includes parking on both sides of the building, while a rear patio adds outdoor space and views toward the river.
The property sits in downtown Milton near Highway 90, local restaurants, the riverwalk, and community events. Its configuration supports an office or professional-service operation alongside a separate residential component, with the apartment offering private space or an additional occupancy option.
The property sits in downtown Milton near Highway 90, local restaurants, the riverwalk, and community events. Its configuration supports an office or professional-service operation alongside a separate residential component, with the apartment offering private space or an additional occupancy option.
Key Highlights
- 1,800‑square‑foot mixed‑use property with office space and a separate river‑view apartment
- Commercial building fronts Willing Street in downtown Milton
- Parking available on both sides of the building
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
$21,254
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
7.90%
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%
$425,080
$425.1K
Cap Rate 7%
$303,629
$303.6K
Cap Rate 9%
$236,156
$236.2K
Market Conditions
NOI Build-Up for 1,800 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
$34.6K $19.20/SF
− Vacancy
−$6.2K −$3.46/SF
EGI
$28.3K $15.74/SF
− OpEx
−$7.1K −$3.94/SF
NOI
$21.3K $11.81/SF
Area
Santa Rosa County, FL
Vacancy
18.00%
Lease Rate
$19.20 /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%
$425,080
Cap Rate 7%
$303,629
Cap Rate 9%
$236,156
Alternative Uses
Best Use
Office B
$303.6K
$265.7K – $354.2K
NOI $21,254 @ 7.0% cap · market cap 7.90%
Second Best
Mixed Use
$229.1K
$200.5K – $267.3K
NOI $16,038 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$443.2K
$387.8K – $517.1K
NOI $31,026 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
Explore this area
Business Placement
Demographics for 32570, FL
33,144
Population
15,387
Households
2.2
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
301.1 sq mi
ZIP Area
110
Density / Sq Mi
$73,615
Median Household Income
$38,394
Median Earnings
$1,233
Median Rent
$240,800
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?
Mixed-use property - Office space and a separate apartment share this downtown commercial property.
Where is this mixed-use property located?
The property is located at 5236 Willing St Milton, FL.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: 1,800‑square‑foot mixed‑use property with office space and a separate river‑view apartment; Commercial building fronts Willing Street in downtown Milton; Parking available on both sides of the building
