Class A Office
For Sale
$10,500,000
6925 Us Highway 98 #301, Santa Rosa Beach, FL 32459
Three-story office property with diversified tenancy and additional space available for lease.
Property Size31,840 SF
Price / SF$318.18
Days on Market136
Property Features for 6925 Us Highway 98 #301
General Information
Standard status
Active
Size
31,840 SF
Class
Class A
Property subtype
Commercial
Occupancy
94%
Net Operating Income
$790,000
Building Details
Building Size
31,840 SF
Year Built
2022
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Graham & Company
(850) 830-6593
Listed By:
Jason L Carnes
(850) 830-6593
Source:
Fullsailnwfl
Added: Apr 1
Changed: Aug 13
Last Checked: Aug 13 at 6:40AM
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 Graham & Company
Investment Insights
Based on property information with market context.
Completed in 2022, this 33,000 SF Class A office building rises three stories and is 94% leased. The property includes a diversified tenant mix, with 1,824 SF available for lease and long-term leases in place across the building.
The office asset is located at 6925 US Highway 98 #301 in Santa Rosa Beach, Florida. Its contemporary construction, multi-tenant configuration, and established occupancy provide a clearly defined commercial office profile.
The office asset is located at 6925 US Highway 98 #301 in Santa Rosa Beach, Florida. Its contemporary construction, multi-tenant configuration, and established occupancy provide a clearly defined commercial office profile.
Key Highlights
- 33,000 SF, 3‑story Class A office building
- Built in 2022
- 94% leased with a diversified tenant mix
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
$415,800
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
3.96%
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%
$8,316,000
$8.3M
Cap Rate 7%
$5,940,000
$5.9M
Cap Rate 9%
$4,620,000
$4.6M
Market Conditions
NOI Build-Up for 33,000 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
$693.0K $21.00/SF
− Vacancy
−$138.6K −$4.20/SF
EGI
$554.4K $16.80/SF
− OpEx
−$138.6K −$4.20/SF
NOI
$415.8K $12.60/SF
Area
Walton County, FL
Vacancy
20.00%
Lease Rate
$21.00 /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%
$8,316,000
Cap Rate 7%
$5,940,000
Cap Rate 9%
$4,620,000
Alternative Uses
Best Use
Office B
$5.94M
$5.20M – $6.93M
NOI $415,800 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.30M
$7.26M – $9.68M
NOI $580,932 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
94%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
137
Businesses Nearby
Explore this area
Business Placement
Demographics for 32459, FL
20,567
Population
17,700
Households
1.2
Avg Household Size
43
Median Age
48%
College-Educated
96%
High-School Grad
54.5 sq mi
ZIP Area
377
Density / Sq Mi
$101,067
Median Household Income
$53,393
Median Earnings
$2,165
Median Rent
$613,100
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 - Three-story office property with diversified tenancy and additional space available for lease.
Where is this office building located?
The property is located at 6925 Us Highway 98 #301 Santa Rosa Beach, FL.
What is the asking price?
The asking price for this property is $10,500,000.
What are key features of this property?
This property features: 33,000 SF, 3‑story Class A office building; Built in 2022; 94% leased with a diversified tenant mix
