Santa Rosa Beach Mixed-Use
For Sale
$3,995,000
73 Veterans Road, Santa Rosa Beach, FL 32459
14,000+ SF warehouse, showroom, and office in Santa Rosa Beach.
Property Size14,119 SF
Price / SF$282.95
Days on Market439
Property Features for 73 Veterans Road
General Information
Standard status
Active
Size
14,119 SF
Building Details
Year Built
2020
Listing Agency:
Somers & Company
(850) 654-7777
Listed By:
John Paul Somers · License #3210089
(850) 654-7777
Source:
Ritechoicerealty
Added: Jun 17, 2025
Changed: Aug 25
Last Checked: Aug 29 at 5:46AM
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 Somers & Company
Investment Insights
Based on property information with market context.
This property features over 14,000 square feet of warehouse, showroom, and office space. It is located in Santa Rosa Beach, Florida, and is zoned Village Mixed Use according to the Walton County FLUM.
Key Highlights
- Extraordinary 14,000+ square foot warehouse, showroom, and office space
- Located in the heart of Santa Rosa Beach, Florida
- Zoned Village Mixed Use (Walton County FLUM)
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
$162,778
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
4.07%
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%
$3,255,560
$3.3M
Cap Rate 7%
$2,325,400
$2.3M
Cap Rate 9%
$1,808,644
$1.8M
Market Conditions
NOI Build-Up for 14,119 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
$254.1K $18.00/SF
− Vacancy
−$21.6K −$1.53/SF
EGI
$232.5K $16.47/SF
− OpEx
−$69.8K −$4.94/SF
NOI
$162.8K $11.53/SF
Area
Walton County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,255,560
Cap Rate 7%
$2,325,400
Cap Rate 9%
$1,808,644
Alternative Uses
Best Use
Retail
$2.33M
$2.03M – $2.71M
NOI $162,778 @ 7.0% cap · market cap 4.07%
Second Best
Mixed Use
$1.87M
$1.64M – $2.18M
NOI $130,804 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$3.55M
$3.11M – $4.14M
NOI $248,551 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
318
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 Industrial 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?
Mixed-use property - 14,000+ SF warehouse, showroom, and office in Santa Rosa Beach.
Where is this mixed-use property located?
The property is located at 73 Veterans Road Santa Rosa Beach, FL.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: Extraordinary 14,000+ square foot warehouse, showroom, and office space; Located in the heart of Santa Rosa Beach, Florida; Zoned Village Mixed Use (Walton County FLUM)
