Two-Story Mixed-Use
New
For Sale
$1,250,000
850 SW MARTIN DOWNS Boulevard, Palm City, FL 34990
Flexible commercial and residential configuration with office and retail space below a private second-floor living unit.
Property Size2,848 SF
Lot Size0.16 Acres
Price / SF$438.90
Days on Market4
Property Features for 850 SW MARTIN DOWNS Boulevard
General Information
Standard status
Active
Size
2,848 SF
Total Parking Spaces
12
Lot size
0.16 Acres
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$6,777
Building Details
Building Size
2,848 SF
Year Built
1949
Buildings
1
Stories
2
Listing Agency:
RE/MAX Properties
Listed By:
Karin Hehn Bell PA · License #441691
(561) 818-2331
Source:
Meyerlucas
Added: Sep 21
Changed: Sep 23
Last Checked: Sep 22 at 2:29PM
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 Properties
Investment Insights
Based on property information with market context.
This two-story mixed-use property combines office and retail functionality on the first floor with a residential unit above. The 2,848-square-foot building was constructed in 1949 and occupies 0.156 acres. First-floor improvements include a reception area, multiple offices, a kitchen with dining space, and two half bathrooms. The second-floor 2-bedroom/2-bath unit includes a kitchen, walk-in closet, wood flooring, and a balcony.
The property is positioned at 850 SW Martin Downs Boulevard in Palm City, across from Charlie Leigh Park and the Intracoastal. Its corner placement and 12 parking spots support convenient access for occupants and visitors, while the elevated setting provides water views. The layout accommodates a combination of commercial and residential occupancy within one building.
The property is positioned at 850 SW Martin Downs Boulevard in Palm City, across from Charlie Leigh Park and the Intracoastal. Its corner placement and 12 parking spots support convenient access for occupants and visitors, while the elevated setting provides water views. The layout accommodates a combination of commercial and residential occupancy within one building.
Key Highlights
- 2,848‑square‑foot mixed‑use building on 0.156 acres
- First‑floor office/retail area with reception, offices, kitchen, dining area, and two half bathrooms
- Second‑floor 2‑bedroom/2‑bath residential unit
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
$52,374
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
4.19%
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%
$1,047,480
$1.0M
Cap Rate 7%
$748,200
$748.2K
Cap Rate 9%
$581,933
$581.9K
Market Conditions
NOI Build-Up for 2,848 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
$76.9K $27.00/SF
− Vacancy
−$2.1K −$0.73/SF
EGI
$74.8K $26.27/SF
− OpEx
−$22.4K −$7.88/SF
NOI
$52.4K $18.39/SF
Area
Martin County, FL
Vacancy
2.70%
Lease Rate
$27.00 /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%
$1,047,480
Cap Rate 7%
$748,200
Cap Rate 9%
$581,933
Alternative Uses
Best Use
Retail
$748.2K
$654.7K – $872.9K
NOI $52,374 @ 7.0% cap · market cap 4.19%
Second Best
Mixed Use
$549.3K
$480.6K – $640.8K
NOI $38,448 @ 7.0% cap · market cap 3.08%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
609
Businesses Nearby
Explore this area
Business Placement
Demographics for 34990, FL
31,160
Population
13,641
Households
2.3
Avg Household Size
51
Median Age
49%
College-Educated
97%
High-School Grad
103.0 sq mi
ZIP Area
303
Density / Sq Mi
$120,407
Median Household Income
$56,905
Median Earnings
$1,958
Median Rent
$558,300
Median Home Value
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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?
Mixed-use property - Flexible commercial and residential configuration with office and retail space below a private second-floor living unit.
Where is this mixed-use property located?
The property is located at 850 SW MARTIN DOWNS Boulevard Palm City, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 2,848‑square‑foot mixed‑use building on 0.156 acres; First‑floor office/retail area with reception, offices, kitchen, dining area, and two half bathrooms; Second‑floor 2‑bedroom/2‑bath residential unit
