Two-Story Mixed-Use
New
For Sale
$1,250,000
850 SW MARTIN DOWNS Boulevard, Palm City, FL 34990
Commercial Sale, Palm City, FL
Property Size2,848 SF
Lot Size0.16 Acres
Price / SF$438.90
Days on Market5
Property Features for 850 SW MARTIN DOWNS Boulevard
General Information
Property type
Residential
Property subtype
Office
Zoning
1200 Mixed Use
Parking
12
Lot features
Corner Lot
Directions
corner of Martin Downs & Cornell
Subdivision
6090 - Palm City
Standard status
Active
APN
173841001002000101
Size
2,848 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PALM CITY AMENDED LOT 1 (LESS ST) BLK 2
Tax Annual Amount
6777
Legal Description
PALM CITY AMENDED LOT 1 (LESS ST) BLK 2
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Wall/Window Unit(s), Window Unit(s), Central Air, Electric
Water source
Public
Amenities
reception
kitchen
dining area
balcony
water views
Building Details
Year built
1949
Floors in Building
2
Number of units
2
Flooring type
Tile, Wood, Laminate
Building materials
Block, Concrete
Roof type
Metal
Listing Agency:
RE/MAX Properties · RE/MAX International
(561) 222-2800
Listed By:
Karin Hehn Bell PA · License #441691
(561) 818-2331
Added: Sep 17
Changed: Sep 21
Last Checked: Sep 21 at 11:06PM
MLS# B26078703
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,848-square-foot mixed-use building, constructed in 1949, provides commercial space on the first level and a residential unit above. The ground floor includes a reception area, multiple offices, a kitchen with dining area, and two half bathrooms. The upper-level residence has two bedrooms, two full bathrooms, a kitchen with Corian countertops, a walk-in closet, wood flooring, and a balcony.
The property includes 12 parking spots and is positioned on a corner along SW Martin Downs Boulevard in Palm City. It sits across from Charlie Leigh Park and the Intracoastal, with water views from the property. Zoning is 1200 Mixed Use, and the site is served by public water and public sewer.
The property includes 12 parking spots and is positioned on a corner along SW Martin Downs Boulevard in Palm City. It sits across from Charlie Leigh Park and the Intracoastal, with water views from the property. Zoning is 1200 Mixed Use, and the site is served by public water and public sewer.
Key Highlights
- 2,848‑square‑foot mixed‑use building constructed in 1949
- First‑floor office and retail layout with reception, offices, kitchen, dining area, and two half bathrooms
- Second‑floor residential unit with 2 bedrooms and 2 full bathrooms
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
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
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
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?
Mixed-use property - Two-story configuration combines first-floor office and retail space with a second-floor residential unit and public utilities.
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 constructed in 1949; First‑floor office and retail layout with reception, offices, kitchen, dining area, and two half bathrooms; Second‑floor residential unit with 2 bedrooms and 2 full bathrooms
