Office Units with
New
For Sale
$790,000
913 Gulf Breeze Pkwy STE 1, Gulf Breeze, FL 32561
Two separate commercial spaces support office, showroom, storefront, or coworking uses.
Property Size3,200 SF
Price / SF$246.88
Days on Market4
Property Features for 913 Gulf Breeze Pkwy STE 1
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Commercial
Amenities
covered exterior deck
reception area
kitchenette
conference room
storage closets
display window
shower
Building Details
Stories
2
Listing Agency:
KELLER WILLIAMS REALTY GULF COAST
(850) 490-1519
Listed By:
Travis Talley · License #3292694
(850) 490-1519
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 21 at 7:31AM
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 KELLER WILLIAMS REALTY GULF COAST
Investment Insights
Based on property information with market context.
This approximately 3,200-square-foot commercial property at 913 Gulf Breeze Pkwy includes two separate spaces of approximately 1,600 square feet each. The upper space has been updated with tile flooring, high ceilings, exposed beams, shiplap accents, a reception area, covered deck, kitchenette, conference room, work area, storage, restroom, and full-size shower. The lower area is arranged as a showroom with an open layout, track lighting, storage closets, rear storage, kitchenette, bathroom, and a display window.
The property occupies a corner position within Harbourtown, a business complex with retail, beauty, service, and professional businesses. The location provides access to a large parking area within the complex. The spaces are suited to professional offices, showroom operations, storefront use, coworking, or multiple business concepts. A roof replacement was completed in 2026.
The property occupies a corner position within Harbourtown, a business complex with retail, beauty, service, and professional businesses. The location provides access to a large parking area within the complex. The spaces are suited to professional offices, showroom operations, storefront use, coworking, or multiple business concepts. A roof replacement was completed in 2026.
Key Highlights
- Approximately 3,200 sq. ft. divided into two spaces of approximately 1,600 sq. ft. each
- Corner position within Harbourtown business complex
- Upper workspace updated with tile flooring, high ceilings, exposed beams, and shiplap accents
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
$37,786
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
4.78%
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%
$755,720
$755.7K
Cap Rate 7%
$539,800
$539.8K
Cap Rate 9%
$419,844
$419.8K
Market Conditions
NOI Build-Up for 3,200 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
$61.4K $19.20/SF
− Vacancy
−$11.1K −$3.46/SF
EGI
$50.4K $15.74/SF
− OpEx
−$12.6K −$3.94/SF
NOI
$37.8K $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%
$755,720
Cap Rate 7%
$539,800
Cap Rate 9%
$419,844
Alternative Uses
Best Use
Office B
$539.8K
$472.3K – $629.8K
NOI $37,786 @ 7.0% cap · market cap 4.78%
Second Best
Retail
$491.9K
$430.4K – $573.9K
NOI $34,433 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$788.0K
$689.5K – $919.3K
NOI $55,158 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
856
Businesses Nearby
Explore this area
Business Placement
Demographics for 32561, FL
9,241
Population
6,591
Households
1.4
Avg Household Size
51
Median Age
60%
College-Educated
96%
High-School Grad
12.0 sq mi
ZIP Area
770
Density / Sq Mi
$119,042
Median Household Income
$65,417
Median Earnings
$1,535
Median Rent
$576,100
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 units - Two separate commercial spaces support office, showroom, storefront, or coworking uses.
Where is this office units located?
The property is located at 913 Gulf Breeze Pkwy STE 1 Gulf Breeze, FL.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Approximately 3,200 sq. ft. divided into two spaces of approximately 1,600 sq. ft. each; Corner position within Harbourtown business complex; Upper workspace updated with tile flooring, high ceilings, exposed beams, and shiplap accents
