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    145 City Pl Palm Coast, FL 32164
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    145 City Pl, Palm Coast, FL 32164

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    • Office Spaces
    • 11,992 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Southern Reporting Company, Palm Coast, FL / Corporate Office
    • city center / Business Service Center / Corporate Office
    • Florida Health Care Plans - Laboratory / Medical Laboratory / Laboratory
    • Florida Health Care Plans: Town Center / Pharmacy
    • Dr. Stephen Keen / Pediatrician / Physician

    Property Details for 145 City Pl

    Year built
    2009
    Property type
    Office Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional offering presents two contiguous Class A office condos, totaling 7,950 square feet of vacant space, within the prestigious City Centre in Palm Coast, Florida. Located in the heart of the Palm Coast Town Center, this three-story building boasts a prime location adjacent to City Hall, near Advent Hospital, and surrounded by thriving restaurants, retail, and over 1,000 new residential units. Each condo offers a flexible layout, easily adaptable for medical or professional use. Suite 200A encompasses 3,908 square feet, while Suite 200B offers 4,042 square feet. Both are available for sale at $1,400,000 each or lease at $25.00 per square foot, NNN. The units feature existing improvements including dropped ceilings, lighting, and HVAC systems. Building amenities include 24/7 secured access, ample parking, and access to Town Center amenities. The open floor plan is filled with natural light and includes five designated open areas, a conference room, seven private offices, a breakroom, a copy room, and a single in-suite restroom, plus common area restrooms. Turnkey options are available, with existing cubicles and office furniture potentially remaining. The building's strong tenant roster includes the Palm Coast-Flagler Regional Chamber of Commerce, Jacksonville University, Flagler Health+ Orthopedic, and several other prominent businesses. Conveniently located near I-95 and Flagler Executive Airport, this property offers unparalleled accessibility. Condo fees are $5.87 per square foot, and real estate taxes are $3.45 per square foot. The zoning (MDA) permits professional and medical offices. The building was constructed in 2009 and has a total of 11,992 square feet. The property's APN is 06-12-31-5825-00010-0200.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Palm Coast
    County
    Flagler
    State
    Florida
    Longitude
    -81.2066
    Latitude
    29.4854

    Comparable in this City

    • Value Estimation by Request
      2,500 SF

      Town Center Blvd

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      3,908 SF

      145 City Pl

      Medical Office Space
      145 City Pl, Palm Coast, FL 32164
      View Details
    • Value Estimation by Request
      3,370 SF

      140 Pinnacles Dr

      MEDICAL BUILDING
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      180 Pinnacles Dr

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    • Value Estimation
      $10,150,000
      26,951 SF

      57 Town Ct

      MEDICAL BUILDING
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    • Value Estimation
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      33,700 SF

      120 Cypress Edge Dr

      MEDICAL BUILDING
      120 Cypress Edge Dr, Palm Coast, FL 32164-8453
      View Details

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    Similar Nearby for Lease

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      Medical Office Space Sublease

      Sublease medical office space next to Advent Hospital Flagler.
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      Medical Office Space For Rent

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      Medical Office Space Near Hospital

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      Flexible Retail Suite

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      Professional Office Suite For Rent

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    Palm Coast, FL 32164
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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