Yes; that's the right way to do it and the way I have done it for as long as Apple offered that capability. Over two decades now.
would they do this at the mac store in tampa?
I don't believe Apple offers that service, but you can ask. Transferring information from one Mac to another is described here: Transfer to a new Mac with Migration Assistant - Apple Support. It will be offered to you when you initially set up the new Mac with your existing Apple ID and related information.
As for Microsoft products such as Word documents: yes Migration Assistant will transfer all those files and documents but be prepared for Microsoft to demand more money from you for the privilege of using new and improved versions of their overpriced bloatware so that you can continue to work with them. I decided to stop playing that game slightly less than two decades ago. Fortunately we really don't need Microsoft any more. There are a variety of better, cheaper, and sometimes totally free alternatives.
how long does it take to tranfer all this info to new mac
It depends on the connection method, and if you use wireless it depends on the local wireless environment. Expect a complete migration to take the better part of a day. Any indication of progress or the apparent lack thereof should be disregarded since it may appear to do nothing for long periods of time.