Brick Quadplex Requiring
For Sale
$397,000
125 Beal Parkway, Fort Walton Beach, FL 32548
Residential, Fort Walton Beach, FL
Property Size2,550 SF
Lot Size0.16 Acres
Price / SF$155.69
Days on Market362
Property Features for 125 Beal Parkway
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Commercial, Resid Multi-F
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 2, Bedroom 1, Bonus Room, Bedroom 2, Bathroom 3, Bedroom 4, Bathroom 4, Bathroom 1
Patio and Porch features
Porch
Exterior features
Fenced Back Yard
Fencing
Back Yard
Appliances
Refrigerator, Stove/Oven Electric, Water Heater - Elect
Subdivision
GIBSON ADDN
Lot features
Within 1/2 Mile to Water
Elementary school
Edwins
Middle school
Bruner
High school
Fort Walton Beach
Directions
From Miracle Strip (US 98) and Beal travel North on Beal and property will be on your left
Standard status
Active
APN
13-2S-24-1050-000K-0080
Size
2,550 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Gibson Add Lots 8 & 9 Ex S 50 Ft Of Lot 9 Blk K
Tax Annual Amount
2889
Legal Description
Gibson Add Lots 8 & 9 Ex S 50 Ft Of Lot 9 Blk K
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1951
Floors in Building
2
Building materials
Brick
Architectural style
Other
Listing Agency:
World Impact Real Estate
(850) 225-7000
Listed By:
MY850 Elkins
(850) 998-8500
Added: Sep 11, 2025
Changed: Sep 3
Last Checked: Sep 7 at 9:06PM
MLS# 985178
Copyright © 2026 Emerald Coast Association of Realtors. 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 1951 brick quadplex contains four individual units totaling approximately 2,550 square feet. Each residence includes one bedroom, one bathroom, a living room, and a bonus room that may function as an additional bedroom or office. The property includes a porch, fenced back yard, window or wall/window cooling units, electric ranges, refrigerators, electric water heaters, and public sewer service.
Set on 0.16 acres at 125 Beal Parkway in Fort Walton Beach, the property is located on Beal and just minutes from downtown. Zoning is identified as Commercial and Resid Multi-F, providing both commercial and residential classifications. The seller indicates that significant renovation is needed. A land-only sale is also an available consideration.
Set on 0.16 acres at 125 Beal Parkway in Fort Walton Beach, the property is located on Beal and just minutes from downtown. Zoning is identified as Commercial and Resid Multi-F, providing both commercial and residential classifications. The seller indicates that significant renovation is needed. A land-only sale is also an available consideration.
Key Highlights
- Four individual units totaling approximately 2,550 square feet
- Each unit includes 1 bedroom, 1 bathroom, living room, and bonus room
- 0.16‑acre parcel at 125 Beal Parkway in Fort Walton Beach
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
$29,351
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
7.39%
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%
$587,020
$587.0K
Cap Rate 7%
$419,300
$419.3K
Cap Rate 9%
$326,122
$326.1K
Market Conditions
NOI Build-Up for 2,550 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
$44.4K $17.40/SF
− Vacancy
−$2.4K −$0.96/SF
EGI
$41.9K $16.44/SF
− OpEx
−$12.6K −$4.93/SF
NOI
$29.4K $11.51/SF
Area
Okaloosa County, FL
Vacancy
5.50%
Lease Rate
$17.40 /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%
$587,020
Cap Rate 7%
$419,300
Cap Rate 9%
$326,122
Alternative Uses
Best Use
Multifamily LT 5
$419.3K
$366.9K – $489.2K
NOI $29,351 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$376.9K
$329.8K – $439.7K
NOI $26,381 @ 7.0% cap · market cap 6.65%
Theoretical Best
Specialty Retail
$982.7K
$859.9K – $1.15M
NOI $68,788 @ 7.0% cap · market cap 17.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,489
Businesses Nearby
Explore this area
Business Placement
Demographics for 32548, FL
22,399
Population
14,040
Households
1.6
Avg Household Size
42
Median Age
31%
College-Educated
91%
High-School Grad
12.1 sq mi
ZIP Area
1,851
Density / Sq Mi
$63,857
Median Household Income
$37,725
Median Earnings
$1,281
Median Rent
$291,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four individual residences offer bonus rooms, a fenced rear yard, and flexible commercial and residential zoning.
Where is this quadplex located?
The property is located at 125 Beal Parkway Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $397,000.
What are key features of this property?
This property features: Four individual units totaling approximately 2,550 square feet; Each unit includes 1 bedroom, 1 bathroom, living room, and bonus room; 0.16‑acre parcel at 125 Beal Parkway in Fort Walton Beach
