Under-Construction Duplex with Modern
For Sale
$725,000
89 Eccles Road, Fort Walton Beach, FL 32547
Residential, Fort Walton Beach, FL
Property Size3,148 SF
Price / SF$230.30
Days on Market61
Property Features for 89 Eccles Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
County
Bedrooms
6
Bathrooms
7
Full bathrooms
6
Half bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 3, Bedroom 5, Bathroom 4, Bathroom 2, Bathroom 6, Bathroom 5, Bathroom 8, Bedroom 2, Bedroom 4, Bathroom 7, Bedroom 6
Parking
6
Appliances
Dishwasher, Dryer, Freezer, Microwave, Refrigerator, Stove/Oven Electric, Washer
Elementary school
Longwood
Middle school
Pryor
High school
Choctawhatchee
Directions
Traveling West on Miracle Strip Parkway turn right on to Beal Pkwy. S.W. Follow to Beal Pkwy. N. W. then left on Hurlburt Field Road then left on Eccles Road.
Subdivision
12 - Fort Walton Beach
Standard status
Active
APN
03-2S-24-0000-0170-0010
Size
3,148 SF
Taxes and HOA fees
Tax Description
COM NW COR E 810FT S 20.23FT TO S R/W AND POB S 80.79FT E 89.89FT N 80.8FT W 89.87FT TO POB
Legal Description
COM NW COR E 810FT S 20.23FT TO S R/W AND POB S 80.79FT E 89.89FT N 80.8FT W 89.87FT TO POB
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Building Details
Year built
2026
Floors in Building
1
Building materials
Siding Vinyl
Architectural style
Other
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(850) 863-4563
Listed By:
Olivia A Wolff PLLC · License #3591104
(850) 865-3533
Added: Jul 6
Changed: Sep 1
Last Checked: Sep 4 at 8:06AM
MLS# 1007067
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 under-construction duplex contains 3,148 square feet, with each residence offering 1,574 square feet of living space. Both units are configured with three bedrooms, three and one-half bathrooms, a one-car garage, and a dedicated laundry room with a washer and dryer. Interior finishes include luxury vinyl plank flooring, quartz countertops, stainless steel appliances, soft-close cabinetry, and privacy blinds.
Each residence includes a private fenced backyard with irrigation. The property has three separate power meters: one serving each unit and a third dedicated to security lighting and the well pump. Additional features include central air, vinyl siding, public sewer, and County zoning. The property is identified with a 2026 construction year.
Each residence includes a private fenced backyard with irrigation. The property has three separate power meters: one serving each unit and a third dedicated to security lighting and the well pump. Additional features include central air, vinyl siding, public sewer, and County zoning. The property is identified with a 2026 construction year.
Key Highlights
- 3,148‑square‑foot duplex with two 1,574‑square‑foot units
- Each unit includes 3 bedrooms, 3.5 bathrooms, and a one‑car garage
- Luxury vinyl plank flooring, quartz countertops, and stainless steel appliances
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
$36,234
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
5.00%
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%
$724,680
$724.7K
Cap Rate 7%
$517,629
$517.6K
Cap Rate 9%
$402,600
$402.6K
Market Conditions
NOI Build-Up for 3,148 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
$54.8K $17.40/SF
− Vacancy
−$3.0K −$0.96/SF
EGI
$51.8K $16.44/SF
− OpEx
−$15.5K −$4.93/SF
NOI
$36.2K $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%
$724,680
Cap Rate 7%
$517,629
Cap Rate 9%
$402,600
Alternative Uses
Best Use
Multifamily LT 5
$517.6K
$452.9K – $603.9K
NOI $36,234 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$465.3K
$407.1K – $542.8K
NOI $32,568 @ 7.0% cap · market cap 4.49%
Theoretical Best
Specialty Retail
$1.21M
$1.06M – $1.42M
NOI $84,920 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
742
Businesses Nearby
Explore this area
Business Placement
Demographics for 32547, FL
35,466
Population
16,112
Households
2.2
Avg Household Size
37
Median Age
28%
College-Educated
89%
High-School Grad
29.0 sq mi
ZIP Area
1,223
Density / Sq Mi
$67,822
Median Household Income
$36,465
Median Earnings
$1,421
Median Rent
$299,400
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?
Duplex - Two-unit property with private fenced yards, central air, and separate utility metering.
Where is this duplex located?
The property is located at 89 Eccles Road Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3,148‑square‑foot duplex with two 1,574‑square‑foot units; Each unit includes 3 bedrooms, 3.5 bathrooms, and a one‑car garage; Luxury vinyl plank flooring, quartz countertops, and stainless steel appliances
