Office Unit with Multiple Work
For Sale
$400,000
1013 Marwalt Drive, Fort Walton Beach, FL 32547
Commercial for Sale, Fort Walton Beach, FL
Property Size2,500 SF
Price / SF$160
Days on Market205
Property Features for 1013 Marwalt Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From Racetrack Rd, make a turn to Mar Walt Dr. the property is going to be on your right.
Subdivision
12 - Fort Walton Beach
Standard status
Active
APN
34-1S-24-0000-0052-0090
Taxes and HOA fees
Tax Description
34-1S-24-0000-0052-0090
Legal Description
34-1S-24-0000-0052-0090
Listing Agency:
NBI Properties Inc
(850) 243-0007
Listed By:
James E Nabors · License #3104014
(850) 420-1111
Added: Feb 26
Changed: Sep 11
Last Checked: Sep 19 at 3:06PM
MLS# 996341
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 2,500-square-foot office unit at 1013 Mar Walt Drive provides a practical commercial layout with multiple work areas and space that can accommodate a reception area. The property is positioned in Fort Walton Beach within a well-traveled area offering convenient access for clients and staff.
Additional units are available at the property, providing flexibility for users seeking office space within the same commercial setting. The layout is suited to professional services, medical use, or small business operations as described for the property.
Additional units are available at the property, providing flexibility for users seeking office space within the same commercial setting. The layout is suited to professional services, medical use, or small business operations as described for the property.
Key Highlights
- 2,500 square feet of office space
- Multiple work areas within a functional layout
- Reception area potential
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
$32,288
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
8.07%
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%
$645,760
$645.8K
Cap Rate 7%
$461,257
$461.3K
Cap Rate 9%
$358,756
$358.8K
Market Conditions
NOI Build-Up for 2,500 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
$52.5K $21.00/SF
− Vacancy
−$9.5K −$3.78/SF
EGI
$43.1K $17.22/SF
− OpEx
−$10.8K −$4.31/SF
NOI
$32.3K $12.92/SF
Area
Okaloosa County, FL
Vacancy
18.00%
Lease Rate
$21.00 /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%
$645,760
Cap Rate 7%
$461,257
Cap Rate 9%
$358,756
Alternative Uses
Best Use
Office B
$461.3K
$403.6K – $538.1K
NOI $32,288 @ 7.0% cap · market cap 8.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$963.4K
$843.0K – $1.12M
NOI $67,439 @ 7.0% cap · market cap 16.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,339
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Commercial space with reception potential and convenient access for clients and staff.
Where is this office units located?
The property is located at 1013 Marwalt Drive Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2,500 square feet of office space; Multiple work areas within a functional layout; Reception area potential
