Office Unit with Work
For Sale
$200,000
1013 Marwalt Drive, Fort Walton Beach, FL 32547
Commercial for Sale, Fort Walton Beach, FL
Property Size1,200 SF
Price / SF$166.67
Days on Market199
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-24-0000-0052-011C
Taxes and HOA fees
Tax Description
34-1S-24-0000-0052-011C
Legal Description
34-1S-24-0000-0052-011C
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 13 at 6:06PM
MLS# 996336
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 1,200-square-foot office unit at 1013 Mar Walt Drive provides a practical commercial layout with multiple work areas and room for a reception area. The property is positioned in a well-traveled area of Fort Walton Beach with access described as convenient for clients and staff.
The space is identified as suitable for professional services, medical use, or a small business. Additional units are also available at the property, providing further office-space options within the same setting.
The space is identified as suitable for professional services, medical use, or a small business. Additional units are also available at the property, providing further office-space options within the same setting.
Key Highlights
- 1,200‑square‑foot office unit at 1013 Mar Walt Drive
- Layout includes multiple work areas
- 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
$15,498
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
7.75%
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%
$309,960
$310.0K
Cap Rate 7%
$221,400
$221.4K
Cap Rate 9%
$172,200
$172.2K
Market Conditions
NOI Build-Up for 1,200 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
$25.2K $21.00/SF
− Vacancy
−$4.5K −$3.78/SF
EGI
$20.7K $17.22/SF
− OpEx
−$5.2K −$4.31/SF
NOI
$15.5K $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%
$309,960
Cap Rate 7%
$221,400
Cap Rate 9%
$172,200
Alternative Uses
Best Use
Office B
$221.4K
$193.7K – $258.3K
NOI $15,498 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$462.4K
$404.6K – $539.5K
NOI $32,371 @ 7.0% cap · market cap 16.19%
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 - Functional commercial space with reception potential and convenient client and staff access.
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 $200,000.
What are key features of this property?
This property features: 1,200‑square‑foot office unit at 1013 Mar Walt Drive; Layout includes multiple work areas; Reception area potential
