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    198 Eglin Pkwy Fort Walton Beach, FL 32548

    Source: https://www.saltercompany.com
    For Sale
    $3,400,000

    Exceptional 13,985 SF bank building, stunning bayou views.

    Property size:
    13,985 SF

    Description

    Added:
    Feb 5, 2025
    Days on Market:
    309
    This remarkable three-story, 13,895 square foot former bank office building presents a unique investment opportunity in Fort Walton Beach, Florida. Situated on a 0.62-acre lot along Cinco Bayou, the property enjoys breathtaking panoramic views. The building features a convenient drive-thru lane and two entryways, catering to high traffic volume. Its prime location boasts an impressive average annual daily traffic count of 52,000 vehicles. The sale includes two adjacent parcels located at 254 Seaway Street and 4 Lucile Street, Fort Walton Beach, Okaloosa County, Florida, expanding the potential for development or expansion. The well-maintained building showcases timeless architectural design and offers significant potential for various commercial uses. This exceptional property is priced at $3,400,000 and represents a rare chance to acquire a substantial commercial asset in a highly desirable location.

    Property Features for 198 Eglin Pkwy

    General Information

    Property type
    Other office properties
    Square Feet
    13,985 SF
    Price / Square Foot
    $243
    Class
    A
    Total Parking Spaces
    40
    Elevators
    N/A
    Lot Size
    27,021 SF

    Building Details

    Year Built
    1976
    Buildings
    1
    Stories
    3

    HighLights

    • Exceptional 13,895 SF, three‑story building with stunning bayou views.
    • Prime Fort Walton Beach location, boasting 52,000 daily car counts.
    • Includes two adjacent parcels totaling 0.62 acres, expanding development potential.
    Insight Report Location Intelligence

    Current Use by Public Records

    Prime Time Charters Boat Rental Service PNC Bank ATM Atm PNC ATM Atm PNC Bank Bank

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Walton Beach
    State
    Florida
    Longitude
    -86.609121
    Latitude
    30.424926

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    FAQs

    What type of property is this?
    Office property - Exceptional 13,985 SF bank building, stunning bayou views.
    Where is this office property located?
    The property is located at 198 Eglin Pkwy Fort Walton Beach, FL.
    What is the asking price?
    The asking price for this property is $3,400,000.
    What are key features of this property?
    This property features: Exceptional 13,895 SF, three-story building with stunning bayou views.; Prime Fort Walton Beach location, boasting 52,000 daily car counts.; Includes two adjacent parcels totaling 0.62 acres, expanding development potential.
    (850) 564-0120
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    198 Eglin Pkwy Fort Walton Beach, FL 32548
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