Fort Walton Beach Flex
For Sale
$1,015,000
107 Truxton Avenue, Fort Walton Beach, FL 32547
8700 SF flex space with office and warehouse.
Property Size8,700 SF
Lot Size0.44 Acres
Price / SF$116.67
Days on Market869
Property Features for 107 Truxton Avenue
General Information
Standard status
Active
Size
8,700 SF
Lot size
0.44 Acres
Property subtype
Commercial/Industrial
Listing Agency:
NBI Properties Inc
(850) 217-0303
Listed By:
Craig S Barrett · License #3294646
(850) 217-0303
Source:
Exitrealty
Added: Apr 13, 2024
Changed: Aug 25
Last Checked: Aug 29 at 5:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NBI Properties Inc
Investment Insights
Based on property information with market context.
This 8700 SF flex space property features a 4000 SF office area with two restrooms and showers. The warehouse portion includes two 14' x 16' electric rollup doors and 22' ceilings, and is heated. A fenced-in yard with an electric gate provides added security. The property is located off Racetrack Road in Fort Walton Beach, FL. A new roof was installed in 2021. An additional parcel of 0.44 acres is included.
Key Highlights
- 8700 SF Flex space with 4000 SF office
- Warehouse boasts two 14' x 16' electric rollup doors and 22' ceilings
- Fenced‑in yard with electric gate
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
$45,032
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
4.44%
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%
$900,640
$900.6K
Cap Rate 7%
$643,314
$643.3K
Cap Rate 9%
$500,356
$500.4K
Market Conditions
NOI Build-Up for 8,700 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
$67.9K $7.80/SF
− Vacancy
−$3.5K −$0.41/SF
EGI
$64.3K $7.39/SF
− OpEx
−$19.3K −$2.22/SF
NOI
$45.0K $5.18/SF
Area
Okaloosa County, FL
Vacancy
5.20%
Lease Rate
$7.80 /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%
$900,640
Cap Rate 7%
$643,314
Cap Rate 9%
$500,356
Alternative Uses
Best Use
Flex RnD
$1.37M
$1.20M – $1.59M
NOI $95,683 @ 7.0% cap · market cap 9.43%
Second Best
Industrial
$643.3K
$562.9K – $750.5K
NOI $45,032 @ 7.0% cap · market cap 4.44%
Theoretical Best
Specialty Retail
$3.35M
$2.93M – $3.91M
NOI $234,689 @ 7.0% cap · market cap 23.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 8700 SF flex space with office and warehouse.
Where is this flex space located?
The property is located at 107 Truxton Avenue Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $1,015,000.
What are key features of this property?
This property features: 8700 SF Flex space with 4000 SF office; Warehouse boasts two 14' x 16' electric rollup doors and 22' ceilings; Fenced‑in yard with electric gate
