Flex Space with Fenced
For Sale
$1,015,000
107 Truxton Avenue, Fort Walton Beach, FL 32547
Commercial for Sale, Fort Walton Beach, FL
Property Size8,700 SF
Price / SF$116.67
Days on Market891
Property Features for 107 Truxton Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Located off of Racetrack Road on Truxton
Subdivision
12 - Fort Walton Beach
Standard status
Active
APN
02-2S-24-0000-0013-0000 , 02-2S-24-0000-0013-0000
Taxes and HOA fees
Tax Description
BEG 814 FT W & 461.37 FT S OF NE COR NE1/4 S 75 FT E 151.04 FT N 75 FT W 151.04 FT TO BEG
Legal Description
BEG 814 FT W & 461.37 FT S OF NE COR NE1/4 S 75 FT E 151.04 FT N 75 FT W 151.04 FT TO BEG
Listing Agency:
NBI Properties Inc
(850) 243-0007
Listed By:
Craig S Barrett · License #3294646
(850) 217-0303
Added: Apr 12, 2024
Changed: Sep 11
Last Checked: Sep 19 at 7:06PM
MLS# 947180
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 8,700-square-foot flex property combines warehouse and office improvements in a functional commercial configuration. The warehouse offers 22-foot ceilings, heating, and two electric roll-up doors measuring 14 feet by 16 feet. A 4,000-square-foot office area includes two restrooms and showers, supporting both administrative and operational needs. The building received a new roof in 2021.
A fenced yard with an electric gate provides secured outdoor space. The property is positioned off Racetrack Road in Fort Walton Beach, Florida, and includes a second parcel totaling 0.44 acres.
A fenced yard with an electric gate provides secured outdoor space. The property is positioned off Racetrack Road in Fort Walton Beach, Florida, and includes a second parcel totaling 0.44 acres.
Key Highlights
- 8,700 SF flex space with 22‑foot warehouse ceilings
- Two electric roll‑up doors, each measuring 14' x 16'
- 4,000 SF office area with 2 restrooms and showers
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
$59,136
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
5.83%
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%
$1,182,720
$1.2M
Cap Rate 7%
$844,800
$844.8K
Cap Rate 9%
$657,067
$657.1K
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
$73.1K $8.40/SF
− Vacancy
−$3.5K −$0.40/SF
EGI
$69.6K $8.00/SF
− OpEx
−$10.4K −$1.20/SF
NOI
$59.1K $6.80/SF
Area
Okaloosa County, FL
Vacancy
4.80%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$1,182,720
Cap Rate 7%
$844,800
Cap Rate 9%
$657,067
Alternative Uses
Best Use
Flex RnD
$1.37M
$1.20M – $1.59M
NOI $95,683 @ 7.0% cap · market cap 9.43%
Second Best
Warehouse
$844.8K
$739.2K – $985.6K
NOI $59,136 @ 7.0% cap · market cap 5.83%
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
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Current Use
Lease Details
22 ft
Clear height
Yes
Fenced yard
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Heated warehouse space includes substantial office improvements, showers, and controlled yard access.
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: 8,700 SF flex space with 22‑foot warehouse ceilings; Two electric roll‑up doors, each measuring 14' x 16'; 4,000 SF office area with 2 restrooms and showers
