Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    120 B Pamela Ann Drive Fort Walton Beach, FL 32548

    View on Map
    Claim this Listing
    Picture of Residential land & home lots at 120 B Pamela Ann Drive, Fort Walton Beach, FL
    For Sale
    $859,000

    LAND - Fort Walton Beach, FL

    Lot size:
    0.25 Acres
    Added:
    Jul 11, 2025
    Days on Market:
    293
    Last Refresh:
    Apr 29 at 10:06 am

    Property Features for 120 B Pamela Ann Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Resid Single Family
    Standard status
    Active
    APN
    25-1S-24-0020-0005-004B
    Lot size
    0.25 Acres

    Taxes and HOA fees

    Tax Description
    ALEXANDER HTS COM NW COR LOT 5 S 26.57FT TO POB S 63.33FT E

    We can help!

    Listing Contact
    Olivia A Wolff PLLC

    Listing agent Olivia A Wolff PLLC License #3591104

    Listing office Coldwell Banker Realty 45 Eglin Pkwy NE #101, Pensacola, FL

    Listing date Jul 11, 2025

    MLS# 980738 Listing URL

    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.

    Overview

    Residential Lot in Fort Walton

    This residential lot, located in Fort Walton Beach, Florida, is ready for construction by Tracy Acree Construction, Inc. A pre-existing plan is available for a home featuring five bedrooms, including two primary suite-style bedrooms, four bathrooms, and a three-car side-load garage. Custom home plans are also an option. The minimum build cost is $825,000, ensuring a luxury home with features such as a natural gas stove, tankless water heater, quartz countertops, and upgraded cabinetry. The lot spans 0.25 acres. Note that the lot will not be sold separately and requires the use of the builder/owner for construction.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Fort Walton Beach
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.604659
    Latitude
    30.467906

    Nearby Similar for Sale

    • $1,800,000
      5,144 SF

      Waterfront Estate with Rental Income

      Waterfront estate featuring multiple units and primary residence.
      334 Bluefish Drive, Fort Walton Beach, FL 32548
      View Details
    • $7,950,000

      Waterfront Land in Fort Walton Beach

      Rare waterfront land assemblage zoned for high-density redevelopment.
      54 SE Miracle Strip Parkway, Fort Walton Beach, FL 32548
      View Details
    • $713,592
      3,322 SF

      Fully Occupied Multi-Family Investment

      Income-producing multi-family property with development potential in Fort Walton Beach.
      816 Lark Street, Fort Walton Beach, FL 32547
      View Details
    • $586,405
      2,750 SF

      Fully Occupied Multi-Family Investment

      Income-producing multi-family property with development potential near Eglin AFB.
      818 Lark Street, Fort Walton Beach, FL 32547
      View Details
    • $274,900
      1,425 SF

      Updated Duplex in Quiet Neighborhood

      Updated 3-bedroom, 2-bath duplex with garage in Fort Walton Beach.
      1036 Blue Ridge Drive, Fort Walton Beach, FL 32547
      View Details
    • $649,000

      Prime Island Living Corner Lot

      Rare opportunity to build your dream home near the Gulf.
      834 Tarpon Drive, Fort Walton Beach, FL 32548
      View Details
    • $397,000
      2,550 SF

      Four-Plex in Prime Location

      Four-unit property with renovation potential near downtown Fort Walton Beach.
      125 Beal Parkway, Fort Walton Beach, FL 32548
      View Details
    • $670,000
      4,058 SF

      Medical Office Space For Sale

      Medical office space with lease income until September 2027.
      914B Marwalt Drive, Fort Walton Beach, FL 32547
      View Details
    • $549,900
      1,800 SF

      High-Visibility Commercial Office Duplex

      1,800 SF commercial property with high visibility and flexibility.
      58 Beal Parkway, Fort Walton Beach, FL 32548
      View Details
    • $234,900

      Fort Walton Beach Land Parcel

      Residential lot in a desirable coastal setting to build dream home.
      Woodbriar Court lot: 4, Fort Walton Beach, FL 32547
      View Details
    • $2,450,000
      7,500 SF

      Fort Walton Beach Retail Opportunity

      7,500 SF retail property in downtown Fort Walton Beach.
      150 SE Hollywood Boulevard, Fort Walton Beach, FL 32548
      View Details
    • $550,000
      4,000 SF

      Fort Walton Beach Warehouse

      4,000 sqft warehouse with remodeled office space for sale.
      801 South Drive, Fort Walton Beach, FL 32547
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential lot with building plan in Fort Walton Beach, FL.
    Where is this residential land & home lot located?
    The property is located at 120 B Pamela Ann Drive Fort Walton Beach, FL.
    What is the asking price?
    The asking price for this property is $859,000.
    What are key features of this property?
    This property features: Ready‑to‑build lot with pre‑approved plan for a 5‑bedroom luxury home.; Option for custom home plans with builder/owner.; Includes two primary suite style bedrooms and 4 bathrooms.
    (850) 865-3533
    We can help!
    Listing Contact
    Olivia A Wolff PLLC
    Real Estate License ID: 3591104
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!