Gulf-Front 69-Unit Apartment
For Sale
$35,000,000
480 Santa Rosa Boulevard, Fort Walton Beach, FL 32548
Commercial for Sale, Fort Walton Beach, FL
Property SizeContact for details
Lot Size1.57 Acres
Days on Market795
Property Features for 480 Santa Rosa Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Turn on to Okaloosa Island heading south on Santa Rosa Blvd. The property is on the south side about a mile down. Look for the signs.
Subdivision
12 - Fort Walton Beach
Standard status
Active
APN
00-2S-24-2185-0004-0204
Lot size
1.57 Acres
Taxes and HOA fees
Tax Description
SANTA ROSA ISLAND LOT 204 BLK 4 AND W1/2 VAC
Legal Description
SANTA ROSA ISLAND LOT 204 BLK 4 AND W1/2 VAC
Listing Agency:
Compass
(850) 296-9769
Listed By:
Christina M Schlink · License #3137018
(850) 368-1474
Added: Jul 10, 2024
Changed: Sep 11
Last Checked: Sep 12 at 7:06AM
MLS# 954584
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 Gulf-front apartment property includes 69 units across two buildings on 1.57 acres. The property is 100% occupied, with most units operated as long-term rentals. Interior and exterior upgrades have been completed, supporting continued operation of the existing residential configuration.
Located on Okaloosa Island at 480 Santa Rosa Boulevard in Fort Walton Beach, the property sits directly along the Gulf shoreline with beach access. Plans are in place for a seven-story luxury condominium tower, providing a documented redevelopment concept alongside the current apartment use.
Located on Okaloosa Island at 480 Santa Rosa Boulevard in Fort Walton Beach, the property sits directly along the Gulf shoreline with beach access. Plans are in place for a seven-story luxury condominium tower, providing a documented redevelopment concept alongside the current apartment use.
Key Highlights
- 69 units across two buildings
- 1.57‑acre Gulf‑front property on Okaloosa Island
- 100% occupied with most units operating as long‑term rentals
Property Analytics
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Current Use
Lease Details
69
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
893
Businesses Nearby
Explore this area
Business Placement
Demographics for 32548, FL
22,399
Population
14,040
Households
1.6
Avg Household Size
42
Median Age
31%
College-Educated
91%
High-School Grad
12.1 sq mi
ZIP Area
1,851
Density / Sq Mi
$63,857
Median Household Income
$37,725
Median Earnings
$1,281
Median Rent
$291,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-building multifamily property with direct beach access and a tenant base weighted toward long-term rentals.
Where is this apartment building located?
The property is located at 480 Santa Rosa Boulevard Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $35,000,000.
What are key features of this property?
This property features: 69 units across two buildings; 1.57‑acre Gulf‑front property on Okaloosa Island; 100% occupied with most units operating as long‑term rentals
