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

    151 Mary Esther Blvd, Unit 510 Mary Esther, FL 32569

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $349,000

    Exceptional commercial space with flexible floor plan and multiple offices.

    Property Features for 151 Mary Esther Blvd

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Lisa Allen
    Lisa Allen
    Source: Corcoran

    Listing Agency: CENTURY 21 WIMCO REALTY INC Listing Agent: Lisa Allen

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Versatile Commercial Space For Sale

    This versatile commercial space, suitable for both office and retail use, is currently leased until October 2026, presenting a potential return on investment with a tenant already in place. The property has been renovated to feature an open floor plan, offering flexibility for various business needs. The downstairs area includes five separate offices, a half bath, washer and dryer, and utility sinks. Upstairs, there are four additional offices, a full bathroom with a shower, and a mini kitchen. The property also features generous closet space throughout and floored attic storage. This space is located in a vibrant commercial setting.
    Location Intelligence

    Current Use by Public Records

    DDC Marketing Home ... Film Production Hair Topix Hair Salon Burton Law and Title, ... Law Firm K. Douglas Bowers ... Dental Office Gulf Dental: Dr. ... Dental Office

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Mary Esther
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.6545128
    Latitude
    30.4125214

    Nearby Similar for Sale

    • $99,000
      750 SF

      Professional Office Condo For Sale

      750 SF office condo in a well-maintained professional complex.
      151 Mary Esther Blvd, Mary Esther, FL 32569
      View Details
    • $3,500,000

      Circle K Gas Station Opportunity

      High-volume gas station and convenience store in Okaloosa County, Florida.
      180 Mary Esther Blvd, Mary Esther, FL 32569
      View Details
    • $749,900

      Profitable Car Wash Business Opportunity

      High-income car wash business for sale on high-traffic street.
      120 Mary Esther Blvd, Mary Esther, FL 32569
      View Details
    • $149,000

      Two-Level Office Condo in Florida

      Two-level office condo in Mary Esther, Florida, ready for business.
      151 Mary Esther Blvd, Mary Esther, FL 32569
      View Details
    • $695,000

      Prime Retail Opportunity Near Hurlburt

      Commercial property with high traffic, ideal for retail or entertainment.
      2960 Mary Esther Blvd, Mary Esther, FL 32569
      View Details
    • $1,395,000

      Italian Pizza Restaurant For Sale

      Thriving Italian pizza restaurant with real estate and all FFE.
      3176 Mary Esther Blvd, Mary Esther, FL 32569
      View Details
    • $1,395,000

      Italian Restaurant Business Opportunity

      Thriving Italian pizza restaurant with real estate and all FFE.
      3176 Highway 98, Mary Esther, FL 32569
      View Details
    • $319,900

      Modern Villa Near Santa Rosa Sound

      3-bedroom, 2.5-bath villa near beaches and Hurlburt Field.
      36 Hatten Ct, Mary Esther, FL 32569
      View Details
    • $319,900

      Modern Villa Near Santa Rosa

      3-bedroom villa near beaches, Hurlburt Field, and local amenities.
      17 Hatten Ct, Mary Esther, FL 32569
      View Details
    • $319,900

      Forest Shores Villas Interior Unit

      3-bedroom, 2.5-bathroom villa near Santa Rosa Sound.
      33 Hatten Ct, Mary Esther, FL 32569
      View Details
    • $319,900

      Forest Shores Villas Interior Unit

      3 bed, 2.5 bath villa near Santa Rosa Sound.
      19 Hatten Ct, Mary Esther, FL 32569
      View Details
    • $319,900

      Forest Shores Villas Interior Unit

      3 bed, 2.5 bath villa near beaches and Hurlburt Field.
      30 Hatten Ct, Mary Esther, FL 32569
      View Details

    FAQs

    What type of property is this?
    Office units - Exceptional commercial space with flexible floor plan and multiple offices.
    Where is this office units located?
    The property is located at 151 Mary Esther Blvd, Unit 510 Mary Esther, FL.
    What is the asking price?
    The asking price for this property is $349,000.
    What are key features of this property?
    This property features: - Currently leased until October 2026, providing immediate return on investment.; - Versatile property suitable for office or retail use.; - Renovated with an open floor plan downstairs for flexible use.
    (850) 664-2100
    Request Owner's contact information
    151 Mary Esther Blvd, Unit 510 Mary Esther, FL 32569
    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.
    151 Mary Esther Blvd, Unit 510
    Mary Esther, FL 32569
    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
    151 Mary Esther Blvd, Unit 510 Mary Esther, FL 32569
    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

    We can help!
    Listing Contact
    Lisa Allen
    Lisa Allen
    (850) 664-2100
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!