Medical Office Suite
For Sale
$400,000
1013 Marwalt Drive D, Fort Walton Beach, FL 32547
Office suite with multiple work areas and reception potential, offering convenient client and staff access in Fort Walton Beach.
Property Size2,500 SF
Price / SF$160
Days on Market45
Property Features for 1013 Marwalt Drive D
General Information
Standard status
Active
Size
2,500 SF
Building Details
Tenancy
Multi
Listing Agency:
(850) 852-7653
Listed By:
Brian and Mel Marshall
(850) 852-7653
Source:
Stagerightgroup.idxbroker
Added: Jun 30
Changed: Jul 6
Last Checked: Aug 12 at 3:17AM
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 Brian and Mel Marshall
Investment Insights
Based on property information with market context.
This commercial office suite offers 2,500 square feet of functional space arranged with multiple work areas and reception potential. The layout is suited to a range of professional services, including medical or other small business uses, where a defined front-of-house presence is helpful for client intake and waiting.
Located at 1013 Marwalt Drive D in Fort Walton Beach, the property is described as being in a well-traveled area with strong visibility and accessibility. The offering also notes that other units at this location are available, which can support multi-suite requirements or phased occupancy planning.
For owner-occupants, the space’s combination of work areas and reception-friendly layout supports day-to-day operations for a practice, office team, or professional service provider. For investors, the property is presented as an affordable commercial office option with multiple available units at the same site, offering flexibility for tenanting strategies around professional and medical-oriented businesses.
Located at 1013 Marwalt Drive D in Fort Walton Beach, the property is described as being in a well-traveled area with strong visibility and accessibility. The offering also notes that other units at this location are available, which can support multi-suite requirements or phased occupancy planning.
For owner-occupants, the space’s combination of work areas and reception-friendly layout supports day-to-day operations for a practice, office team, or professional service provider. For investors, the property is presented as an affordable commercial office option with multiple available units at the same site, offering flexibility for tenanting strategies around professional and medical-oriented businesses.
Key Highlights
- 2,500 SF commercial office suite at 1013 Mar Walt Drive in Fort Walton Beach
- Asking price listed at $400,000 for this office space
- Functional layout with multiple work areas and reception potential
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
$32,288
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
8.07%
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%
$645,760
$645.8K
Cap Rate 7%
$461,257
$461.3K
Cap Rate 9%
$358,756
$358.8K
Market Conditions
NOI Build-Up for 2,500 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
$52.5K $21.00/SF
− Vacancy
−$9.5K −$3.78/SF
EGI
$43.1K $17.22/SF
− OpEx
−$10.8K −$4.31/SF
NOI
$32.3K $12.92/SF
Area
Okaloosa County, FL
Vacancy
18.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$645,760
Cap Rate 7%
$461,257
Cap Rate 9%
$358,756
Alternative Uses
Best Use
Office B
$461.3K
$403.6K – $538.1K
NOI $32,288 @ 7.0% cap · market cap 8.07%
Second Best
Healthcare Medical
$402.8K
$352.4K – $469.9K
NOI $28,193 @ 7.0% cap · market cap 7.05%
Theoretical Best
Specialty Retail
$963.4K
$843.0K – $1.12M
NOI $67,439 @ 7.0% cap · market cap 16.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,339
Businesses Nearby
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office suite with multiple work areas and reception potential, offering convenient client and staff access in Fort Walton Beach.
Where is this office units located?
The property is located at 1013 Marwalt Drive D Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2,500 SF commercial office suite at 1013 Mar Walt Drive in Fort Walton Beach; Asking price listed at $400,000 for this office space; Functional layout with multiple work areas and reception potential
