Warehouse Redevelopment
For Sale
$525,000
1314 Greendale Avenue, Fort Walton Beach, FL 32547
Warehouse/storage structure offered as an unfinished shell for future commercial build-out, subject to applicable approvals.
Property Size6,785 SF
Lot Size0.32 Acres
Price / SF$77.38
Days on Market9
Property Features for 1314 Greendale Avenue
General Information
Standard status
Active
Size
6,785 SF
Lot size
0.32 Acres
Property subtype
General Commercial
Zoning
warehouse/storage
Property Condition
Severity
Major
Evidence
stripped down to the studs
Additional Details
Land Use
warehouse/storage, commercial
Amenities
3
95 x 145
Building Details
Building Size
6,785 SF
Listing Agency:
Endless Horizons Realty Inc
(850) 217-2311
Listed By:
Stefanie Fair · License #3588822
(850) 217-2311
Source:
Xome
Added: Aug 7
Changed: Aug 15
Last Checked: Aug 15 at 3:58AM
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 Endless Horizons Realty Inc
Investment Insights
Based on property information with market context.
The property includes approximately 6,785 square feet of warehouse/storage building area on an approximately 0.32-acre site. Interior finishes have been removed to the studs, and the former upstairs office is no longer in place, leaving the structure prepared for a new layout and build-out. The property is currently classified for warehouse/storage use, with future commercial applications subject to applicable zoning and county approval.
Located at 1314 Greendale Avenue in Fort Walton Beach, the site measures approximately 95 x 145. Its position within the Fort Walton Beach area provides access to surrounding commercial corridors. Buyers should independently verify square footage, measurements, zoning, permitted uses, and other property details important to their intended plans.
Located at 1314 Greendale Avenue in Fort Walton Beach, the site measures approximately 95 x 145. Its position within the Fort Walton Beach area provides access to surrounding commercial corridors. Buyers should independently verify square footage, measurements, zoning, permitted uses, and other property details important to their intended plans.
Key Highlights
- Approximately 6,785 square feet of warehouse/storage building area
- Approximately 0.32‑acre site
- Interior stripped to the studs for a new build‑out
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
$46,120
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
8.78%
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%
$922,400
$922.4K
Cap Rate 7%
$658,857
$658.9K
Cap Rate 9%
$512,444
$512.4K
Market Conditions
NOI Build-Up for 6,785 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
$57.0K $8.40/SF
− Vacancy
−$2.7K −$0.40/SF
EGI
$54.3K $8.00/SF
− OpEx
−$8.1K −$1.20/SF
NOI
$46.1K $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%
$922,400
Cap Rate 7%
$658,857
Cap Rate 9%
$512,444
Alternative Uses
Best Use
Warehouse
$658.9K
$576.5K – $768.7K
NOI $46,120 @ 7.0% cap · market cap 8.78%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.61M
$2.29M – $3.05M
NOI $183,030 @ 7.0% cap · market cap 34.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
364
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Space Saver Self Storage — 422 Racetrack Rd NW, Fort Walton Beach, FL 32547
- M R Barrett, Inc. — 331 Green Acres Rd, Fort Walton Beach, FL 32547
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse/storage structure offered as an unfinished shell for future commercial build-out, subject to applicable approvals.
Where is this warehouse located?
The property is located at 1314 Greendale Avenue Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Approximately 6,785 square feet of warehouse/storage building area; Approximately 0.32‑acre site; Interior stripped to the studs for a new build‑out
