Warehouse Redevelopment
For Sale
$525,000
Pending
1314 Greendale Avenue, Fort Walton Beach, FL 32547
Commercial for Sale, Fort Walton Beach, FL
Property Size6,785 SF
Lot Size0.31 Acres
Days on Market40
Property Features for 1314 Greendale Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From Beal Pkwy, turn onto Green Acres Rd. Turn right onto Greendale Ave. 1314 Greendale Ave A will be on the left.
Subdivision
12 - Fort Walton Beach
Standard status
Pending
APN
33-1S-24-0000-0001-0080
Lot size
0.31 Acres
Taxes and HOA fees
Tax Description
Beg 375' W Of Se Cor Of Ne1/4 W95 Ft N 145' E95 Ft S 145' To Beg
Legal Description
Beg 375' W Of Se Cor Of Ne1/4 W95 Ft N 145' E95 Ft S 145' To Beg
Listing Agency:
Endless Horizons Realty Inc
(850) 315-0111
Listed By:
Stefanie K Fair · License #3588822
(850) 217-2311
Added: Aug 11
Changed: Sep 11
Last Checked: Sep 19 at 12:06PM
MLS# 1009684
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 warehouse property at 1314 Greendale Avenue includes approximately 6,785 square feet of building area. The interior has been cleared back to the structural framing, and the former second-floor office has been removed, allowing the next owner to configure the space for a new commercial layout.
The property is classified for warehouse and storage use and is situated in Fort Walton Beach near surrounding commercial corridors. Potential applications include storage, warehouse, owner-user, investor, or other commercial purposes, subject to applicable zoning, county approval, and verification of permitted uses and measurements.
The property is classified for warehouse and storage use and is situated in Fort Walton Beach near surrounding commercial corridors. Potential applications include storage, warehouse, owner-user, investor, or other commercial purposes, subject to applicable zoning, county approval, and verification of permitted uses and measurements.
Key Highlights
- Approximately 6,785 square feet of building area
- Interior cleared to the studs for new construction and build‑out
- Former upstairs office removed from the building
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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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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 - Interior is stripped to the studs for a new 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 building area; Interior cleared to the studs for new construction and build‑out; Former upstairs office removed from the building
