Multi-Office
New
For Sale
$500,000
Pending
133 NE Hospital Drive, Fort Walton Beach, FL 32548
Commercial for Sale, Fort Walton Beach, FL
Property Size2,722 SF
Days on Market2
Property Features for 133 NE Hospital Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
2,722 Sqft office formerly used as a real estate office. Space consist of 6 private offices, reception area, file room and break room. Plenty of parking.
Subdivision
12 - Fort Walton Beach
Standard status
Pending
APN
13-2S-24-195B-000E-0030
Taxes and HOA fees
Tax Description
2,722 Sqft office formerly used as a real estate office. Space consist of 6 private offices, reception area, file room and break room. Plenty of parking.
Legal Description
2,722 Sqft office formerly used as a real estate office. Space consist of 6 private offices, reception area, file room and break room. Plenty of parking.
Listing Agency:
NBI Properties Inc
(850) 243-0007
Listed By:
Craig S Barrett · License #3294646
(850) 217-0303
Added: Oct 15
Last Checked: Oct 16 at 10:06PM
MLS# 1013764
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,722-square-foot office building is arranged with six private offices, a reception area, a file room, and a break room. The configuration supports a range of office operations, with the individual rooms separated from shared reception and staff areas.
Parking is available at the property, located at 133 NE Hospital Drive in Fort Walton Beach, Florida.
Parking is available at the property, located at 133 NE Hospital Drive in Fort Walton Beach, Florida.
Key Highlights
- 2,722 square feet of office space
- Six private offices plus a reception area
- Separate file room and break room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,155
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$703,100
$703.1K
Cap Rate 7%
$502,214
$502.2K
Cap Rate 9%
$390,611
$390.6K
Market Conditions
NOI Build-Up for 2,722 SF
Gross rent
$57.2K $21.00/SF
− Vacancy
−$10.3K −$3.78/SF
EGI
$46.9K $17.22/SF
− OpEx
−$11.7K −$4.31/SF
NOI
$35.2K $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 Rate 5%
$703,100
Cap Rate 7%
$502,214
Cap Rate 9%
$390,611
Alternative Uses
Best Use
Office B
$502.2K
$439.4K – $585.9K
NOI $35,155 @ 7.0% cap · market cap 7.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.05M
$917.9K – $1.22M
NOI $73,428 @ 7.0% cap · market cap 14.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,365
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - The office layout includes private rooms, a reception area, file storage, and a break room.
Where is this office building located?
The property is located at 133 NE Hospital Drive Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2,722 square feet of office space; Six private offices plus a reception area; Separate file room and break room
