Office Building with Deceleration
New
For Sale
$1,240,000
1333 Miracle Strip Pkwy Se, Fort Walton Beach, FL 32548
The interior includes private offices, a conference room, kitchen, and multiple storage areas.
Property Size3,546 SF
Price / SF$349.69
Days on Market7
Property Features for 1333 Miracle Strip Pkwy Se
General Information
Standard status
Active
Size
3,546 SF
Additional Details
Property Use
Office
Building Details
Year Renovated
2014
Buildings
1
Listing Agency:
Anchor Realty Florida
(850) 653-3333
Listed By:
Paul T Lacourse · License #B1220
(850) 293-5389
Source:
Exprealty
Added: Oct 18
Changed: Oct 23
Last Checked: Oct 23 at 6:04PM
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 Anchor Realty Florida
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,546-square-foot office building has 10 offices, including one with cubicles, plus a conference room, kitchen, and two bathrooms. A spacious entry accommodates front-desk space. Storage includes a large rear room and two additional rooms. The building was remodeled in 2000 and re-roofed in 2014; its effective year is 2000.
A deceleration lane provides access from the roadway. The property has an asphalt parking lot and a large marquee sign serving eastbound and westbound traffic. Tom Thumb and Destin West are next door.
A deceleration lane provides access from the roadway. The property has an asphalt parking lot and a large marquee sign serving eastbound and westbound traffic. Tom Thumb and Destin West are next door.
Key Highlights
- 3,546‑square‑foot office building with 10 offices
- Deceleration lane provides access from the roadway
- Large marquee sign serves eastbound and westbound traffic
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,797
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$915,940
$915.9K
Cap Rate 7%
$654,243
$654.2K
Cap Rate 9%
$508,856
$508.9K
Market Conditions
NOI Build-Up for 3,546 SF
Gross rent
$74.5K $21.00/SF
− Vacancy
−$13.4K −$3.78/SF
EGI
$61.1K $17.22/SF
− OpEx
−$15.3K −$4.31/SF
NOI
$45.8K $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%
$915,940
Cap Rate 7%
$654,243
Cap Rate 9%
$508,856
Alternative Uses
Best Use
Office B
$654.2K
$572.5K – $763.3K
NOI $45,797 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.37M
$1.20M – $1.59M
NOI $95,656 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
135
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
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - The interior includes private offices, a conference room, kitchen, and multiple storage areas.
Where is this office building located?
The property is located at 1333 Miracle Strip Pkwy Se Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $1,240,000.
What are key features of this property?
This property features: 3,546‑square‑foot office building with 10 offices; Deceleration lane provides access from the roadway; Large marquee sign serves eastbound and westbound traffic
