Flexible Mixed-Use
For Sale
$1,500,000
142-144 SE Highway 98, Fort Walton Beach, FL 32548
An open interior with office areas and two bathrooms can serve as one space or be divided into two units.
Property Size4,275 SF
Price / SF$350.88
Days on Market158
Property Features for 142-144 SE Highway 98
General Information
Standard status
Active
Size
4,275 SF
Property subtype
Commercial
Listing Agency:
Coldwell Banker Realty
(850) 863-4563
Listed By:
Vinnie Chulk · License #3269135
(850) 585-5526
Source:
Emeraldgulfrealty
Added: May 20
Changed: Oct 23
Last Checked: Oct 23 at 5:38PM
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 Coldwell Banker Realty
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 mixed-use property contains approximately 4,275 square feet, with an open interior, several office areas, and two bathrooms. The floor plan can remain a single space or be separated into two units, offering flexibility in how the space is arranged.
At 142-144 SE Highway 98 in downtown Fort Walton Beach, the property sits across from The Landing Park. Waterfront areas, restaurants, events, and other downtown activity are nearby.
At 142-144 SE Highway 98 in downtown Fort Walton Beach, the property sits across from The Landing Park. Waterfront areas, restaurants, events, and other downtown activity are nearby.
Key Highlights
- Approximately 4,275 square feet
- Layout can be used as one space or separated into two units
- Open interior with multiple office areas and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,451
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,229,020
$1.2M
Cap Rate 7%
$877,871
$877.9K
Cap Rate 9%
$682,789
$682.8K
Market Conditions
NOI Build-Up for 4,275 SF
Gross rent
$94.9K $22.20/SF
− Vacancy
−$7.1K −$1.67/SF
EGI
$87.8K $20.54/SF
− OpEx
−$26.3K −$6.16/SF
NOI
$61.5K $14.37/SF
Area
Okaloosa County, FL
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,229,020
Cap Rate 7%
$877,871
Cap Rate 9%
$682,789
Alternative Uses
Best Use
Retail
$877.9K
$768.1K – $1.02M
NOI $61,451 @ 7.0% cap · market cap 4.10%
Second Best
Mixed Use
$742.0K
$649.3K – $865.7K
NOI $51,941 @ 7.0% cap · market cap 3.46%
Theoretical Best
Specialty Retail
$1.65M
$1.44M – $1.92M
NOI $115,321 @ 7.0% cap · market cap 7.69%
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
1,332
Businesses Nearby
49k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 64%
Shops & Services 17%
Dining 11%
Hotels & Casinos 5%
Publix
Groceries
31,489 visits/mo
0.2 miles
Waffle House
Dining
5,380 visits/mo
0.2 miles
Family Dollar
Shops & Services
4,393 visits/mo
0.5 miles
Cash America
Shops & Services
1,971 visits/mo
0.4 miles
Residence Inn Fort Walton Beach
Hotels & Casinos
1,454 visits/mo
0.4 miles
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 Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - An open interior with office areas and two bathrooms can serve as one space or be divided into two units.
Where is this mixed-use property located?
The property is located at 142-144 SE Highway 98 Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Approximately 4,275 square feet; Layout can be used as one space or separated into two units; Open interior with multiple office areas and two bathrooms
