Divisible Retail
For Sale
$1,500,000
142144 142-144 Se Highway 98, Fort Walton Beach, FL 32548
Open commercial layout with offices and two bathrooms, adaptable for retail, office, restaurant, showroom, or entertainment uses.
Property Size4,275 SF
Price / SF$350.88
Days on Market61
Property Features for 142144 142-144 Se Highway 98
General Information
Standard status
Active
Size
4,275 SF
Listing Agency:
Coldwell Banker Realty
Listed By:
Vinnie Chulk · License #3269135
(850) 585-5526
Source:
Cloviscannonhomes
Added: Aug 16
Changed: Oct 6
Last Checked: Oct 15 at 12:05AM
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
Investment Insights
Based on property information with market context.
This retail property contains approximately 4,275 total square feet with an expansive interior that can operate as one larger commercial area or be separated into two units. Existing improvements include multiple office areas, two bathrooms, and substantial open space, supporting a range of retail and commercial configurations.
The property is located at 142-144 SE Highway 98 in downtown Fort Walton Beach, directly across from The Landing Park. Its setting is near the waterfront, restaurants, events, and other downtown activity. A rooftop bar or entertainment concept may be possible, subject to city approval, adding another potential use for the property.
The property is located at 142-144 SE Highway 98 in downtown Fort Walton Beach, directly across from The Landing Park. Its setting is near the waterfront, restaurants, events, and other downtown activity. A rooftop bar or entertainment concept may be possible, subject to city approval, adding another potential use for the property.
Key Highlights
- Approximately 4,275 total square feet of retail space
- Layout can function as one space or be divided into two units
- Multiple office areas, two bathrooms, and substantial open interior area
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
Office B
$788.7K
$690.2K – $920.2K
NOI $55,212 @ 7.0% cap · market cap 3.68%
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
604
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Open commercial layout with offices and two bathrooms, adaptable for retail, office, restaurant, showroom, or entertainment uses.
Where is this retail space located?
The property is located at 142144 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 total square feet of retail space; Layout can function as one space or be divided into two units; Multiple office areas, two bathrooms, and substantial open interior area
