Fort Walton Beach Retail
For Sale
$1,950,000
Pending
150 SE Hollywood Boulevard, Fort Walton Beach, FL 32548
7,500 SF retail property in downtown Fort Walton Beach.
Property Size7,500 SF
Lot Size0.34 Acres
Days on Market153
Property Features for 150 SE Hollywood Boulevard
General Information
Standard status
Pending
Size
7,500 SF
Lot size
0.34 Acres
Property subtype
Commercial
Listing Agency:
ONE COMMERCIAL PROPERTIES LLC
(850) 226-8011
Listed By:
MICHEAL A WHITFIELD
Source:
Corcoran
Added: Mar 13
Changed: Aug 8
Last Checked: Jul 23 at 8:00AM
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 ONE COMMERCIAL PROPERTIES LLC
Investment Insights
Based on property information with market context.
This 7,500 SF property is located in the downtown Fort Walton Beach Business District, specifically on the southwest corner of Hollywood Boulevard SE and Chestnut Avenue. Hollywood Boulevard is a major east-west arterial road in Fort Walton Beach. The property includes 1,440 SF of HVAC office/showroom space, 5,160 SF of shop/service space, and 900 SF of storage space. The property has been recently updated with new paint and flooring and is in excellent condition. It presents a great location for many retail opportunities. Plans were in place to open a sports bar at this location, and a working open development order is in place. New A/C throughout, a new sprinkler system, grease traps, cooler freezers, and floor drains are all installed. A variety of furniture and kitchen equipment have already been purchased.
Key Highlights
- Prime downtown Fort Walton Beach location at the corner of Hollywood Blvd SE and Chestnut Ave.
- Owner financing available.
- Existing development order and plans for a sports bar.
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
$107,809
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
5.53%
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%
$2,156,180
$2.2M
Cap Rate 7%
$1,540,129
$1.5M
Cap Rate 9%
$1,197,878
$1.2M
Market Conditions
NOI Build-Up for 7,500 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
$166.5K $22.20/SF
− Vacancy
−$12.5K −$1.67/SF
EGI
$154.0K $20.54/SF
− OpEx
−$46.2K −$6.16/SF
NOI
$107.8K $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 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%
$2,156,180
Cap Rate 7%
$1,540,129
Cap Rate 9%
$1,197,878
Alternative Uses
Best Use
Specialty Retail
$2.89M
$2.53M – $3.37M
NOI $202,318 @ 7.0% cap · market cap 10.38%
Second Best
Retail
$1.54M
$1.35M – $1.80M
NOI $107,809 @ 7.0% cap · market cap 5.53%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,610
Businesses Nearby
223k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 24%
Apparel 18%
Groceries 14%
Ross Dress for Less
Apparel
39,879 visits/mo
0.5 miles
Publix
Groceries
31,489 visits/mo
0.5 miles
Dodge's Southern Style
Shops & Services
20,894 visits/mo
0.1 miles
Starbucks
Dining
17,859 visits/mo
0.5 miles
McDonald's
Dining
16,333 visits/mo
0.2 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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 7,500 SF retail property in downtown Fort Walton Beach.
Where is this retail space located?
The property is located at 150 SE Hollywood Boulevard Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Prime downtown Fort Walton Beach location at the corner of Hollywood Blvd SE and Chestnut Ave.; Owner financing available.; Existing development order and plans for a sports bar.
