Medical Office
New
For Sale
$1,119,000
1755 Lewis Turner Blvd, Fort Walton Beach, FL 32548
Brick construction and ample on-site parking support a professional office setting.
Property Size4,400 SF
Price / SF$254.32
Days on Market5
Property Features for 1755 Lewis Turner Blvd
General Information
Standard status
Active
Size
4,400 SF
Class
Class A
Property subtype
Commercial
Building Details
Buildings
1
Construction
brick
Listing Agency:
NBI Properties Inc
Listed By:
Craig S Barrett · License #3294646
(850) 243-0007
Source:
Susan.forsaleonthegulfcoast
Added: Oct 4
Changed: Oct 7
Last Checked: Oct 7 at 11:37AM
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 NBI Properties Inc
Investment Insights
Based on property information with market context.
This 4,400-square-foot brick medical office building was previously used by an orthodontist and is described as professional office space. An adjacent parcel is included, along with ample parking.
The property is on Lewis Turner Boulevard in Fort Walton Beach, between Eglin AFB and Hurlburt AFB. It is also near a hospital and the courthouse.
The property is on Lewis Turner Boulevard in Fort Walton Beach, between Eglin AFB and Hurlburt AFB. It is also near a hospital and the courthouse.
Key Highlights
- 4,400 SF medical office building
- Former orthodontist office
- Brick construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,826
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,136,520
$1.1M
Cap Rate 7%
$811,800
$811.8K
Cap Rate 9%
$631,400
$631.4K
Market Conditions
NOI Build-Up for 4,400 SF
Gross rent
$92.4K $21.00/SF
− Vacancy
−$16.6K −$3.78/SF
EGI
$75.8K $17.22/SF
− OpEx
−$18.9K −$4.31/SF
NOI
$56.8K $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%
$1,136,520
Cap Rate 7%
$811,800
Cap Rate 9%
$631,400
Alternative Uses
Best Use
Office B
$811.8K
$710.3K – $947.1K
NOI $56,826 @ 7.0% cap · market cap 5.08%
Second Best
Healthcare Medical
$708.8K
$620.2K – $827.0K
NOI $49,619 @ 7.0% cap · market cap 4.43%
Theoretical Best
Specialty Retail
$1.70M
$1.48M – $1.98M
NOI $118,693 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
Under-served
Demand for This Use
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Brick construction and ample on-site parking support a professional office setting.
Where is this medical office space located?
The property is located at 1755 Lewis Turner Blvd Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $1,119,000.
What are key features of this property?
This property features: 4,400 SF medical office building; Former orthodontist office; Brick construction
