Medical Office with Additional
New
For Sale
$1,119,000
1755 Lewis Turner Boulevard, Fort Walton Beach, FL 32548
Commercial for Sale, Fort Walton Beach, FL
Property Size4,400 SF
Lot Size0.75 Acres
Price / SF$254.32
Days on Market2
Property Features for 1755 Lewis Turner Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Located on Lewis Turner just west of the Fort Walton Beach Golf Couse
Subdivision
12 - Fort Walton Beach
Standard status
Active
APN
35-1S-24-185A-0000-0890; 35-1S-24-185A-0000-0560
Lot size
0.75 Acres
Taxes and HOA fees
Tax Description
3 parcels 35-1S-24-185A-0000-0560 35-1S-24-185A-0000-0890 35-1S-24-185A-0000-00CA
Legal Description
3 parcels 35-1S-24-185A-0000-0560 35-1S-24-185A-0000-0890 35-1S-24-185A-0000-00CA
Listing Agency:
NBI Properties Inc
(850) 243-0007
Listed By:
Craig S Barrett · License #3294646
(850) 217-0303
Added: Oct 5
Last Checked: Oct 6 at 2:06PM
MLS# 1013354
Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The 4,400-SF medical office is a brick building with an additional parcel included. The property is suited to medical or other professional office use.
The site is on Lewis Turner Boulevard between Eglin AFB and Hurlburt AFB, near a hospital and courthouse. The combined property encompasses 0.75 acres.
The site is on Lewis Turner Boulevard between Eglin AFB and Hurlburt AFB, near a hospital and courthouse. The combined property encompasses 0.75 acres.
Key Highlights
- 4,400 SF medical office building
- Additional parcel is included with the property
- 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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Current Use
Lease Details
Yes
Paved road access
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
View Realmo Analytics
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 an included parcel support medical or other professional office use.
Where is this medical office space located?
The property is located at 1755 Lewis Turner Boulevard 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; Additional parcel is included with the property; Brick construction
