Brick Medical
New
For Sale
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1775 Lewis Turner Blvd, Fort Walton Beach, FL 32547
Professional office space includes an adjacent parcel and ample on-site parking.
Property Size4,400 SF
Price / SF$254.32
Days on Market4
Property Features for 1775 Lewis Turner Blvd
General Information
Standard status
Active
Size
4,400 SF
Class
Class A
Property subtype
OFFICE
Additional Details
Property Use
Medical Office
Building Details
Construction
brick
Listing Agency:
NBI Properties, Inc.
(850) 243-0007
Listed By:
Craig Barrett · License #3294646
(850) 217-0303
Source:
Moodyscre
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 4:33PM
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.
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Investment Insights
Based on property information with market context.
This 4,400-square-foot medical office is a brick building configured for professional office use. An adjacent parcel is included, and the property has ample parking. The space was previously used by an orthodontist.
Located on Lewis Turner Boulevard in Fort Walton Beach, the property sits between Eglin AFB and Hurlburt AFB. A hospital and courthouse are nearby.
Located on Lewis Turner Boulevard in Fort Walton Beach, the property sits between Eglin AFB and Hurlburt AFB. A hospital and courthouse are nearby.
Key Highlights
- 4,400 SF medical office building
- Brick construction with an adjacent parcel included
- Ample on‑site parking
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 32547, FL
35,466
Population
16,112
Households
2.2
Avg Household Size
37
Median Age
28%
College-Educated
89%
High-School Grad
29.0 sq mi
ZIP Area
1,223
Density / Sq Mi
$67,822
Median Household Income
$36,465
Median Earnings
$1,421
Median Rent
$299,400
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Professional office space includes an adjacent parcel and ample on-site parking.
Where is this medical office space located?
The property is located at 1775 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; Brick construction with an adjacent parcel included; Ample on‑site parking
