Office/Warehouse in Fort Walton
For Sale
$1,250,000
2 NW Racetrack Road, Fort Walton Beach, FL 32547
Freestanding 9,760 SF office/warehouse with excellent access and visibility.
Property Size9,760 SF
Lot Size0.81 Acres
Price / SF$128.07
Days on Market518
Property Features for 2 NW Racetrack Road
General Information
Standard status
Active
Size
9,760 SF
Lot size
0.81 Acres
Property subtype
Commercial
Listing Agency:
TAYLOR ALLEN PROPERTIES LLC
(850) 259-2894
Listed By:
CHAD KNAEPPLE · License #3050854
(850) 687-4075
Source:
Corcoran
Added: May 20, 2025
Changed: Oct 16
Last Checked: Oct 16 at 9:11AM
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 TAYLOR ALLEN PROPERTIES LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 9,760 square foot freestanding office and warehouse property is available for sale. The building includes 5,140 square feet of office and showroom space, along with 4,620 square feet of warehouse area. Situated on a 0.8-acre lot, the property provides 30 parking spaces. It benefits from access to both Mooney Road and Racetrack Road, offering convenient access and visibility, making it suitable for service-related businesses. The location has an average annual daily traffic count of 28,500.
Key Highlights
- Freestanding 9760 sf Office/Warehouse
- Excellent access and visibility on .8 acres
- Features 5140 sf of Office/Showroom and 4620 sf of warehouse space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$107,340
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,146,800
$2.1M
Cap Rate 7%
$1,533,429
$1.5M
Cap Rate 9%
$1,192,667
$1.2M
Market Conditions
NOI Build-Up for 9,760 SF
Gross rent
$175.7K $18.00/SF
− Vacancy
−$10.5K −$1.08/SF
EGI
$165.1K $16.92/SF
− OpEx
−$57.8K −$5.92/SF
NOI
$107.3K $11.00/SF
Area
Okaloosa County, FL
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,146,800
Cap Rate 7%
$1,533,429
Cap Rate 9%
$1,192,667
Alternative Uses
Best Use
Flex RnD
$1.53M
$1.34M – $1.79M
NOI $107,340 @ 7.0% cap · market cap 8.59%
Second Best
Industrial
$721.7K
$631.5K – $842.0K
NOI $50,519 @ 7.0% cap · market cap 4.04%
Theoretical Best
Specialty Retail
$3.76M
$3.29M – $4.39M
NOI $263,283 @ 7.0% cap · market cap 21.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
686
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- That's My Dogg — food truck Chevron gas station, 708 Lewis Turner Boulevard mobile, Fort Walton Beach, FL 32547
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding 9,760 SF office/warehouse with excellent access and visibility.
Where is this flex space located?
The property is located at 2 NW Racetrack Road Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Freestanding 9760 sf Office/Warehouse; Excellent access and visibility on .8 acres; Features 5140 sf of Office/Showroom and 4620 sf of warehouse space
