Mixed-Use Property With Auto
For Sale
$2,800,000
20 NE Hollywood Boulevard, Fort Walton Beach, FL 32548
Commercial for Sale, Fort Walton Beach, FL
Property Size13,513 SF
Lot Size2.76 Acres
Price / SF$207.21
Days on Market238
Property Features for 20 NE Hollywood Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MX2- Mixed Use
Directions
From Eglin Pkwy, travel west on Hollywood Blvd approximately 1/3 of a mile, and the property is on your left, across from the FWB Fire Department and city ballfield.
Subdivision
12 - Fort Walton Beach
Standard status
Active
APN
13-2S-24-1220-0005-005A
Lot size
2.76 Acres
Taxes and HOA fees
Tax Description
HOWARD GILL S/D LOT 5 BLK 5 EX THAT S PORTION OF LOT 5 AS RECORDED IN OR 152 PG 277
Legal Description
HOWARD GILL S/D LOT 5 BLK 5 EX THAT S PORTION OF LOT 5 AS RECORDED IN OR 152 PG 277
Amenities
storefront/shop space
warehouse and storage buildings
lobby and office areas
privacy-fenced laydown yard
Listing Agency:
Taylor Allen Properties LLC
(850) 259-2894
Listed By:
Christopher L Wooten · License #3435164
(850) 502-9900
Added: Jan 16
Changed: Sep 11
Last Checked: Sep 11 at 5:06PM
MLS# 993015
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.
This mixed-use assemblage combines seven parcels with four buildings totaling approximately 13,513 square feet. The improvements include multiple auto service bays, storefront and shop areas, warehouse and storage buildings, plus lobby and office space. A privacy-fenced laydown yard of approximately .41 acres adds room for outside storage or parking. The former auto service facilities are vacant, while Haudini Upholstery remains in operation.
The property includes approximately 2.76 acres with over 429 feet of frontage along Hollywood Boulevard and rear access from Park Cir/Park Pl. It is less than one mile from U.S. Highway 98 and approximately one-third of a mile from Eglin Parkway’s primary commercial corridor. MX-2 Mixed-Use High zoning applies to the site.
The property includes approximately 2.76 acres with over 429 feet of frontage along Hollywood Boulevard and rear access from Park Cir/Park Pl. It is less than one mile from U.S. Highway 98 and approximately one-third of a mile from Eglin Parkway’s primary commercial corridor. MX-2 Mixed-Use High zoning applies to the site.
Key Highlights
- Seven combined parcels totaling approximately 2.76 acres
- Four buildings with approximately 13,513 square feet
- Over 429 feet of frontage along Hollywood Boulevard
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
$194,243
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
6.94%
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%
$3,884,860
$3.9M
Cap Rate 7%
$2,774,900
$2.8M
Cap Rate 9%
$2,158,256
$2.2M
Market Conditions
NOI Build-Up for 13,513 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
$300.0K $22.20/SF
− Vacancy
−$22.5K −$1.67/SF
EGI
$277.5K $20.54/SF
− OpEx
−$83.2K −$6.16/SF
NOI
$194.2K $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%
$3,884,860
Cap Rate 7%
$2,774,900
Cap Rate 9%
$2,158,256
Alternative Uses
Best Use
Retail
$2.77M
$2.43M – $3.24M
NOI $194,243 @ 7.0% cap · market cap 6.94%
Second Best
Mixed Use
$2.35M
$2.05M – $2.74M
NOI $164,183 @ 7.0% cap · market cap 5.86%
Theoretical Best
Specialty Retail
$5.21M
$4.56M – $6.08M
NOI $364,523 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,863
Businesses Nearby
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 Industrial in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - MX-2 zoning supports varied commercial uses across shop, warehouse, office, and outdoor storage areas.
Where is this mixed-use property located?
The property is located at 20 NE Hollywood Boulevard Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Seven combined parcels totaling approximately 2.76 acres; Four buildings with approximately 13,513 square feet; Over 429 feet of frontage along Hollywood Boulevard
