Fort Walton Beach Office
For Sale
$670,000
30 Ferry Rd SE, Fort Walton Beach, FL 32548
NNN leased office building in Fort Walton Beach, Florida.
Property Size2,208 SF
Price / SF$303.44
Days on Market274
Property Features for 30 Ferry Rd SE
General Information
Standard status
Active
Size
2,208 SF
Class
C
Property subtype
Office
Building Details
Building Size
2,208 SF
Year Built
2007
Listing Agency:
Bellcore Commercial LLC
(850) 240-0527
Listed By:
Harry Bell Jr. · License #FL #BK3026917
(850) 240-0527
Source:
Bellcorecommercial
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: Aug 22 at 4:07AM
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 Bellcore Commercial LLC
Investment Insights
Based on property information with market context.
This NNN leased office building is an investment opportunity located in an income tax-free state, situated on approximately 0.23 acres in the heart of Fort Walton Beach. The property is located in the core retail trade area and shares a parking lot with Step One Automotive Group. The location is near Eglin Parkway, a main thoroughfare experiencing over 53,000 vehicles per day. The property is within minutes of numerous national retailers, restaurants, and other businesses, including Ross Dress For Less, Ulta, Five Below, West Marine, Winn-Dixie, Party City, Buffalo Wild Wings, Five Guys, Starbucks, and Firehouse Subs. Fort Walton Beach is located between Pensacola and Panama City. The trade area is largely characterized by military personnel from Eglin Air Force Base and Hurlburt Field. Eglin Air Force Base covers over 463,000 acres and employs more than 8,500 military and approximately 4,500 civilians. Hurlburt Field has 10,782 active duty military personnel and 1,316 civilian employees, creating a stable employment base. New projects and infrastructure improvements within the Fort Walton Beach MSA have drawn private development, creating new jobs and a booming economy. The building has a size of 2208 square feet. Seller financing will be considered.
Key Highlights
- NNN Leased Office Building providing stable income in an income tax‑free state.
- Located in the core retail trade area of Fort Walton Beach with high traffic (53,000 vehicles per day).
- Proximity to Eglin Air Force Base and Hurlburt Field provides a stable employment base.
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
$28,516
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
4.26%
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%
$570,320
$570.3K
Cap Rate 7%
$407,371
$407.4K
Cap Rate 9%
$316,844
$316.8K
Market Conditions
NOI Build-Up for 2,208 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
$46.4K $21.00/SF
− Vacancy
−$8.3K −$3.78/SF
EGI
$38.0K $17.22/SF
− OpEx
−$9.5K −$4.31/SF
NOI
$28.5K $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 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%
$570,320
Cap Rate 7%
$407,371
Cap Rate 9%
$316,844
Alternative Uses
Best Use
Office B
$407.4K
$356.5K – $475.3K
NOI $28,516 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$850.9K
$744.5K – $992.7K
NOI $59,562 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,552
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - NNN leased office building in Fort Walton Beach, Florida.
Where is this office building located?
The property is located at 30 Ferry Rd SE Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: NNN Leased Office Building providing stable income in an income tax‑free state.; Located in the core retail trade area of Fort Walton Beach with **high traffic (53,000 vehicles per day)**.; Proximity to Eglin Air Force Base and Hurlburt Field provides a stable employment base.
