Office Suite with Private
For Sale
$135,000
323 Page Bacon Road, Mary Esther, FL 32569
Commercial for Sale, Mary Esther, FL
Property Size844 SF
Lot Size0.02 Acres
Price / SF$159.95
Days on Market9
Property Features for 323 Page Bacon Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Directions
1. Head west on US-98 W toward Destin 2. Continue straight through Destin and Fort Walton Beach 3. Stay on US-98 W as it becomes Miracle Strip Pkwy
Subdivision
12 - Fort Walton Beach
Standard status
Active
APN
16-2S-24-195G-0000-0050
Lot size
0.02 Acres
Taxes and HOA fees
Tax Description
Park Place Plaza Unit 5
Legal Description
Park Place Plaza Unit 5
Listing Agency:
NBI Properties Inc
(850) 243-0007
Listed By:
Dustin Parkman · License #3307056
(850) 218-8408
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 7 at 9:06AM
MLS# 1012952
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 844-square-foot office suite in Park Place Plaza is Unit 5, a breezeway space on the left side of the complex. Its layout includes three private offices, two large open rooms, a reception area, and a private restroom. New paint and flooring have refreshed the interior. The property is zoned C-2.
The suite is on Page Bacon Road in Mary Esther, near Highway 98, residential neighborhoods, and established commercial activity. The corridor carries an average daily traffic count of approximately 22,500 vehicles.
The suite is on Page Bacon Road in Mary Esther, near Highway 98, residential neighborhoods, and established commercial activity. The corridor carries an average daily traffic count of approximately 22,500 vehicles.
Key Highlights
- 844‑square‑foot office suite, Unit 5, in Park Place Plaza
- Three private offices, two large open rooms, reception area, and private restroom
- New paint and flooring throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,900
Cap Rate
8.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$218,000
$218.0K
Cap Rate 7%
$155,714
$155.7K
Cap Rate 9%
$121,111
$121.1K
Market Conditions
NOI Build-Up for 844 SF
Gross rent
$17.7K $21.00/SF
− Vacancy
−$3.2K −$3.78/SF
EGI
$14.5K $17.22/SF
− OpEx
−$3.6K −$4.31/SF
NOI
$10.9K $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%
$218,000
Cap Rate 7%
$155,714
Cap Rate 9%
$121,111
Alternative Uses
Best Use
Office B
$155.7K
$136.3K – $181.7K
NOI $10,900 @ 7.0% cap · market cap 8.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$325.2K
$284.6K – $379.5K
NOI $22,767 @ 7.0% cap · market cap 16.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,037
Businesses Nearby
Explore this area
Business Placement
Demographics for 32569, FL
12,378
Population
5,795
Households
2.1
Avg Household Size
38
Median Age
40%
College-Educated
95%
High-School Grad
4.2 sq mi
ZIP Area
2,947
Density / Sq Mi
$73,762
Median Household Income
$43,832
Median Earnings
$1,456
Median Rent
$296,400
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - C-2 zoning, a reception area, and two open rooms complement the suite’s private offices.
Where is this office units located?
The property is located at 323 Page Bacon Road Mary Esther, FL.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: 844‑square‑foot office suite, Unit 5, in Park Place Plaza; Three private offices, two large open rooms, reception area, and private restroom; New paint and flooring throughout
