Gulf-Front Two-Story Office
348 SW Miracle Strip Parkway Unit 34/35 Fort Walton Beach, FL 32548
348 SW Miracle Strip Parkway Unit 34/35, Fort Walton Beach, FL, 32548
$699,950
For Sale
$699,950
Two-story office building with multiple private offices, on-site bathrooms, and ample parking on Gulf-front Miracle Strip Parkway frontage.
Property Size4,866 SF
Price / SF$143.85
Days on Market192
Property Features for 348 SW Miracle Strip Parkway Unit 34/35
General Information
- Standard status
- Active
- Size
- 4,866 SF
- Property subtype
- General Commercial
Listing agency
EXP Realty LLC
(512) 769-3230
Listed by
Gregory Ganske
(512) 769-3230
Source
Xome
Added: Jan 11 Updated: Jul 21 at 4:34PM Checked: Jul 22 at 3:38AM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This two-story office building totals 4,866 SF and is laid out with multiple private offices, expansive large rooms suitable for conference space or open work areas, and convenient on-site bathrooms.
The property fronts Miracle Strip Parkway (US-98) and is positioned directly along the Gulf, providing direct Gulf vistas from many offices and common areas. It is described as offering substantial daily exposure along a high-traffic tourist and business corridor, with access to downtown Fort Walton Beach attractions, dining, shopping, and nearby Okaloosa Island amenities.
On-site parking is described as ample for employees, clients, and visitors, supporting everyday operations for a range of professional and service uses that benefit from waterfront views and prominent frontage.
The property fronts Miracle Strip Parkway (US-98) and is positioned directly along the Gulf, providing direct Gulf vistas from many offices and common areas. It is described as offering substantial daily exposure along a high-traffic tourist and business corridor, with access to downtown Fort Walton Beach attractions, dining, shopping, and nearby Okaloosa Island amenities.
On-site parking is described as ample for employees, clients, and visitors, supporting everyday operations for a range of professional and service uses that benefit from waterfront views and prominent frontage.
Key Highlights
- 4,866 SF, two‑story office building on Gulf of America beachfront along Miracle Strip Parkway in Fort Walton Beach, FL
- Multiple private offices plus large rooms suited for conference areas, collaborative space, or open workstations
- On‑site bathrooms and guest facilities for 3
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $102.2k | $21.00 |
| − Vacancy | −$18.4k | −$3.78 |
| EGI | $83.8k | $17.22 |
| − OpEx | −$20.9k | −$4.31 |
| NOI | $62.8k | $12.92 |
4,866 SF · lease $21.00/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$897.8K
$785.6K – $1.05M
NOI $62,844 @ 7.0% cap · market cap 8.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.88M
$1.64M – $2.19M
NOI $131,264 @ 7.0% cap · market cap 18.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Chicken 'N The Egg
Restaurant
Crafty Hangout
(Bike/Boat/Book/etc) Store
As Seen On TV ...
Corporate Office
Element Home Loans, ...
Loan Service
New American Funding ...
Loan Service
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Two-story office building with multiple private offices, on-site bathrooms, and ample parking on Gulf-front Miracle Strip Parkway frontage.
Where is this office building located?
The property is located at 348 SW Miracle Strip Parkway Unit 34/35 Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $699,950.
What are key features of this property?
This property features: 4,866 SF, two‑story office building on Gulf of America beachfront along Miracle Strip Parkway in Fort Walton Beach, FL; Multiple private offices plus large rooms suited for conference areas, collaborative space, or open workstations; On‑site bathrooms and guest facilities for 3
