Gulf-Front Two-Story Office
For Sale
$699,950
348 Sw Miracle Strip Pkwy Unit 34/35, Fort Walton Beach, FL 32548
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 Market465
Property Features for 348 Sw Miracle Strip Pkwy Unit 34/35
General Information
Standard status
Active
Size
4,866 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Building Details
Stories
2
Listing Agency:
EXP Realty LLC
Listed By:
Gregory E Ganske · License #3445831
(512) 769-3230
Source:
Emeraldcoasthomefinder
Added: Jul 21, 2025
Changed: Oct 25
Last Checked: Oct 28 at 8:43AM
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
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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 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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,844
Cap Rate
8.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,256,880
$1.3M
Cap Rate 7%
$897,771
$897.8K
Cap Rate 9%
$698,267
$698.3K
Market Conditions
NOI Build-Up for 4,866 SF
Gross rent
$102.2K $21.00/SF
− Vacancy
−$18.4K −$3.78/SF
EGI
$83.8K $17.22/SF
− OpEx
−$20.9K −$4.31/SF
NOI
$62.8K $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%
$1,256,880
Cap Rate 7%
$897,771
Cap Rate 9%
$698,267
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
382
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
Frequently Asked Questions
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 Pkwy 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
