Medical Office Building on Beal
For Sale
$575,000
355 NW Beal Parkway, Fort Walton Beach, FL 32548
Commercial for Sale, Fort Walton Beach, FL
Property Size3,271 SF
Lot Size0.51 Acres
Price / SF$175.79
Days on Market367
Property Features for 355 NW Beal Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-3: General Co
Directions
From the intersection of Mary Esther Cut Off, and Beal Pkwy, turn right onto Beal, and the building will be immediately on your left.
Subdivision
12 - Fort Walton Beach
Standard status
Active
APN
10-2S-24-2110-0003-0060
Lot size
0.51 Acres
Taxes and HOA fees
Tax Description
RYOR S/D COM INT OF E LINE LOT 6 BLK 3
Legal Description
RYOR S/D COM INT OF E LINE LOT 6 BLK 3
Listing Agency:
Taylor Allen Properties LLC
(850) 259-2894
Listed By:
Christopher L Wooten · License #3435164
(850) 502-9900
Added: Oct 14, 2025
Changed: Oct 14
Last Checked: Oct 15 at 10:06AM
MLS# 1013709
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 medical office property comprises a 3,271-square-foot building on a 0.51-acre parcel. Its prior use was medical office space, and the C-3: General Co zoning allows professional office use as well as other uses permitted in that district.
The site fronts Beal Parkway in Fort Walton Beach, with approximately 229 feet along the road. Reported daily traffic is 38,000 cars.
The site fronts Beal Parkway in Fort Walton Beach, with approximately 229 feet along the road. Reported daily traffic is 38,000 cars.
Key Highlights
- 3,271 SF office building on a 0.51‑acre parcel
- Approximately 229 ft. of frontage on Beal Parkway
- 38,000 cars per day in reported daily traffic
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,245
Cap Rate
7.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$844,900
$844.9K
Cap Rate 7%
$603,500
$603.5K
Cap Rate 9%
$469,389
$469.4K
Market Conditions
NOI Build-Up for 3,271 SF
Gross rent
$68.7K $21.00/SF
− Vacancy
−$12.4K −$3.78/SF
EGI
$56.3K $17.22/SF
− OpEx
−$14.1K −$4.31/SF
NOI
$42.2K $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%
$844,900
Cap Rate 7%
$603,500
Cap Rate 9%
$469,389
Alternative Uses
Best Use
Office B
$603.5K
$528.1K – $704.1K
NOI $42,245 @ 7.0% cap · market cap 7.35%
Second Best
Healthcare Medical
$527.0K
$461.1K – $614.8K
NOI $36,887 @ 7.0% cap · market cap 6.42%
Theoretical Best
Specialty Retail
$1.26M
$1.10M – $1.47M
NOI $88,238 @ 7.0% cap · market cap 15.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
Under-served
Demand for This Use
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
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- Friendship Veterinary Hospital — 623 Beal Pkwy NW, Fort Walton Beach, FL 32548
- Zorn Carter DVM — 623 Beal Pkwy NW, Fort Walton Beach, FL 32548
Frequently Asked Questions
What type of property is this?
Medical Office Space - The C-3: General Co zoning supports professional office use and other allowable commercial uses.
Where is this medical office space located?
The property is located at 355 NW Beal Parkway Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3,271 SF office building on a 0.51‑acre parcel; Approximately 229 ft. of frontage on Beal Parkway; 38,000 cars per day in reported daily traffic
