Freestanding Restaurant with
For Sale
Contact for pricing
402 Mary Esther Cut Off NW, Fort Walton Beach, FL 32548
Dining, bar, and kitchen areas are complemented by outdoor seating and on-site parking.
Property Size5,145 SF
Price / SF$481.05
Days on Market543
Property Features for 402 Mary Esther Cut Off NW
General Information
Standard status
Active
Size
5,145 SF
Total Parking Spaces
61
Property subtype
RETAIL
Zoning
CG
Additional Details
Traffic Count
32,500 vehicles/day
Patio
Yes
Listing Agency:
Bellcore Commercial LLC
(850) 434-3434
Listed By:
Harry Bell · License ##BK3026917
(850) 240-0527
Source:
Moodyscre
Added: May 8, 2025
Changed: Oct 30
Last Checked: Nov 1 at 4:14AM
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
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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 freestanding restaurant property contains approximately 5,145 SF, with an existing interior arrangement that includes dining, bar, and kitchen areas. Outdoor patio seating and approximately 61 parking spaces are also part of the property. CG zoning is in place.
The property fronts Mary Esther Cut Off NW in Fort Walton Beach, within a commercial corridor with reported traffic of 32,500 vehicles per day. National retailers and shopping centers are in the surrounding commercial area.
The property fronts Mary Esther Cut Off NW in Fort Walton Beach, within a commercial corridor with reported traffic of 32,500 vehicles per day. National retailers and shopping centers are in the surrounding commercial area.
Key Highlights
- Freestanding restaurant property with approximately 5,145 SF
- Existing dining, bar, and kitchen areas
- Outdoor patio seating and approximately 61 parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,790
Cap Rate
5.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,775,800
$2.8M
Cap Rate 7%
$1,982,714
$2.0M
Cap Rate 9%
$1,542,111
$1.5M
Market Conditions
NOI Build-Up for 5,145 SF
Gross rent
$190.8K $37.08/SF
− Vacancy
−$5.7K −$1.11/SF
EGI
$185.1K $35.97/SF
− OpEx
−$46.3K −$8.99/SF
NOI
$138.8K $26.98/SF
Area
Okaloosa County, FL
Vacancy
3.00%
Lease Rate
$37.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,775,800
Cap Rate 7%
$1,982,714
Cap Rate 9%
$1,542,111
Alternative Uses
Best Use
Specialty Retail
$1.98M
$1.73M – $2.31M
NOI $138,790 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
32,500 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
534
Businesses Nearby
339k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 29%
Shops & Services 19%
Apparel 18%
Groceries 17%
T.J. Maxx
Apparel
47,966 visits/mo
0.3 miles
Publix
Groceries
33,069 visits/mo
0.4 miles
The Home Depot
Home Improvements & Furnishings
31,524 visits/mo
0.3 miles
Aldi
Groceries
24,531 visits/mo
0.4 miles
Michaels
Shops & Services
23,304 visits/mo
0.2 miles
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 Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Dining, bar, and kitchen areas are complemented by outdoor seating and on-site parking.
Where is this conventional restaurant located?
The property is located at 402 Mary Esther Cut Off NW Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $2,475,000.
What are key features of this property?
This property features: Freestanding restaurant property with approximately 5,145 SF; Existing dining, bar, and kitchen areas; Outdoor patio seating and approximately 61 parking spaces
