Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    428 Mary Esther Cut Off, Unit C Fort Walton Beach, FL 32548

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,095 /Mo

    Office space with open area, private offices, restrooms, parking.

    Property Features for 428 Mary Esther Cut Off

    General Information

    Standard status
    Active

    Building Details

    Year built
    1983

    We can help!

    Listing Contact
    M Kevin Bethea
    M Kevin Bethea
    Source: Corcoran

    Listing Agency: REALTY HOUSE COMMERCIAL PROP Listing Agent: M Kevin Bethea

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Second Floor Office Space Available

    This second-floor office space features a large open area upon entry, along with two private offices and two restrooms. The property includes both front and rear entrances and parking facilities for both. It is located across the street from Publix and Aldi's.
    Location Intelligence

    Current Use by Public Records

    Mc Clung & Associates ... Insurance Agency

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Walton Beach
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.6452601
    Latitude
    30.4244281

    Nearby Similar for Lease

    • $10 SF/Yr
      8,450 SF

      Retail Space in Mariner Plaza

      Retail or office space available in Mariner Plaza.
      224 NE Eglin Pkwy, Fort Walton Beach, FL 32547
      View Details
    • $1,545 /Mo
      1,475 SF

      Office Space on Racetrack Road

      1,475 SF office space with frontage on Racetrack Road.
      17 Racetrack Rd NE, Fort Walton Beach, FL 32547
      View Details
    • $28 SF/Yr
      3,644 SF

      Fort Walton Beach Retail Space

      High-visibility retail property with drive-thru and commercial kitchen.
      302 Racetrack Rd NW, Fort Walton Beach, FL 32547
      View Details
    • $2,850 /Mo
      27,000 SF

      Warehouse with Office Space Available

      Warehouse with office, bathroom, and break-room available for rent.
      922 Denton Blvd, Fort Walton Beach, FL 32547
      View Details
    • $4,866 /Mo
      18,000 SF

      Gulf-Front Office Space Available

      Two-story office building with direct beachfront access and panoramic views.
      348 SW Miracle Strip Pkwy, Fort Walton Beach, FL 32548
      View Details
    • $2,500 /Mo
      1,696 SF

      Downtown Fort Walton Office Space

      Office space with built-in features and convenient parking.
      148 SE Miracle Strip Pkwy, Fort Walton Beach, FL 32548
      View Details
    • $4,526 /Mo
      3,700 SF

      Unique Commercial Space in Florida

      High-visibility commercial space in a thriving coastal market.
      174 SE Miracle Strip Pkwy, Fort Walton Beach, FL 32548
      View Details
    • $1,248 /Mo
      892 SF

      Retail Space with High Visibility

      Retail space with front and rear access and parking.
      294 Eglin Pkwy NE, Fort Walton Beach, FL 32547
      View Details
    • $1,500 /Mo
      1,100 SF

      Retail Space with New Renovations

      Renovated retail space featuring open layout and storage room.
      Eglin Pkwy, Fort Walton Beach, FL 32548
      View Details
    • $4,275 /Mo
      5,400 SF

      Prime Commercial Space in Florida

      Versatile commercial space in a high-visibility Fort Walton Beach location.
      42 SE Tupelo Ave, Fort Walton Beach, FL 32548
      View Details
    • $2,344 /Mo
      2,250 SF

      Versatile Office and Retail Space

      Office and retail space in the heart of Fort Walton Beach.
      36 SE Tupelo Ave SE, Fort Walton Beach, FL 32548
      View Details
    • Contact for pricing

      Retail Space on Busy Corridor

      Retail space for lease near military base and technology park.
      550 Mary Esther Cut Off NW, Fort Walton Beach, FL 32548
      View Details

    FAQs

    What type of property is this?
    Office units - Office space with open area, private offices, restrooms, parking.
    Where is this office units located?
    The property is located at 428 Mary Esther Cut Off, Unit C Fort Walton Beach, FL.
    What is the lease rate?
    The lease rate is $1,095 /Mo.
    What are key features of this property?
    This property features: - Large open office area upon entry; - Front and rear entrances for easy access; - Front and rear parking
    (850) 244-9195
    Request Owner's contact information
    428 Mary Esther Cut Off, Unit C Fort Walton Beach, FL 32548
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    428 Mary Esther Cut Off, Unit C
    Fort Walton Beach, FL 32548
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    428 Mary Esther Cut Off, Unit C Fort Walton Beach, FL 32548
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    M Kevin Bethea
    M Kevin Bethea
    Real Estate License ID: 450832
    (850) 244-9195 (850) 244-9117 (850) 585-7277
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!