Freestanding Flex Space with
For Sale
$750,000
Pending
431 NW Racetrack Road, Fort Walton Beach, FL 32547
Commercial for Sale, Fort Walton Beach, FL
Property Size5,500 SF
Lot Size0.36 Acres
Days on Market147
Property Features for 431 NW Racetrack Road
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Located on the southside of Racetrack Road adjacent to Stewby's.
Subdivision
12 - Fort Walton Beach
Standard status
Pending
APN
03-2S-24-0000-0039-0000
Lot size
0.36 Acres
Taxes and HOA fees
Tax Description
Com Int Of E Line Of Beal St And N Sec Line Thc S Alg Line Of Beal St 865Ft Thc Left 90 Deg 1200Ft Thc Left 90Deg 865Ft Thc Left 90Deg 130Ft To Pob Cont 100Ft Thc Left 90Deg 194Ft Thc Left 90Deg 100Ft Thc Left 90Deg 194Ft To Pob Less Nly Part For R/W
Legal Description
Com Int Of E Line Of Beal St And N Sec Line Thc S Alg Line Of Beal St 865Ft Thc Left 90 Deg 1200Ft Thc Left 90Deg 865Ft Thc Left 90Deg 130Ft To Pob Cont 100Ft Thc Left 90Deg 194Ft Thc Left 90Deg 100Ft Thc Left 90Deg 194Ft To Pob Less Nly Part For R/W
Listing Agency:
Taylor Allen Properties LLC
(850) 259-2894
Listed By:
Brett D Stuart · License #678851
(850) 865-9123
Added: Jun 4
Changed: Oct 8
Last Checked: Oct 28 at 8:06AM
MLS# 1004735
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.
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Investment Insights
Based on property information with market context.
This freestanding flex property is occupied by Wesco Gas and offers a combination of customer-facing, administrative, warehouse, and exterior storage areas. The interior includes an approximately 2,500 SF showroom and office area with a glass storefront, open display area, new LVP flooring, several offices, a kitchen or break area, and 2 restrooms. A separate rear warehouse measures approximately 3,000 SF and includes two roll-up doors.
The property sits along Racetrack Road in Fort Walton Beach, FL, with parking configured to accommodate large trucks and trailers. A fenced rear lot provides additional outdoor storage space. The layout supports a range of commercial operations requiring showroom or office functions alongside warehouse and yard capacity.
The property sits along Racetrack Road in Fort Walton Beach, FL, with parking configured to accommodate large trucks and trailers. A fenced rear lot provides additional outdoor storage space. The layout supports a range of commercial operations requiring showroom or office functions alongside warehouse and yard capacity.
Key Highlights
- Approximately 2,500 SF showroom and office area
- Approximately 3,000 SF rear warehouse with two roll‑up doors
- Fenced rear lot for outdoor storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,489
Cap Rate
8.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,209,780
$1.2M
Cap Rate 7%
$864,129
$864.1K
Cap Rate 9%
$672,100
$672.1K
Market Conditions
NOI Build-Up for 5,500 SF
Gross rent
$99.0K $18.00/SF
− Vacancy
−$5.9K −$1.08/SF
EGI
$93.1K $16.92/SF
− OpEx
−$32.6K −$5.92/SF
NOI
$60.5K $11.00/SF
Area
Okaloosa County, FL
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,209,780
Cap Rate 7%
$864,129
Cap Rate 9%
$672,100
Alternative Uses
Best Use
Retail
$1.13M
$988.3K – $1.32M
NOI $79,060 @ 7.0% cap · market cap 10.54%
Second Best
Flex RnD
$864.1K
$756.1K – $1.01M
NOI $60,489 @ 7.0% cap · market cap 8.07%
Theoretical Best
Specialty Retail
$2.12M
$1.85M – $2.47M
NOI $148,366 @ 7.0% cap · market cap 19.78%
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
Single-tenant
Tenancy
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,287
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32547, FL
35,466
Population
16,112
Households
2.2
Avg Household Size
37
Median Age
28%
College-Educated
89%
High-School Grad
29.0 sq mi
ZIP Area
1,223
Density / Sq Mi
$67,822
Median Household Income
$36,465
Median Earnings
$1,421
Median Rent
$299,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding commercial space combines showroom, offices, warehouse capacity, and secured outdoor storage.
Where is this flex space located?
The property is located at 431 NW Racetrack Road Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Approximately 2,500 SF showroom and office area; Approximately 3,000 SF rear warehouse with two roll‑up doors; Fenced rear lot for outdoor storage
