Merchants Walk Investment
4400 East Highway 20, Niceville, FL 32578
Call to check price and availability
Turnkey commercial property with immediate cash flow potential in Niceville.
Type:OFFICE
Property size:
7,500 SFPrice / SF:
$228/SF- Added:
- May 4, 2026
- Days on Market:
- 23
- Last Refresh:
- May 8 at 3:32 am
Property Features for 4400 East Highway 20
General Information
- Standard status
- Active
- Size
- 7,500 SF
- Property subtype
- OFFICE
Listing agent Minh Quoc Tran
Listing office MQC Investments LLC (850) 292-5818
Listing date May 4, 2026
Source Moodyscre
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 MQC Investments LLC
HighLights
- Immediate cash flow from day one with 9 of 10 suites currently leased.
- Prime location in Bluewater Bay with strong visibility and easy access.
- Turnkey asset ideal for investors seeking stability with upside potential.
- Monument signage on Highway 20, including seven lower panels and an electronic scrolling sign, conveys at closing for excellent tenant exposure.
- Roof with approximately 15 years of remaining warranty.
- Located in the fully developed Bluewater Bay area, offering long‑term stability.
Overview
This investment opportunity is located in Merchants Walk, part of Bluewater Bay east of Niceville. Merchants Walk is a Homeowners Association, and nine of the ten suites are currently leased, with the tenth suite actively being negotiated. This property offers a location with visibility, access, and tenant demand in an established market, making it a turnkey asset for investors. The Bluewater Bay area is fully developed, offering stability and limited future competition. The monument signage located on Highway 20 is owned by the Merchants Walk Property Association; however, the additional value to a buyer includes seven lower panels and the electronic scrolling sign, all of which convey at closing and provide tenant exposure. The property also features a roof with approximately 15 years of remaining warranty and is surrounded by established businesses and ongoing area development, creating an income-producing asset in a high-demand corridor. The property size is 7500 square feet.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.08M
NOI $96,863 @ 9.00% cap · cautious / downside scenario
Moderate
$1.38M
NOI $96,863 @ 7.00% cap · market / base-case scenario
Aggressive
$1.94M
NOI $96,863 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $157.5k | $21.00 |
| − Vacancy | −$28.4k | −$3.78 |
| EGI | $129.2k | $17.22 |
| − OpEx | −$32.3k | −$4.31 |
| NOI | $96.9k | $12.92 |
7,500 SF · lease $21.00/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$1.38M
$1.21M – $1.61M
NOI $96,863 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.89M
$2.53M – $3.37M
NOI $202,318 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Anthony LaNasa
Pediatrician
Location Insight
- Map
- Local Demand
- City
- Niceville
- County
- Okaloosa
- State
- Florida
- Longitude
- -86.348313
- Latitude
- 30.467972
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Turnkey commercial property with immediate cash flow potential in Niceville.
Where is this office building located?
The property is located at 4400 East Highway 20 Niceville, FL.
What is the asking price?
The asking price for this property is $1,715,000.
What are key features of this property?
This property features: Immediate cash flow from day one with 9 of 10 suites currently leased.; Prime location in Bluewater Bay with strong visibility and easy access.; Turnkey asset ideal for investors seeking stability with upside potential.
