Prime Commercial Building For
50 Eglin Pkwy Fort Walton Beach, FL 32548
50 Eglin Pkwy, Fort Walton Beach, FL, 32548
$1,300,000
For Sale
$1,300,000
2,776 SF building on 0.68 acres near Gulf.
Property Size2,776 SF
Lot Size0.68 Acres
Price / SF$468.30
Days on Market194
Property Features for 50 Eglin Pkwy
General Information
- Standard status
- Active
- Size
- 2,776 SF
- Lot size
- 0.68 Acres
- Property subtype
- Commercial
Listing Agency
REALTY HOUSE COMMERCIAL PROP
(850) 244-9117
Listed by
M KEVIN BETHEA · License #450832
Source
Corcoran
Added: Jan 8 Updated: Jul 6 at 10:30 am Checked: Jul 19 at 4:36 am
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 REALTY HOUSE COMMERCIAL PROP
Investment Insights
Based on property information with market context.
The property features a 2,776 square foot building situated on a 0.68-acre lot. The site benefits from 187 feet of street frontage. Originally constructed in 1960 as a McDonald's restaurant, the building is currently used as an optometrist's office. The owner intends to relocate the business to a smaller building. The property is located in close proximity to a new 7 Brews Coffee and across the street from established fast-food chains including McDonald's, Popeyes, Taco Bell, and Tijuana Flats. It is located within 1.5 miles of the Gulf and its beaches. The land area is suitable for drive-through restaurants, restaurants, medical office space, and general commercial real estate purposes.
Key Highlights
- Prime location next to 7 Brews Coffee and across from McDonalds, Popeyes, Taco Bell, and Tijuana Flats.
- Close proximity (1 1/2 miles) to the Gulf and white sandy beaches.
- Substantial land area of 0.68 acres with 187' of street frontage.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $102.9k | $37.08 |
| − Vacancy | −$3.1k | −$1.11 |
| EGI | $99.8k | $35.97 |
| − OpEx | −$25.0k | −$8.99 |
| NOI | $74.9k | $26.98 |
2,776 SF · lease $37.08/SF/yr · vacancy 3.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.07M
$936.1K – $1.25M
NOI $74,885 @ 7.0% cap · market cap 5.76%
Second Best
Office B
$512.2K
$448.2K – $597.5K
NOI $35,852 @ 7.0% cap · market cap 2.76%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Fort Walton Optical ...
Ophthalmologist
20 20 Optical ...
Physician
George D. Edlund, ...
Physician
Edmond George D ...
Physician
Travel World
Travel Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Drive through restaurant - 2,776 SF building on 0.68 acres near Gulf.
Where is this drive through restaurant located?
The property is located at 50 Eglin Pkwy Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Prime location next to 7 Brews Coffee and across from McDonalds, Popeyes, Taco Bell, and Tijuana Flats.; Close proximity (1 1/2 miles) to the Gulf and white sandy beaches.; Substantial land area of 0.68 acres with 187' of street frontage.
