Freestanding Commercial Building For
For Sale
$1,385,000
507 NW Mary Esther Cut Off, Fort Walton Beach, FL 32548
3,760 SF commercial building with high visibility and versatility.
Property Size3,760 SF
Price / SF$368.35
Days on Market207
Property Features for 507 NW Mary Esther Cut Off
General Information
Standard status
Active
Size
3,760 SF
Class
Industrial, Income Producing, Retail
Zoning
Mixed Use
Listed By:
Brian and Mel Marshall
(850) 852-7653
Source:
Stagerightgroup.idxbroker
Added: Mar 27
Changed: Oct 9
Last Checked: Oct 19 at 3:28AM
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 Brian and Mel Marshall
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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 3,760 square foot freestanding commercial building is positioned along Mary Esther Cutoff, offering visibility and access. The site is located just east of a lighted intersection, capturing daily traffic. It is suitable for retail, showroom, medical, professional office, or service-based operations. The property also comes with a full liquor license with no restrictions.
Key Highlights
- High‑visibility location on heavily traveled Mary Esther Cutoff.
- Versatile 3,760 SF freestanding commercial building suitable for various uses.
- Full liquor license with no restrictions included.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,048
Cap Rate
3.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,080,960
$1.1M
Cap Rate 7%
$772,114
$772.1K
Cap Rate 9%
$600,533
$600.5K
Market Conditions
NOI Build-Up for 3,760 SF
Gross rent
$83.5K $22.20/SF
− Vacancy
−$6.3K −$1.67/SF
EGI
$77.2K $20.54/SF
− OpEx
−$23.2K −$6.16/SF
NOI
$54.0K $14.37/SF
Area
Okaloosa County, FL
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,080,960
Cap Rate 7%
$772,114
Cap Rate 9%
$600,533
Alternative Uses
Best Use
Retail
$772.1K
$675.6K – $900.8K
NOI $54,048 @ 7.0% cap · market cap 3.90%
Second Best
Office B
$693.7K
$607.0K – $809.3K
NOI $48,560 @ 7.0% cap · market cap 3.51%
Theoretical Best
Specialty Retail
$1.45M
$1.27M – $1.69M
NOI $101,429 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Retail space - 3,760 SF commercial building with high visibility and versatility.
Where is this retail space located?
The property is located at 507 NW Mary Esther Cut Off Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $1,385,000.
What are key features of this property?
This property features: High‑visibility location on heavily traveled Mary Esther Cutoff.; Versatile 3,760 SF freestanding commercial building suitable for various uses.; Full liquor license with no restrictions included.**
