Duplex with Wood-Burning
For Sale
$450,000
510 NW Parkview Rd #A & B, Fort Walton Beach, FL 32547
Occupied two-bedroom residences feature updated kitchens, private bedrooms, and separate wood-burning fireplaces.
Property Size2,356 SF
Price / SF$191
Days on Market55
Property Features for 510 NW Parkview Rd #A & B
General Information
Standard status
Active
Size
2,356 SF
Property subtype
Multi-Family
Occupancy
100%
Financials
Cap Rate
8.5%
Average Monthly Rent
$1,600
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Building Details
Year Built
1983
Tenancy
Multi
Listing Agency:
Exp Realty LLC
Listed By:
Hiller Group · License #no data
(850) 582-7653
Source:
Markhillersells
Added: Sep 4
Changed: Oct 27
Last Checked: Oct 28 at 8:12AM
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 Exp Realty LLC
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Investment Insights
Based on property information with market context.
This 2,356-square-foot duplex, built in 1983, contains two separate residences under one roof. Each unit provides two bedrooms, two full bathrooms, a private bedroom layout, updated kitchen, spacious living area, and a wood-burning brick fireplace. Both residences are currently occupied under long-term leases renewing in Spring 2027.
The property is located at 510 NW Parkview Rd in Fort Walton Beach, near shopping, dining, schools, military installations, entertainment, and Emerald Coast beaches. A new roof is scheduled for installation in Sept. 2026. The property carries an 8.5% gross cap rate and offers a two-unit residential configuration in Northwest Florida.
The property is located at 510 NW Parkview Rd in Fort Walton Beach, near shopping, dining, schools, military installations, entertainment, and Emerald Coast beaches. A new roof is scheduled for installation in Sept. 2026. The property carries an 8.5% gross cap rate and offers a two-unit residential configuration in Northwest Florida.
Key Highlights
- Two‑unit duplex totaling 2,356 SF
- Each residence includes 2 bedrooms and 2 full bathrooms
- Both units currently occupied with leases renewing in Spring 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,118
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$542,360
$542.4K
Cap Rate 7%
$387,400
$387.4K
Cap Rate 9%
$301,311
$301.3K
Market Conditions
NOI Build-Up for 2,356 SF
Gross rent
$41.0K $17.40/SF
− Vacancy
−$2.3K −$0.96/SF
EGI
$38.7K $16.44/SF
− OpEx
−$11.6K −$4.93/SF
NOI
$27.1K $11.51/SF
Area
Okaloosa County, FL
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$542,360
Cap Rate 7%
$387,400
Cap Rate 9%
$301,311
Alternative Uses
Best Use
Multifamily LT 5
$387.4K
$339.0K – $452.0K
NOI $27,118 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$348.2K
$304.7K – $406.2K
NOI $24,374 @ 7.0% cap · market cap 5.42%
Theoretical Best
Specialty Retail
$907.9K
$794.4K – $1.06M
NOI $63,555 @ 7.0% cap · market cap 14.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,294
Businesses Nearby
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Occupied two-bedroom residences feature updated kitchens, private bedrooms, and separate wood-burning fireplaces.
Where is this duplex located?
The property is located at 510 NW Parkview Rd #A & B Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,356 SF; Each residence includes 2 bedrooms and 2 full bathrooms; Both units currently occupied with leases renewing in Spring 2027
