Duplex with Brick
For Sale
$450,000
510 NW Parkview Road A & B, Fort Walton Beach, FL 32547
Two occupied residences provide matching two-bedroom, two-bath layouts and long-term leases.
Property Size2,356 SF
Price / SF$191
Days on Market59
Property Features for 510 NW Parkview Road A & B
General Information
Standard status
Active
Size
2,356 SF
Property subtype
Duplex - All Units
Occupancy
100%
Financials
Cap Rate
8.5%
Average Monthly Rent
$1,600
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,527
Building Details
Building Size
2,356 SF
Year Built
1983
Buildings
1
Tenancy
Multi
Listing Agency:
LPT Realty LLC
Listed By:
Ryan J Garofalo · License #3524720
(850) 240-8852
Source:
Luckypalmsrealty
Added: Sep 2
Changed: Oct 29
Last Checked: Oct 29 at 2:50PM
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 LPT Realty LLC
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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.
Built in 1983, this 2,356-square-foot duplex contains two residences, each with two bedrooms, two full bathrooms, a brick wood-burning fireplace, and an updated kitchen. Both units are occupied under long-term leases, with renewals scheduled for spring 2027. A roof replacement is scheduled for September 2026.
The property is in Fort Walton Beach, near shopping, dining, schools, military installations, entertainment, and Emerald Coast beaches. The reported gross cap rate is 8.5%.
The property is in Fort Walton Beach, near shopping, dining, schools, military installations, entertainment, and Emerald Coast beaches. The reported gross cap rate is 8.5%.
Key Highlights
- Two residences, each with 2 bedrooms and 2 bathrooms
- 2,356 square feet; built in 1983
- Both units occupied under long‑term leases renewing 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
999
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 - Two occupied residences provide matching two-bedroom, two-bath layouts and long-term leases.
Where is this duplex located?
The property is located at 510 NW Parkview Road 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 residences, each with 2 bedrooms and 2 bathrooms; 2,356 square feet; built in 1983; Both units occupied under long‑term leases renewing spring 2027
