Two-Unit Duplex Property with
For Sale
$450,000
510 Nw Parkview Rd Unit A & B, Fort Walton Beach, FL 32547
Occupied duplex with updated kitchens, private bedrooms, and two full bathrooms in each residence.
Property Size2,356 SF
Price / SF$191
Days on Market79
Property Features for 510 Nw Parkview Rd Unit A & B
General Information
Standard status
Active
Size
2,356 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,600
Amenities
wood-burning fireplace
Building Details
Year Built
1983
Buildings
1
Tenancy
Multi
Listing Agency:
LPT Realty LLC
Listed By:
Ryan J Garofalo · License #3524720
(850) 240-8852
Source:
J30a
Added: Aug 11
Changed: Oct 26
Last Checked: Oct 28 at 8:59AM
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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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 offers a two-bedroom, two-bathroom layout with living space, private bedrooms, an updated kitchen, and a wood-burning brick fireplace. Both units are occupied under long-term leases renewing in Spring 2027, and the property carries an 8.5% gross cap rate. A new roof is scheduled for installation in September 2026.
The property is located at 510 NW Parkview Rd in Fort Walton Beach, near shopping, dining, schools, military installations, entertainment, and Emerald Coast beaches. The adjacent sister property at 512 Parkview Rd is also available, providing an option to acquire another duplex at the neighboring address.
The property is located at 510 NW Parkview Rd in Fort Walton Beach, near shopping, dining, schools, military installations, entertainment, and Emerald Coast beaches. The adjacent sister property at 512 Parkview Rd is also available, providing an option to acquire another duplex at the neighboring address.
Key Highlights
- 2,356‑square‑foot duplex with two separate residences under one roof
- Each unit includes 2 bedrooms, 2 bathrooms, an updated kitchen, and a wood‑burning brick fireplace
- Both units are occupied under long‑term 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.
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Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
999
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Occupied duplex with updated kitchens, private bedrooms, and two full bathrooms in each residence.
Where is this duplex located?
The property is located at 510 Nw Parkview Rd Unit 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: 2,356‑square‑foot duplex with two separate residences under one roof; Each unit includes 2 bedrooms, 2 bathrooms, an updated kitchen, and a wood‑burning brick fireplace; Both units are occupied under long‑term leases renewing in Spring 2027
