Duplex with Updated
For Sale
$450,000
512 NW Parkview Rd #A & B, Fort Walton Beach, FL 32547
Two separate residences offer fireplaces, private bedrooms, and full bathrooms in each unit.
Property Size2,356 SF
Price / SF$191
Days on Market53
Property Features for 512 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
Amenities
wood burning fireplace
Building Details
Year Built
1985
Buildings
1
Tenancy
Multi
Listing Agency:
La Bella Vita Property Group LLC
Listed By:
Hiller Group · License #no data
(850) 582-7653
Source:
Markhillersells
Added: Sep 4
Changed: Oct 25
Last Checked: Oct 24 at 5:15PM
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 La Bella Vita Property Group LLC
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Investment Insights
Based on property information with market context.
This 2,356-square-foot duplex, built in 1985, contains two separate residences with matching two-bedroom, two-bathroom layouts. Each unit includes a living area, private bedrooms, a recently updated kitchen, and a brick wood-burning fireplace. A new roof was installed in 2025.
Both residences are occupied under long-term leases renewing in spring 2027. The property carries an 8.5% gross cap rate and is positioned near shopping, dining, schools, military installations, entertainment, and the Emerald Coast beaches in Fort Walton Beach.
Both residences are occupied under long-term leases renewing in spring 2027. The property carries an 8.5% gross cap rate and is positioned near shopping, dining, schools, military installations, entertainment, and the Emerald Coast beaches in Fort Walton Beach.
Key Highlights
- 2,356‑square‑foot duplex with two separate residences
- Each unit has 2 bedrooms and 2 bathrooms
- Both units 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.
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 - Two separate residences offer fireplaces, private bedrooms, and full bathrooms in each unit.
Where is this duplex located?
The property is located at 512 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: 2,356‑square‑foot duplex with two separate residences; Each unit has 2 bedrooms and 2 bathrooms; Both units occupied under long‑term leases renewing in spring 2027
