Office Duplex with Fenced
For Sale
$524,900
58 Beal Parkway, Fort Walton Beach, FL 32548
Commercial for Sale, Fort Walton Beach, FL
Property Size1,800 SF
Lot Size0.24 Acres
Price / SF$291.61
Days on Market182
Property Features for 58 Beal Parkway
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Hwy 98 - North on Beal - Property is on your left.at the corner of Beal and Holmes.
Subdivision
12 - Fort Walton Beach
Standard status
Active
APN
14-2S-24-0000-0004-0000
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
BEG NE COR SEC S 205 FT W 50 FT FOR BEG W 85 FT S 125 FT E 85 FT N 125 FT TO BEG
Legal Description
BEG NE COR SEC S 205 FT W 50 FT FOR BEG W 85 FT S 125 FT E 85 FT N 125 FT TO BEG
Amenities
two spacious reception areas
six private offices
utility room
break room
two restrooms
attached storage
separate storage shed
large fenced yard
Listing Agency:
Eglin Realty Inc
(850) 314-9618
Listed By:
Judy Couto · License #702519
(850) 240-9618
Added: Mar 16
Changed: Sep 11
Last Checked: Sep 13 at 9:06AM
MLS# 998257
Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,800-square-foot office building is configured as a duplex, with two reception areas, six private offices, a utility room, break room, and two restrooms. Each side can function independently, while a connecting door allows the spaces to operate together. Attached storage, a separate shed, and a fenced yard add functional support space. The roof was replaced in 2021.
The property has access from Beal Parkway and includes a parking area along the side facing Holmes Boulevard. Its layout accommodates professional office operations and can also support retail use as described in the property information. The 0.24-acre site provides additional outdoor area for storage or property operations.
The property has access from Beal Parkway and includes a parking area along the side facing Holmes Boulevard. Its layout accommodates professional office operations and can also support retail use as described in the property information. The 0.24-acre site provides additional outdoor area for storage or property operations.
Key Highlights
- 1,800 SF office duplex with two reception areas and six private offices
- Separate sides can operate independently or connect into one larger workspace
- Roof replaced in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,247
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$464,940
$464.9K
Cap Rate 7%
$332,100
$332.1K
Cap Rate 9%
$258,300
$258.3K
Market Conditions
NOI Build-Up for 1,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.8K $21.00/SF
− Vacancy
−$6.8K −$3.78/SF
EGI
$31.0K $17.22/SF
− OpEx
−$7.7K −$4.31/SF
NOI
$23.2K $12.92/SF
Area
Okaloosa County, FL
Vacancy
18.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$464,940
Cap Rate 7%
$332,100
Cap Rate 9%
$258,300
Alternative Uses
Best Use
Office B
$332.1K
$290.6K – $387.5K
NOI $23,247 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$693.7K
$607.0K – $809.3K
NOI $48,556 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,300
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
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Frequently Asked Questions
What type of property is this?
Office building - Flexible layout supports separate suites or a combined professional workspace.
Where is this office building located?
The property is located at 58 Beal Parkway Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: 1,800 SF office duplex with two reception areas and six private offices; Separate sides can operate independently or connect into one larger workspace; Roof replaced in 2021
