Flex Building with Outdoor
New
For Sale
$2,800,000
702 NW Anchors Street, Fort Walton Beach, FL 32548
Commercial for Sale, Fort Walton Beach, FL
Property Size11,820 SF
Lot Size3.44 Acres
Price / SF$236.89
Days on Market2
Property Features for 702 NW Anchors Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CTP
Directions
Take US-98 west through Destin, cross the bridge onto Okaloosa Island, and cross the Brooks Bridge into Fort Walton Beach. Continue west on US-98 to Mary Esther Cut-Off NW and turn north. Anchors St NW is a left turn off Mary Esther Cut-Off, and building is about half a mile in on the left.
Subdivision
12 - Fort Walton Beach
Standard status
Active
APN
08-2S-24-0000-0002-0050
Lot size
3.44 Acres
Taxes and HOA fees
Tax Description
Com Se Cor N 87 Deg W 79.96 Ft To Pob N 87 Deg W 218.87 Ft N 219.68 Ft N 87 Deg W 110 Ft N 310.13 Ft S 87 Deg E 328.87 Ft S 529.81 Ft To Pob
Legal Description
Com Se Cor N 87 Deg W 79.96 Ft To Pob N 87 Deg W 218.87 Ft N 219.68 Ft N 87 Deg W 110 Ft N 310.13 Ft S 87 Deg E 328.87 Ft S 529.81 Ft To Pob
Building Details
Buildings
1
Listing Agency:
NBI Properties Inc
(850) 243-0007
Listed By:
Dustin Parkman · License #3307056
(850) 218-8408
Added: Nov 2
Last Checked: Nov 3 at 11:06AM
MLS# 1014711
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.
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Investment Insights
Based on property information with market context.
This 11,820-square-foot flex property on 3.44 acres combines 8,700 square feet of warehouse area with 3,120 square feet of office and showroom space. The warehouse has a 20-foot ceiling and 18 feet of clear height. Door access includes a 12' x 14' rear opening, three 16' x 17' roll-up doors, and a 12' x 10' roll-up door. An outdoor yard and storage area provides additional space for equipment, vehicles, or inventory.
Located at 702 NW Anchors Street in Fort Walton Beach, the property is close to U.S. 98 and SR 189. Hurlburt Field and Eglin Air Force Base are described as minutes away, with Destin and 30A identified as feeder markets. The property is zoned CTP.
Located at 702 NW Anchors Street in Fort Walton Beach, the property is close to U.S. 98 and SR 189. Hurlburt Field and Eglin Air Force Base are described as minutes away, with Destin and 30A identified as feeder markets. The property is zoned CTP.
Key Highlights
- 11,820 square feet on 3.44 acres
- Warehouse area totals 8,700 square feet; office and showroom space totals 3,120 square feet
- Warehouse ceiling height is 20 feet, with 18 feet of clear height
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$129,996
Cap Rate
4.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,599,920
$2.6M
Cap Rate 7%
$1,857,086
$1.9M
Cap Rate 9%
$1,444,400
$1.4M
Market Conditions
NOI Build-Up for 11,820 SF
Gross rent
$212.8K $18.00/SF
− Vacancy
−$12.8K −$1.08/SF
EGI
$200.0K $16.92/SF
− OpEx
−$70.0K −$5.92/SF
NOI
$130.0K $11.00/SF
Area
Okaloosa County, FL
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,599,920
Cap Rate 7%
$1,857,086
Cap Rate 9%
$1,444,400
Alternative Uses
Best Use
Flex RnD
$1.86M
$1.62M – $2.17M
NOI $129,996 @ 7.0% cap · market cap 4.64%
Second Best
Warehouse
$1.15M
$1.00M – $1.34M
NOI $80,344 @ 7.0% cap · market cap 2.87%
Theoretical Best
Specialty Retail
$4.56M
$3.99M – $5.31M
NOI $318,853 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
18 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
597
Businesses Nearby
Under-served
Demand for This Use
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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
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Office and showroom areas sit alongside warehouse space, with additional outdoor room for storage.
Where is this flex space located?
The property is located at 702 NW Anchors Street Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 11,820 square feet on 3.44 acres; Warehouse area totals 8,700 square feet; office and showroom space totals 3,120 square feet; Warehouse ceiling height is 20 feet, with 18 feet of clear height
