Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Eglin Parkway Commercial Development Opportunity Title is generated by Realmo AI

    843 Eglin Pkwy, Fort Walton Beach, FL 32547

    View on Map
    Claim this Listing
    For Sale
    $1,299,000

    Prime 1.18-acre commercial land near Eglin Air Force Base.

    Type:Land
    Property size:
    1 SF
    Price / SF:
    $1,299,000/SF
    Added:
    Nov 21, 2025
    Days on Market:
    194
    Last Refresh:
    May 8 at 8:10 pm

    Property Features for 843 Eglin Pkwy

    General Information

    Standard status
    Active
    Size
    1 SF
    Property subtype
    Land

    We can help!

    Listing Contact
    Harry Bell Jr.
    Harry Bell Jr.

    Listing agent Harry Bell Jr. License #AL #000078384-1

    Listing office Bellcore Commercial LLC

    Listing date Nov 21, 2025

    Source Bellcorecommercial

    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 Bellcore Commercial LLC

    HighLights

    • High‑traffic location on Eglin Parkway with 46,500 AADT, providing excellent visibility.
    • Zoned Mixed Use (MU), offering versatile development options.
    • Proximity to Eglin Air Force Base (4‑minute drive).
    • Located adjacent to TownePlace Suites by Marriott.
    • Situated in a growing area with new projects and infrastructure improvements.
    • Rare waterfront restaurant development site with Choctawhatchee Bay frontage.

    Overview

    This commercial land offers approximately 1.18 acres with 78 feet of frontage on Eglin Parkway. The property benefits from a location along Eglin Parkway, which experiences a traffic count of 46,500 AADT. Situated adjacent to the TownePlace Suites by Marriott, the property is zoned Mixed Use (MU), providing a versatile foundation for various potential uses. It is located a short 4-minute drive from Eglin Air Force Base (EAFB). Eglin Air Force Base employs 4,500 active-duty members and 8,500 civilians. The property is located in Fort Walton Beach, between Pensacola and Panama City. The area is characterized by military personnel from Eglin Air Force Base and Hurlburt Field. Hurlburt Field has 10,782 active-duty military personnel and 1,316 civilian employees. New projects and infrastructure improvements within the Fort Walton Beach MSA have drawn private development to the city. This location is one mile from the Eglin Air Force Base and has Choctawhatchee Bay frontage.
    Property Profile Location Intelligence

    Current Use by Public Records

    TownePlace Suites Fort ... Hotel & Motel 843 Eglin Parkway ... Parking Lot & Garage

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Walton Beach
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.5937
    Latitude
    30.4406

    Nearby Similar for Sale

    • $115,000

      Mixed-Use Development Lot with Plans

      Vacant lot zoned commercial and residential, with ready-to-build approved plans for a 3-bedroom home included.
      1 SE Birch Street, Fort Walton Beach, FL 32548
      View Details
    • $713,592
      3,322 SF

      Fully Occupied Multi-Family Investment

      Income-producing multi-family property with development potential in Fort Walton Beach.
      816 Lark Street, Fort Walton Beach, FL 32547
      View Details
    • $586,405
      2,750 SF

      Fully Occupied Multi-Family Investment

      Income-producing multi-family property with development potential near Eglin AFB.
      818 Lark Street, Fort Walton Beach, FL 32547
      View Details
    • $649,000

      Prime Island Living Corner Lot

      Rare opportunity to build your dream home near the Gulf.
      834 Tarpon Drive, Fort Walton Beach, FL 32548
      View Details
    • $670,000
      4,058 SF

      Medical Office Space For Sale

      Medical office space with lease income until September 2027.
      914B Marwalt Drive, Fort Walton Beach, FL 32547
      View Details
    • $549,900
      1,800 SF

      High-Visibility Commercial Office Duplex

      1,800 SF commercial property with high visibility and flexibility.
      58 Beal Parkway, Fort Walton Beach, FL 32548
      View Details
    • $2,696,335

      NNN Leased Investment Property

      NNN leased investment property with a strong tenant and location.
      123 Hollywood Blvd NE, Fort Walton Beach, FL 32548
      View Details
    • $2,450,000
      7,500 SF

      Fort Walton Beach Retail Opportunity

      7,500 SF retail property in downtown Fort Walton Beach.
      150 SE Hollywood Boulevard, Fort Walton Beach, FL 32548
      View Details
    • $550,000
      4,000 SF

      Fort Walton Beach Warehouse

      4,000 sqft warehouse with remodeled office space for sale.
      801 South Drive, Fort Walton Beach, FL 32547
      View Details
    • $324,900
      1,159 SF

      Remodeled Commercial Property with Flexible Zoning

      Versatile commercial property in Fort Walton Beach with live/work potential.
      31 NE Kelly Avenue, Fort Walton Beach, FL 32548
      View Details
    • $397,000
      2,550 SF

      Four-Plex in Prime Location

      Four-unit property with renovation potential near downtown Fort Walton Beach.
      125 Beal Parkway, Fort Walton Beach, FL 32548
      View Details
    • $3,250,000
      13,513 SF

      Fort Walton Beach Legacy Property

      2.76-acre assemblage with buildings, ideal for owner-user or redevelopment.
      20 NE Hollywood Boulevard, Fort Walton Beach, FL 32548
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime 1.18-acre commercial land near Eglin Air Force Base.
    Where is this commercial land located?
    The property is located at 843 Eglin Pkwy Fort Walton Beach, FL.
    What is the asking price?
    The asking price for this property is $1,299,000.
    What are key features of this property?
    This property features: High‑traffic location on Eglin Parkway with 46,500 AADT, providing excellent visibility.; Zoned Mixed Use (MU), offering versatile development options.; Proximity to Eglin Air Force Base (4‑minute drive).
    (850) 240-0527
    We can help!
    Listing Contact
    Harry Bell Jr.
    Harry Bell Jr.
    Real Estate License ID: AL #000078384-1
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    843 Eglin Pkwy, Fort Walton Beach, FL 32547
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!