Industrial Park Flex/Warehouse
658 Lovejoy Rd NW Fort Walton Beach, FL 32548
658 Lovejoy Rd NW, Fort Walton Beach, FL, 32548
Contact for pricing
For Sale
Contact for pricing
Pending
Income-producing flex/warehouse space in Fort Walton Beach industrial park.
Property Size20,751 SF
Lot Size1.00 Acre
Days on Market1373
Property Features for 658 Lovejoy Rd NW
General Information
- Standard status
- Pending
- Size
- 20,751 SF
- Lot size
- 1.00 Acre
- Property subtype
- Industrial
Listing Agency
OXANASOL COMMERCIAL REAL ESTATE
(850) 797-5277
Listed by
Oxana Solovieva · License #FL 3271180
Source
Crexi
Added: Oct 15, 2022 Checked: Jul 17 at 11:18 am
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 OXANASOL COMMERCIAL REAL ESTATE
Investment Insights
Based on property information with market context.
This income-producing property is located in the industrial park of Fort Walton Beach. The property features office and flex/warehouse space and is currently fully occupied. The current rents are below market value, presenting potential for increases. Rent rolls are available upon request. The current cap rate is approximately 7%. Two parcels are included in the sale, totaling 20,751 square feet of building space on a 1-acre lot. This property is suitable for commercial real estate, flex space, industrial, warehouse, and office use.
Key Highlights
- Great Income Producing Property: Currently fully occupied, providing immediate income.
- High Potential for Rent Increases: Current rents are below market value, offering significant upside.
- ~7% Cap Rate: Demonstrates a strong return on investment.
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $161.9k | $7.80 |
| − Vacancy | −$8.4k | −$0.41 |
| EGI | $153.4k | $7.39 |
| − OpEx | −$46.0k | −$2.22 |
| NOI | $107.4k | $5.18 |
20,751 SF · lease $7.80/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Flex RnD
$3.26M
$2.85M – $3.80M
NOI $228,219 @ 7.0% cap · market cap 15.47%
Second Best
Warehouse
$2.01M
$1.76M – $2.35M
NOI $141,050 @ 7.0% cap · market cap 9.56%
Theoretical Best
Specialty Retail
$8.00M
$7.00M – $9.33M
NOI $559,773 @ 7.0% cap · market cap 37.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Odd Jobs Willie
Hardware & Home Improvement
South Eastern Audio ...
Electronics & Wireless Store
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Income-producing flex/warehouse space in Fort Walton Beach industrial park.
Where is this flex space located?
The property is located at 658 Lovejoy Rd NW Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Great Income Producing Property: Currently fully occupied, providing immediate income.; High Potential for Rent Increases: Current rents are below market value, offering significant upside.; ~7% Cap Rate: Demonstrates a strong return on investment.
