Medical Office Space For
914B Marwalt Drive, Fort Walton Beach, FL 32547
Medical office space with lease income until September 2027.
Type:Commercial
Property size:
4,058 SFPrice / SF:
$165/SF- Added:
- Apr 13, 2026
- Days on Market:
- 49
- Last Refresh:
- Apr 14 at 7:13 am
Property Features for 914B Marwalt Drive
General Information
- Standard status
- Active
- Size
- 4,058 SF
- Property subtype
- Commercial
Listing agent JAN N HOOKS License #679574
Listing office JAN HOOKS REAL ESTATE GROUP INC (850) 585-2677
Listing date Apr 13, 2026
Source Corcoran
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 JAN HOOKS REAL ESTATE GROUP INC
HighLights
- New roof replaced in 2024 for both units.
- Vacant unit featuring 4 exam rooms, 3 bathrooms, nurses station, office, waiting room, reception area and storage room.
- One unit is currently leased until September 2027, providing immediate income.
- HVAC replaced in 2019 and hot water heater replaced in 2024 in the vacant unit.
- Total of 3702 sq ft on the first floor and 356 sq ft on the second floor.
- 34 parking spaces available.
Overview
The property at 914 B has a total of 3702 square feet on the first floor and 356 square feet on the second floor, with approximately 1850 square feet in each unit. One vacant unit features 4 exam rooms, 3 bathrooms, a nurses station, an office, a waiting room, a reception area, and a storage room. The HVAC system for this unit was replaced in 2019, and the hot water heater was replaced in 2024. A new roof was installed in 2024 for both units. The other unit is currently leased until September 2027 and includes 3 bathrooms, a reception area, a break room, an office, a waiting area, 4 rooms, and storage. Its HVAC system dates to 2006, and the hot water heater is scheduled for replacement in 2025. The property includes 34 parking spaces shared with the complex on a first-come, first-served basis.
Local Financial Insights For Office B
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 | $85.2k | $21.00 |
| − Vacancy | −$15.3k | −$3.78 |
| EGI | $69.9k | $17.22 |
| − OpEx | −$17.5k | −$4.31 |
| NOI | $52.4k | $12.92 |
4,058 SF · lease $21.00/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$748.7K
$655.1K – $873.5K
NOI $52,409 @ 7.0% cap · market cap 7.82%
Second Best
Healthcare Medical
$653.7K
$572.0K – $762.7K
NOI $45,762 @ 7.0% cap · market cap 6.83%
Theoretical Best
Specialty Retail
$1.56M
$1.37M – $1.82M
NOI $109,467 @ 7.0% cap · market cap 16.34%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
James Katie
Physician
Location Insight
- Map
- Local Demand
- City
- Fort Walton Beach
- County
- Okaloosa
- State
- Florida
- Longitude
- -86.6325628
- Latitude
- 30.4513873
Nearby Similar for Sale
FAQs
What type of property is this?
Medical Office Space - Medical office space with lease income until September 2027.
Where is this medical office space located?
The property is located at 914B Marwalt Drive Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: New roof replaced in 2024 for both units.; Vacant unit featuring 4 exam rooms, 3 bathrooms, nurses station, office, waiting room, reception area and storage room.; One unit is currently leased until September 2027, providing immediate income.
