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Medical Office Space For Sale

914B Marwalt Drive Fort Walton Beach, FL 32547

914B Marwalt Drive, Fort Walton Beach, FL, 32547

$670,000

For Sale

$670,000

Medical office space with lease income until September 2027.

Property Size4,058 SF

Price / SF$165.11

AddedApr 13

Days on Market95

Last RefreshJul 15 at 10:22 pm

Property Features for 914B Marwalt Drive

General Information

Standard status: Active
Size: 4,058 SF
Property subtype: Commercial

Listing office JAN HOOKS REAL ESTATE GROUP INC

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

Investment Insights

Based on property information with market context.

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.

Key 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.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

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 (±1% cap)

NOI $52,409 @ 7.0% cap · market cap 7.82%

Second Best

Healthcare Medical

$653.7K

$572.0K – $762.7K (±1% cap)

NOI $45,762 @ 7.0% cap · market cap 6.83%

Theoretical Best

Specialty Retail

$1.56M

$1.37M – $1.82M (±1% cap)

NOI $109,467 @ 7.0% cap · market cap 16.34%

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

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

James Katie Physician

Suggested Use

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For sale
Medical Office Space
FL
Fort Walton Beach
32547
914B Marwalt Drive

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.