Commercial Real Estate Market in Shalimar, FL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
60 active listings and 126 off-market properties in Shalimar, FL. Commercial property asks $286/SF to buy and $15.31/SF/Yr to lease.
Market Trends
Shalimar, FL spans 3.5 square miles in Okaloosa County, Florida. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Shalimar, FL runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Shalimar, FL runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Shalimar, FL runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in Shalimar, FL runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 49.9%
- Civic 49.1%
- Planned_development 0.7%
- Mixed use 0.4%
Largest Zones share of zoned land by district
Residential Single Family
Commercial
Public Lands
Residential Multi Family
Residential Single Family
Residential Single Family (R1)
A. R-1 - Residential Single-family Low Density Zoning District The low density residential zoning district is established to provide for single-family homes in traditional residential neighborhoods. The R-1 zoning district is limited to single-family homes with accessory uses and structures customarily associated with residential development. Accessory dwell…
Market overview
Demographics & Economy
Shalimar, FL has 10,444 residents in 5,130 households. Density runs 2,995 people per square mile. Median household income here is $98,014 and median gross rent $1,582 a month.
10,444
Population
5,130
Households
2
Avg Household Size
46
Median Age
48%
College-Educated
95%
High-School Grad
3.5 sq mi
ZIP Area
2,995
Density / Sq Mi
$98,014
Median Household Income
$46,926
Median Earnings
$1,582
Median Rent
$430,400
Median Home Value
Tools
Lease vs Buy Breakeven
At $15.31/SF/Yr lease vs $286/SF buy → buying wins if held > 7.8 years.
At a 5.4% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Eglin | — | — |
| Fort Walton Beach | — | $12.10 |
| Mary Esther | — | $18.03 |
| Valparaiso | — | $31.36 |
Commercial property in Shalimar, FL asks $286/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Shalimar?
Commercial property in Shalimar, FL asks an average of $286 per square foot. The 5 most recent recorded sales traded at a median of $514/SF.
How much does it cost to lease commercial space in Shalimar?
Asking lease rates in Shalimar, FL average $15.31 per square foot per year.
Is it cheaper to lease or buy commercial space in Shalimar?
Buying beats leasing in Shalimar, FL if the property is held longer than 7.8 years, comparing $15.31/SF/Yr asking rent with $286/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Shalimar market data come from?
Realmo compiles Shalimar, FL figures from 6 recent recorded sales, 27 active sale listings, 33 active lease listings, 126 tracked off-market properties, the current Shalimar zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 27 active for-sale and 33 active for-lease listings in Shalimar, FL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 177 zoned acres across 7 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
