Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    124 Mary Esther Dr Mary Esther, FL 32569

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    124 Mary Esther Dr Mary Esther, FL 32569

    View on Map
    • Office properties & Spaces
    • 25,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 124 Mary Esther Dr

    Property size
    25,000 SF
    Property type
    Office properties & Spaces

    Description

    This exceptional 25,000 square foot executive office complex is strategically located at 124 Hwy 98 in Mary Esther, Florida, 32569. Situated between Hurlburt Field Air Force Base and the Mary Esther Cutoff, this property enjoys high visibility and convenient access for employees and clients. The building comprises sixteen individual office units, currently occupied by a diverse mix of tenants including defense contractors, medical professionals, and other businesses. This presents a stable and attractive investment opportunity with a proven track record of occupancy. The asking price for this turnkey operation is $4,300,000. The property's location in Okaloosa County, Florida, offers a thriving business environment and a strong local economy. This is an ideal acquisition for investors seeking a well-established, income-producing asset in a prime location with a diverse tenant base. The building's size and layout provide flexibility for future expansion or adaptation to changing market demands. The property's strong tenant mix and strategic location make it a compelling investment opportunity with significant potential for long-term growth and return. Detailed financial information and tenant occupancy details are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mary Esther
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.6632
    Latitude
    30.4101

    Comparable in this City

    • Value Estimation by Request
      24,820 SF

      634 Anchors St

      Office properties & Spaces • 24,820 SF
      634 Anchors St, Navarre, FL 32569
      View Details
    • Value Estimation by Request
      2,263 SF

      124 201

      Office properties & Spaces • 2,263 SF
      124 201, Hurlburt Field, FL 32569
      View Details
    • Value Estimation by Request

      124 Cristobal Rd

      Medical Office Space
      124 Cristobal Rd, Mary Esther, FL 32569
      View Details
    • Value Estimation by Request
      1,256 SF

      151 Mary Esther Blvd Ste, Unit 101

      OFFICE BUILDING • 1,256 SF
      151 Mary Esther Blvd Ste, Mary Esther, FL 32569-1965
      View Details
    • Value Estimation by Request
      1,304 SF

      151 Mary Esther Blvd Ste, Unit 402

      OFFICE BUILDING • 1,304 SF
      151 Mary Esther Blvd Ste, Mary Esther, FL 32569-1975
      View Details
    • Value Estimation by Request
      1,300 SF

      151 Mary Esther Blvd Ste, Unit 408

      OFFICE BUILDING • 1,300 SF
      151 Mary Esther Blvd Ste, Mary Esther, FL 32569-1975
      View Details

    Similar Nearby for Sale

    • $4,300,000
      25,000 SF

      Prime Mary Esther Office Complex

      16 Units, 25,000 SF, High Occupancy
      124 Hwy 98, Mary Esther, FL 32569
      View Details
    • $145,000

      Boutique Office Space For Sale

      Boutique office space in the heart of Ft. Walton Beach.
      151 Mary Esther Blvd, Mary Esther, FL 32569
      View Details
    • $4,300,000
      87,120 SF

      Mary Esther Professional Office Complex

      16-unit office complex on Hwy 98 near Hurlburt AFB.
      124 Highway 98, Mary Esther, FL 32569
      View Details
    • Contact for pricing
      1,264 SF

      Renovated Office Space For Sale

      Boutique office space in Ft. Walton Beach/Mary Esther area.
      151 Mary Esther Blvd, Mary Esther, FL 32569
      View Details
    • Contact for pricing

      Land with Hotel Plans

      2.18 AC site with plans for extended stay hotel.
      205 Hollywood Blvd, Mary Esther, FL 32569
      View Details
    • New
      $134,999
      0.18 Acres

      Residential Lot in Cobia Bay

      Vacant lot with sound access in Mary Esther, Florida.
      227 Tecumseh Ln, Mary Esther, FL 32569
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      2,850 SF

      Prime Office Space, Fort Walton Beach

      Stunning Sound Views, 2850 SF Office
      348 Miracle Strip Pkwy SW, Fort Walton Beach, FL 32569
      View Details
    • $15 SF/Yr
      1,077 SF

      Prime Mary Esther Office Space

      1,077 SF Office Suite Available Now
      124 Hwy 98, Mary Esther, FL 32569
      View Details
    • $1,150 /Mo
      1,216 SF

      Renovated Office Space Available

      Boutique office space in a prime location for lease.
      151 Mary Esther Blvd, Mary Esther, FL 32569
      View Details
    • $2,200 /Mo

      Spacious Office Suite For Rent

      Office suite featuring reception area, five offices, and breakroom.
      151 Mary Esther Blvd, Mary Esther, FL 32569
      View Details
    • Contact for pricing

      Two-Story Office Building For Rent

      Class B office space in Fort Walton Beach Technology Park.
      634 Anchors St NW, Fort Walton Beach, FL 32569
      View Details
    • $9,000 /Mo
      18,080 SF

      Renovated Office and Flex Space

      9,000 SF flex space with renovated office component.
      481 Mary Esther Blvd, Mary Esther, FL 32569
      View Details
    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.
    124 Mary Esther Dr
    Mary Esther, FL 32569
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!