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    19 Plz Way Watersound, FL 32461

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    Sponsored
    For Lease
    $45 SF/Yr

    COMMERCIAL - Watersound, FL

    Type:Retail
    Property size:
    12,935 SF
    Days on Market:
    75
    Last Refresh:
    Mar 6 at 9:06 am

    Property Features for 19 Plz Way

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Property condition
    Under Construction
    Standard status
    Active
    APN
    23-3S-18-16000-001-0040
    Size
    12,935 SF

    Building Details

    Year built
    2025
    Floors in Building
    1

    We can help!

    Listing Contact
    Marek Bakun

    St. Joe Community Sales Inc-Watersound (850) 534-2100

    Listing agent Marek Bakun (850) 231-6547

    Listing date Dec 22, 2025

    MLS# 765118

    Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Retail Space in Watersound Town

    New construction retail units are available for lease on the first floor of Building 11, situated within Watersound Town Center at the corner of Origins Main Street and Plaza Way. Watersound Town Center is a lifestyle center located at the entrance of the Watersound Origins residential community, offering significant opportunity along US Hwy 98, the area's primary transportation route. The property size is 12935 square feet. Construction completion is anticipated in Q1 2026. Tenants are subject to base rent and percentage rent, and Tenant Improvement Allowance (TIA) is offered for buildout. Current tenants in the town center include Starbucks, Publix, FedEx, Marcos, Friends 30a, Village Market, Ascension Sacred Heart, Ambrosia, Dermatology Specialists, Aqua Medical Spa, Nigel's, Sweet Henrietta's, Legacy Dental, Halo Salon, and J. McLaughlin, with a high-end sports bar coming soon.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Watersound
    County
    Walton
    State
    Florida
    Longitude
    -86.021172
    Latitude
    30.295719

    Nearby Similar for Lease

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      Retail Space in Watersound Town

      New retail units in Watersound Town Center, completion Q4 2025.
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    • $40 SF/Yr

      Watersound Town Center Office Space

      Professional office space available in Watersound Town Center.
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      New Retail Space in Watersound

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      Watersound Retail Space - Lease Opportunity

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    • $0.03 SF/Yr
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      Watersound Office Space: Pre-Lease Opportunity

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      Watersound Inn Class A Office

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    FAQs

    What type of property is this?
    Retail space - New retail units for lease in Watersound Town Center.
    Where is this retail space located?
    The property is located at 19 Plz Way Watersound, FL.
    What is the lease rate?
    The lease rate is $45 SF/Yr.
    What are key features of this property?
    This property features: - Prime location within Watersound Town Center, a lifestyle center at the entrance of Watersound Origins.; - High-visibility corner location at Origins Main Street and Plaza Way.; - Significant opportunity along US Hwy 98, a primary transportation route.
    (850) 534-2100
    Request Owner's contact information
    19 Plz Way Watersound, FL 32461
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    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
    19 Plz Way Watersound, FL 32461
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    We can help!
    Listing Contact
    Marek Bakun
    Real Estate License ID: 3026636
    (850) 534-2100 (850) 231-6547 (888) 836-8353
    Learn more
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