Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    603 Happiness Road unit C Mary Esther, FL 32569

    View on Map
    For Sale
    $85,000

    LAND - Mary Esther, FL

    Lot size:
    0.15 Acres
    Added:
    Dec 10, 2025
    Days on Market:
    112
    Last Refresh:
    Apr 1 at 10:06 pm

    Property Features for 603 Happiness Road unit C

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Mobile Home, Resid Single
    Standard status
    Active
    APN
    15-2S-25-0000-0088-0010
    Lot size
    0.15 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    BEG 1265 FT E & 500 FT S OF NW COR OF SE1/4 W115 FT S60 FT ELY 115 FT N75 FT TO BEG AS OR
    TaxAnnualAmount
    514

    Utilities

    Sewer type
    Public Sewer, Septic Tank

    We can help!

    Listing Contact
    Jamilet L Moncada

    Listing agent Jamilet L Moncada License #3537407

    Listing office Coastal Realty Services 111 Beal Pkwy SE, Fort Walton Beach, FL

    Listing date Dec 10, 2025

    MLS# 991105

    Copyright © 2026 Emerald Coast 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.

    Overview

    Residential Lot Near Emerald Coast

    This 0.15-acre residential lot is located in Mary Esther, Florida, within Okaloosa County. The cleared lot is build-ready and suitable for new construction or a manufactured house. It is zoned for mobile homes and single residences. The property is located minutes from the beach, military bases, and Emerald Coast attractions. It features water, sewer, and power connections, as well as a new fence. This property presents an investment opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Building Supply Gym & Fitness Center Auto Repair Shop Big Box & Wholesale Store Kitchen & Bath Showroom Hotel & Motel HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Mary Esther
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.7365548
    Latitude
    30.4132198

    Nearby Similar for Sale

    • $925,000

      Commercial Land in Mary Esther

      1.3 acres available in a high-traffic commercial area.
      3393 SW U.S. 98, Mary Esther, FL 32569
      View Details
    • $185,000

      Highway Frontage Vacant Lot

      0.56-acre vacant lot with highway frontage in Mary Esther, FL.
      W Highway 98, Mary Esther, FL 32569
      View Details
    • $749,900
      16,117 SF

      Profitable Car Wash Business Opportunity

      High-income car wash business for sale on a busy street.
      120 Mary Esther Boulevard, Mary Esther, FL 32569
      View Details
    • $89,900

      Residential Lot in Mary Esther

      Residential lot in Wynnhaven Beach Estates, close to Hurlburt AFB.
      Lakeview Street, 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 Hwy 98, Mary Esther, FL 32569
      View Details
    • $5,000,000

      Waterfront Land Development Opportunity

      5-acre waterfront property approved for condominium development in Mary Esther.
      757 E Miracle Strip Parkway, 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 #304, Mary Esther, FL 32569
      View Details
    • $699,000

      Waterfront Residential Lot on Intercoastal

      Half-acre waterfront residential lot with sandy beach and wooded area.
      2847 Us Hwy 98, Mary Esther, FL 32569
      View Details
    • $675,000

      Prime Retail Opportunity Near Hurlburt

      Commercial property with high traffic, ideal for retail or entertainment.
      2960 Highway 98, Mary Esther, Mary Esther, FL 32569
      View Details
    • $120,000

      Water View Residential Land

      0.29-acre lot with unobstructed water views in Mary Esther.
      Wynnehaven Beach Road lot: 1, Mary Esther, FL 32569
      View Details
    • $1,050,000
      219,542 SF

      2 Acre Commercial Outparcel

      2 acre commercial land next to McDonalds, high traffic area.
      2165 HWY 98, Mary Esther, FL 32569
      View Details
    • $595,000

      Waterfront Land in Mary Esther

      3.38-acre waterfront property suitable for a private estate.
      00 Tarpon Road, Mary Esther, FL 32569
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Build-ready lot near beaches, bases, and Emerald Coast attractions.
    Where is this residential land & home lot located?
    The property is located at 603 Happiness Road unit C Mary Esther, FL.
    What is the asking price?
    The asking price for this property is $85,000.
    What are key features of this property?
    This property features: Prime location minutes from the beach, military bases, and Emerald Coast attractions.; Build‑ready: Cleared lot with no trees for fast and cost‑efficient construction.; Essential Utilities: Water, sewer, and power connections available.
    (786) 630-0177
    We can help!
    Listing Contact
    Jamilet L Moncada
    Real Estate License ID: 3537407
    Learn More
    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.
    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!