Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • 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

    417 Racetrack Rd NW Fort Walton Beach, FL 32547

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $10,000 /Mo ($11 SF/Yr)

    Large office suite with ample parking, ready for occupancy.

    Property size:
    10,564 SF
    Lot size:
    1.92 Acres

    Property Features for 417 Racetrack Rd NW

    General Information

    Size
    10,564 SF
    Lot size
    1.92 Acres

    We can help!

    Listing Contact
    Craig Barrett
    Source: Moodyscre

    Listing Agency: NBI Properties, Inc. Listing Agent: Craig Barrett

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Spacious Office Suite Available

    This expansive office suite is suitable for large or growing companies seeking office space. The space can be subdivided to accommodate specific needs. The suite features a sizable reception area for greeting clients and guests. The main area includes multiple individual offices and several larger spaces that could function as conference rooms. Ample parking is available for employees and clients. The property is located on Racetrack Rd NW in Fort Walton Beach, FL.
    Location Intelligence

    Current Use by Public Records

    Healing You! THERAPY Medical Clinic Angel Williamson Imaging ... Medical Clinic Emerald Coast Gastroenterology Medical Clinic Clarkson Fort Walton: ... Physician Lotus Learning & Arts ... Special Education Facility

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Walton Beach
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.6336507
    Latitude
    30.4488485

    Nearby Similar for Lease

    • $10 SF/Yr
      9,760 SF

      Fort Walton Beach Commercial Space

      Prime Office, Showroom, & Warehouse Space
      2 Racetrack Rd NE, Fort Walton Beach, FL 32547
      View Details
    • $1,100 /Mo
      450 SF

      Fort Walton Beach Office Suite

      Executive office, 450 sq ft, short-term lease.
      326 Green Acres Rd, Fort Walton Beach, FL 32547
      View Details
    • $3,884 /Mo
      14,584 SF

      Furnished Office Suite in Fort Walton

      Professionally managed, fully furnished office suite in a mixed-use building.
      403 NW Hollywood Blvd, Fort Walton Beach, FL 32548
      View Details
    • $1,650 /Mo
      920 SF

      Upgraded Townhouse with Fenced Backyard

      Renovated townhouse featuring granite counters, new flooring, and private backyard.
      888 Culp Ave, Fort Walton Beach, FL 32547
      View Details
    • $23 SF/Yr
      11,820 SF

      Fort Walton Flex Building

      Flex building with warehouse, office, showroom, and large outdoor area.
      702 Anchors St NW, Fort Walton Beach, FL 32548
      View Details
    • $28 SF/Yr
      3,644 SF

      Fort Walton Beach Retail Space

      High-visibility retail property with drive-thru and commercial kitchen.
      302 Racetrack Rd NW, Fort Walton Beach, FL 32547
      View Details
    • $20 SF/Yr
      9,000 SF

      Versatile Industrial Facility for Lease

      9,000 SF industrial facility on 1.5 acres for lease.
      309 Green Acres Rd, Fort Walton Beach, FL 32547
      View Details
    • $4,500 /Mo
      3,160 SF

      Professional Office Building For Rent

      Two-story office building with high visibility and ample parking.
      1980 Lewis Turner Blvd, Fort Walton Beach, FL 32547
      View Details
    • $12 SF/Yr
      10,265 SF

      Retail/Office Space in Fort Walton

      10,265 SF space ideal for retail or office use.
      109-113 Racetrack Rd NE, Fort Walton Beach, FL 32547
      View Details
    • $12 SF/Yr
      13,975 SF

      Fort Walton Beach Industrial Space For Lease

      Large industrial space with high power & docks.
      161 Hill Ave NW, Fort Walton Beach, FL 32548
      View Details
    • $1,100 /Mo

      Executive Office Suite For Rent

      Versatile executive office suite designed for comfort and productivity.
      326 Green Acres Rd, Fort Walton Beach, FL 32547
      View Details
    • $4,700 /Mo
      2,850 SF

      Fort Walton Beach Office Space

      2850 SF office space with Santa Rosa Sound views.
      348 SW Miracle Strip Pkwy, Fort Walton Beach, FL 32548
      View Details

    FAQs

    What type of property is this?
    Office space - Large office suite with ample parking, ready for occupancy.
    Where is this office space located?
    The property is located at 417 Racetrack Rd NW Fort Walton Beach, FL.
    What is the lease rate?
    The lease rate is $11 SF/Yr.
    What are key features of this property?
    This property features: - Ample parking space for employees and clients.; - Large space suitable for large or growing companies.; - Sub-dividable space for flexible configuration.
    (850) 217-0303
    Request Owner's contact information
    417 Racetrack Rd NW Fort Walton Beach, FL 32547
    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.
    417 Racetrack Rd NW
    Fort Walton Beach, FL 32547
    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
    417 Racetrack Rd NW Fort Walton Beach, FL 32547
    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

    We can help!
    Listing Contact
    Craig Barrett
    (850) 217-0303
    Learn more
    Google sign-in failed. Please try again or use another login method.