Service Shop on Half
For Sale
$425,000
805 Playground Road, Fort Walton Beach, FL 32547
Half acre parcel with shop and house near school.
Property Size2,700 SF
Lot Size0.50 Acres
Price / SF$157.41
Days on Market226
Property Features for 805 Playground Road
General Information
Standard status
Active
Size
2,700 SF
Class
Industrial
Lot size
0.50 Acres
Zoning
Commercial Shop
Listed By:
Brian and Mel Marshall
(850) 852-7653
Source:
Stagerightgroup.idxbroker
Added: Mar 5
Changed: Oct 13
Last Checked: Oct 16 at 5:43AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Brian and Mel Marshall
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property is a half-acre parcel located off Racetrack Road, across from Pryor Middle School. Zoned for service shops, it includes two buildings: a 1,300-square-foot shop and a 1,400-square-foot house. The property was previously used as a lawn mower repair shop. The owner is relocating and currently cleaning up the site. This location offers potential for various business uses.
Key Highlights
- Prime location directly off Racetrack Road and across from Pryor Middle School.
- Zoned service shop, suitable for commercial use.
- Includes two buildings: a 1300 sq ft shop and a 1400 sq ft house.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,811
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$776,220
$776.2K
Cap Rate 7%
$554,443
$554.4K
Cap Rate 9%
$431,233
$431.2K
Market Conditions
NOI Build-Up for 2,700 SF
Gross rent
$59.9K $22.20/SF
− Vacancy
−$4.5K −$1.67/SF
EGI
$55.4K $20.54/SF
− OpEx
−$16.6K −$6.16/SF
NOI
$38.8K $14.37/SF
Area
Okaloosa County, FL
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$776,220
Cap Rate 7%
$554,443
Cap Rate 9%
$431,233
Alternative Uses
Best Use
Retail
$554.4K
$485.1K – $646.9K
NOI $38,811 @ 7.0% cap · market cap 9.13%
Second Best
Industrial
$199.6K
$174.7K – $232.9K
NOI $13,975 @ 7.0% cap · market cap 3.29%
Theoretical Best
Specialty Retail
$1.04M
$910.4K – $1.21M
NOI $72,834 @ 7.0% cap · market cap 17.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
954
Businesses Nearby
66k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 39%
Shops & Services 35%
Superstores 21%
Groceries 4%
Big Lots
Superstores
14,003 visits/mo
0.2 miles
Wendy's
Dining
9,997 visits/mo
0.3 miles
Wells Fargo
Shops & Services
6,817 visits/mo
0.4 miles
Dollar General
Shops & Services
6,234 visits/mo
0.2 miles
Burger King
Dining
4,668 visits/mo
0.4 miles
Demographics for 32547, FL
35,466
Population
16,112
Households
2.2
Avg Household Size
37
Median Age
28%
College-Educated
89%
High-School Grad
29.0 sq mi
ZIP Area
1,223
Density / Sq Mi
$67,822
Median Household Income
$36,465
Median Earnings
$1,421
Median Rent
$299,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Xtra Automotive & Muffler Shop — 201 Lang Rd, Fort Walton Beach, FL 32547
- Foxy Auto Repair - Mobile Mechanic — 500 Ross Rd, Fort Walton Beach, FL 32547
- Where Ya At? Mobile Automotive Repair — 600 Manchester Rd, Fort Walton Beach, FL 32547
- C A C Auto Repair Llc — 679 Denton Blvd NW unit #4, Fort Walton Beach, FL 32547
- Techmaster — 683 Denton Blvd NW #1, Fort Walton Beach, FL 32547
Frequently Asked Questions
What type of property is this?
Auto shop - Half acre parcel with shop and house near school.
Where is this auto shop located?
The property is located at 805 Playground Road Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Prime location directly off Racetrack Road and across from Pryor Middle School.; Zoned service shop, suitable for commercial use.; Includes two buildings: a **1300 sq ft shop** and a 1400 sq ft house.
