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    Miracle Strip Pkwy Ft Walton Beach, FL 32548

    • Marinas
    • 39,132 SF
    • 1.56 lot acres
    OFF-MARKET
    Value Estimations
    $985,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-7189588
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Marinas

    Property Details for Miracle Strip Pkwy

    Year built
    2002
    Construction
    STEEL FRAME
    Lot size
    1.56 lot acres
    Property size
    39,132 SF
    Property type
    Marinas
    APN
    00-2S-24-2185-0012-02A0
    APU
    002S242185001202A0

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Ft Walton Beach
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.5987
    Latitude
    30.3997
    CBSA code
    18880
    CBSA name
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $21,750
    $739,675
    $891,963
    $1,631,638
    -
    $739,675
    $891,963
    $1,631,638

    Comparable in this City

    • Value Estimation
      $3,970,000
      2,850 SF

      Miracle Strip Pkwy

      MARINE FACILITY/BOARD REPAIRS • 2,850 SF
      Miracle Strip Pkwy, Ft Walton Beach, FL 32548
      View Details
    • Value Estimation by Request
      3,419 SF

      605 Oak NW St

      CREMATORIUM, MORTUARY • 3,419 SF
      605 Oak NW St, Fort Walton Beach, FL 32548-3834
      View Details
    • Value Estimation by Request
      1,176 SF

      55 Fry NE Rd

      CHARITABLE ORGANIZATION • 1,176 SF
      55 Fry NE Rd, Fort Walton Beach, FL 32548-5170
      View Details
    • Value Estimation by Request
      1,911 SF

      100 Buck NE Dr

      CHARITABLE ORGANIZATION • 1,911 SF
      100 Buck NE Dr, Fort Walton Beach, FL 32548-5056
      View Details
    • Value Estimation by Request
      3,264 SF

      68 Beal SW Pkwy

      VETERINARY, ANIMAL HOSPITAL • 3,264 SF
      68 Beal SW Pkwy, Fort Walton Beach, FL 32548-5331
      View Details
    • Value Estimation by Request
      889 SF

      11 Carson Dr

      CREMATORIUM, MORTUARY • 889 SF
      11 Carson Dr, Ft Walton Beach, FL 32548
      View Details

    Similar Nearby for Sale

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      Sound-Side Townhome with Boat Slip

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    • $875,000
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      Waterfront Condo with Boat Slip

      Luxury condo in Fort Walton Beach with boat slip and lift.
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      Fort Walton Beach Commercial Property

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    Similar Nearby for Lease

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      1,775 SF

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    • $95,000
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      24,820 SF

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    • $12 SF/Yr
      300,000 SF

      Uptown Station Retail Space

      Fort Walton Beach prime retail center
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      15,640 SF

      Prime Okaloosa Island Retail Space

      15,640 SF Restaurant/Bar, Bayfront Location
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      Class B Office Space Available

      Two-story Class B office building in Technology Park for rent.
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    Ft Walton Beach, FL 32548
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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.

    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
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