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106 Racetrack NE Rd Fort Walton Beach, FL 32547-1872

OFF-MARKET Sports & entertainment properties Google Maps
8,221 SF 1.07 ac lot Built 2003
Entity Owned Absentee Owner ~ Est. High Equity
Estimated value (blended)
$370k
Range $333k – $407k (±10%)
Property ID US18-5863341

Property summary

AI-generated overview

This exceptional 7,963-square-foot commercial building presents a unique investment opportunity in Fort Walton Beach, Florida. Situated on a 1.63-acre lot at 106 Racetrack Rd NE, 32547, this single-story, 2003-built structure boasts a spacious, open-concept interior ideal for customization. Currently vacant, the property offers significant potential for a variety of uses, thanks to its C-3 zoning. The building features high ceilings and ample restroom and storage space. A key advantage is the extensive paved parking area, providing nearly 100 spaces for employees and clients. The property enjoys high visibility with over 250 feet of frontage on Racetrack Road, a major thoroughfare with an average daily traffic count exceeding 27,000 vehicles. This prime location in Okaloosa County offers easy access to local amenities and a strong regional economy. The asking price is $1,800,000, translating to $226.05 per square foot. This presents a blank canvas for a discerning investor or business owner seeking a prominent presence in a thriving market. The property's size and location make it suitable for a wide range of commercial ventures. Don't miss this chance to acquire a substantial commercial property in a high-traffic area.

Property profile

Verified
Property type Sports & entertainment properties
Use group RECREATIONAL, ENTERTAINMENT
Year built 2003
Construction STEEL FRAME
Total area 8,221 SF
Lot 1.07 ac (46,640 SF)
APN 36-1S-24-0650-0004-06A0
UPID US18-5863341

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Bingo Hall

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$370k

Owner & transaction history

since 2025
Last sale
$1.3M
4 recorded transactions
2025
Price N/A
2025
$1.3M
2019
Price N/A
1996
$175,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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