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Property profile & analytics
FOR LEASE
Strip malls
109 Racetrack Rd NE Fort Walton Beach, FL 32547
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US18-4585682
For Lease
1 / 8
$12 SF/Yr
109 Racetrack Rd NE, Fort Walton Beach, FL 32547
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Property summary
AI-generated overview
This exceptional leasing opportunity is located at 109 Racetrack Rd NE, Fort Walton Beach, FL 32547, within the Beltway Plaza Shopping Center. The property offers 1,540 square feet of versatile retail/restaurant space, ideal for a variety of businesses. Situated on a 4.05-acre lot, this Class C property enjoys prime visibility and signage along Racetrack Rd NE, benefiting from exposure to over 28,500 vehicles daily. The shopping center comprises two single-story buildings totaling 62,504 square feet and fourteen suites. Built in 1970, this established center provides a strong foundation for new tenants. The zoning is designated as SH CTR COMM. The property's location in Fort Walton Beach, Florida (zip code 32547) offers excellent access and visibility. This is a rare opportunity to secure a space in a high-traffic location within a well-established shopping center. The property's APN is 01-2S-24-0000-0032-0000. The cross street is Racetrack Rd NE. This space is ready for immediate occupancy.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
60,964 SF
Lot
4.05 ac (176,327 SF)
APN
01-2S-24-0000-0032-0000
UPID
US18-4585682
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Thai Hut Garden Restaurant
-
Stars N Stripes Liquor & Fine Wine (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Gulf Coast Monuments General Contractor
-
Ocean City Bingo Bingo Hall
-
FLUENT Cannabis Dispensary - Fort Walton Beach (Bike/Boat/Book/etc) Store Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.91M
Blend (final)
Blend
$3.15M
Owner & transaction history
Beltway Shopping Center LLC|ghosh,jay · 11 yrs held
Beltway Shopping Center LLC|ghosh,jay
since 2014
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fort Walton Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Walton Beach submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
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T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.15M
Range $2.84M – $3.47M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$52 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$24,855
Tax year 2023
Assessed value
$2,007,646
Assessed 2023
Previous assessed
$1,892,138
+6.1% YoY
Effective rate
1.24%
On assessed value
Assessed land
$920,914
Assessed improvement
$1,086,732
Land market value
$920,914
Improvement market value
$1,086,732
Total market value
$2,007,646
Applied tax rate
12.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
OTHER
Buildings
2
Stories
1
Rooms
53
Total area
60,964 SF
Lot
4.05 ac (176,327 SF)
APN
01-2S-24-0000-0032-0000
UPID
US18-4585682
Jurisdiction
OKALOOSA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Rooms
53
Lot
4.05 ac
Current owner
From public records · entity-resolved
Beltway Shopping Center LLC|ghosh,jay
Entity
Mailing address
PO BOX 755, FORT WALTON BEACH, FL 32549-0755
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2014
$1,600,000
Beltway Shopping Center LLC|ghosh,jay
Ronpope Beltway LLC
Grant Deed
$1,200,000 · Smartbank
Nov 1, 2013
—
Ronpope Beltway LLC
Beltway Trust
Quit Claim Deed
—
—
—
Beltway Trust
—
Deed Of Trust
related
$706,321 · Jgb Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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