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    Property profile & analytics

    110 Watercolor Way Santa Rosa Beach, FL 32459-7354

    • Grocery and convenience stores
    • 46,014 SF
    • 6.20 lot acres
    OFF-MARKET
    Value Estimations
    $4,490,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5925471
    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

    • Primo Water Refill / Big Box & Wholesale Store
    • Publix Super Market at Watercolor Crossings / Specialty Food Shop / Supermarket
    • City National Bank - Presto ATM / Bank / Loan Service
    • Presto! ATM at Publix Super Market / Atm
    • Western Union / Bank / Credit Union

    Property Details for 110 Watercolor Way

    Year built
    2003
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    6.20 lot acres
    Property size
    46,014 SF
    Property type
    Grocery and convenience stores
    APN
    14-3S-19-25401-000-0040
    APU
    143S19254010000040

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,716,000
      Market price range: $2.77M - $11.6M
      AI Estimate
      $3,074,000
      Market price range: $1.94M - $7.32M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $7,115,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Santa Rosa Beach
    County
    Walton
    State
    Florida
    Longitude
    -86.1263
    Latitude
    30.3282
    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
    $88,251
    $2,859,744
    $6,852,671
    $9,712,415
    -
    $2,859,744
    $6,852,671
    $9,712,415

    Comparable in this City

    • Value Estimation
      $3,710,000
      43,420 SF

      2038 Us Hwy 98th W

      GROCERY, SUPERMARKET • 43,420 SF
      2038 Us Hwy 98th W, Santa Rosa Beach, FL 32459-5322
      View Details
    • Value Estimation
      $780,000
      6,718 SF

      3525 Us Hwy 98th W

      RETAIL STORES (PERSONAL SERVICES) • 6,718 SF
      3525 Us Hwy 98th W, Santa Rosa Beach, FL 32459-4063
      View Details
    • Value Estimation
      $585,000
      6,312 SF

      4444 Us Hwy 98th W

      RETAIL STORES (PERSONAL SERVICES) • 6,312 SF
      4444 Us Hwy 98th W, Santa Rosa Beach, FL 32459-4093
      View Details
    • Value Estimation
      $785,000
      5,239 SF

      63 Central Sq

      RETAIL STORES (PERSONAL SERVICES) • 5,239 SF
      63 Central Sq, Santa Rosa Beach, FL 32459-0808
      View Details
    • Value Estimation
      $1,340,000
      12,075 SF

      25 Central Sq

      RETAIL STORES (PERSONAL SERVICES) • 12,075 SF
      25 Central Sq, Santa Rosa Beach, FL 32459-0808
      View Details
    • Value Estimation
      $815,000
      5,050 SF

      5221 County Hwy 30a

      RETAIL STORES (PERSONAL SERVICES) • 5,050 SF
      5221 County Hwy 30a, Santa Rosa Beach, FL 32459-6560
      View Details

    Similar Nearby for Sale

    • $4,950,000

      Santa Rosa Beach Warehouse/Showroom/Office

      14,000+ SF warehouse, showroom, and office space for sale.
      73 Veterans Rd, Santa Rosa Beach, FL 32459
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    • $4,400,000

      Modern Retail/Flex Building For Sale

      9,791 SF retail/flex building with highway frontage near Gulf.
      38 W Thompson Rd, Santa Rosa Beach, FL 32459
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    • $3,995,000

      New Car Wash on Highway

      State-of-the-art car wash in Santa Rosa Beach, Florida.
      3105 Us-98, Santa Rosa Beach, FL 32459
      View Details
    • $4,750,000

      Executive Car Wash: Santa Rosa Beach

      High-Volume Car Wash, Prime Location
      3105 Us Highway 98, Santa Rosa Beach, FL 32459
      View Details
    • $12,500,000

      Choctawhatchee Bay Front Acreage

      35.55 acres with 2,285 feet of waterfront on Choctawhatchee Bay.
      78 Whispering Shore Cv, Santa Rosa Beach, FL 32459
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    • $1,295,000

      Waterfront Homesite in Point Washington

      Oversized canal-front homesite with direct waterway access near 30A.
      8 E Shallows Dr East, Santa Rosa Beach, FL 32459
      View Details

    Similar Nearby for Lease

    • $34 SF/Yr
      33,508 SF

      Retail and Flex Spaces Available

      New commercial retail and flex spaces coming in 2025.
      4935 W 98 Hwy, Santa Rosa Beach, FL 32459
      View Details
    • $33 SF/Yr

      Retail and Flex Space Available

      New commercial complex with retail, showroom, warehouse, and flex spaces.
      4935 W 98 Hwy, Santa Rosa Beach, FL 32459
      View Details
    • $10,364 /Mo
      8,357 SF

      Versatile Commercial Space For Rent

      8,300 SF commercial space ideal for retail, office, restaurant.
      605 N Co Hwy 393, Santa Rosa Beach, FL 32459
      View Details
    • $14 SF/Yr
      3,000 SF

      Retail Space Near Highway 30A

      Retail space with high visibility and convenient highway access.
      4942 Us Highway 98 W, Santa Rosa Beach, FL 32459
      View Details
    • $35 SF/Yr

      Retail Center on US HWY 98

      Neighborhood retail center with highway frontage and convenient access.
      4552 S 98, Santa Rosa Beach, FL 32459
      View Details
    • $23 SF/Yr
      19,100 SF

      New Retail/Industrial Complex For Rent

      New retail and industrial spaces available for lease.
      56 Gordonia Way, Santa Rosa Beach, FL 32459
      View Details

    Property Visit Statistics

    • Visits by month
      58.8k
    • Visitors by month
      30.8k
    • Avg Time on site
      23 min
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    110 Watercolor Way
    Santa Rosa Beach, FL 32459-7354
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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.

    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
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