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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    119 Hollywood Blvd NW Fort Walton Beach, FL 32548

    • Warehouses
    • 27,110 SF
    • 1.18 lot acres
    For Lease
    View listing
    $1,300 /Mo
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6012104
    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

    • Ricochet Beauty Spa / Spa & Massage Center
    • Revive Media Services / Film Production / Television Studio
    • Omega Granite & Kitchen / Building Supply / Hardware & Home Improvement
    • Welding & Metallurgical Equipment / General Contractor
    • Bayside Shuttle / Moving Company / Logistics Company

    Property Details for 119 Hollywood Blvd NW

    Year built
    1987
    Construction
    STEEL FRAME
    Lot size
    1.18 lot acres
    Property size
    27,110 SF
    Property type
    Warehouses
    APN
    14-2S-24-1190-0000-00J9
    APU
    142S241190000000J9

    Description

    This exceptional commercial property, located at 119 Hollywood Blvd in Fort Walton Beach, Florida, presents a unique investment opportunity. The building, situated in Okaloosa County, offers a total of 4,700 square feet of space, with 700 square feet currently vacant and immediately available for lease. The property is classified as both office and industrial, encompassing warehouse, storefront, and traditional building subtypes. The building features a versatile layout suitable for multiple tenants. The vacant 700 square feet offers significant potential for a variety of businesses. A key feature of this space is a 14-foot garage door, ideal for loading and unloading goods, and a convenient restroom is also included. The property's address is 119 Hollywood Blvd, Fort Walton Beach, FL 32548, within the Fort Walton Beach submarket. This prime location offers excellent accessibility and visibility, making it an attractive option for businesses seeking a strategic presence in this thriving area. The property's diverse functionality and convenient amenities make it an ideal choice for a range of commercial ventures. Serious inquiries are encouraged to explore this promising opportunity further.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,730,000
      Market price range: $1.73M - $3.21M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $2,435,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Walton Beach
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.6222
    Latitude
    30.4132
    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
    $12,865
    $311,778
    $610,940
    $922,718
    -
    $311,778
    $610,940
    $922,718

    Comparable in this City

    • Value Estimation by Request
      4,260 SF

      27 Industrial NW St

      WAREHOUSE, STORAGE • 4,260 SF
      27 Industrial NW St, Fort Walton Beach, FL 32548
      View Details
    • Value Estimation by Request
      3,578 SF

      99 Lovejoy NW Rd

      MINI-WAREHOUSE, STORAGE • 3,578 SF
      99 Lovejoy NW Rd, Fort Walton Beach, FL 32548-3479
      View Details
    • Value Estimation by Request
      3,732 SF

      124 Hollywood SW Blvd

      WAREHOUSE, STORAGE • 3,732 SF
      124 Hollywood SW Blvd, Fort Walton Beach, FL 32548-4778
      View Details
    • Value Estimation
      $570,000
      9,340 SF

      28 Industrial NW St

      WAREHOUSE, STORAGE • 9,340 SF
      28 Industrial NW St, Fort Walton Beach, FL 32548-4814
      View Details
    • Value Estimation
      $1,940,000
      16,656 SF

      34 Industrial NW St

      WAREHOUSE, STORAGE • 16,656 SF
      34 Industrial NW St, Fort Walton Beach, FL 32548-4814
      View Details
    • Value Estimation
      $1,050,000
      13,280 SF

      40 Industrial NW St

      WAREHOUSE, STORAGE • 13,280 SF
      40 Industrial NW St, Fort Walton Beach, FL 32548-4814
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $1,300 /Mo
      1,300 SF

      Fort Walton Beach Industrial Space

      1300 SF Warehouse, NNN Lease
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    • $12 SF/Yr
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      Fort Walton Beach Industrial Space For Lease

      Large industrial space with high power & docks.
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    • $2,850 /Mo

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      Double-sized warehouse with office, bathroom, and roll-up doors.
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    • $23 SF/Yr
      11,820 SF

      Fort Walton Flex Building

      Flex building with warehouse, office, showroom, and large outdoor area.
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    • $7,500 /Mo
      10,000 SF

      Functional Industrial Property with Bay Doors

      Versatile industrial property with high ceilings and oversized bay doors.
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      View Details
    • $118 SF/Yr
      2,241 SF

      Fort Walton Beach Flex Space

      Prime Industrial Warehouse, 2,241 sq ft.
      658 Lovejoy Rd, Fort Walton Beach, FL 32548
      View Details
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    119 Hollywood Blvd NW
    Fort 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.

    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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