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Property profile & analytics
FOR SALE
Retail space
123 Hollywood Blvd NE Fort Walton Beach, FL 32548
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-5400118
For Sale
1 / 28
$2,676,797
123 Hollywood Blvd NE, Fort Walton Beach, FL 32548
View Listing →
Property summary
AI-generated overview
This exceptional investment opportunity presents a 6,334 square foot, single-tenant auto shop in Fort Walton Beach, Florida, currently occupied by Safelite AutoGlass under a Net Lease agreement. The property, built in 2006 and renovated in 2023, sits on a 0.582-acre lot and boasts a 6.25% cap rate with a strong NOI of $179,319. The lease, commencing April 26, 2023, and expiring April 26, 2030, includes a 5-year option and features a 3% annual rent increase. Safelite has invested approximately $800,000 in recent improvements. The property benefits from a prime location near Eglin Pkwy SE (37,000 AADT), surrounded by numerous national retailers and restaurants, including Party City, CVS, Dollar Tree, Ulta Beauty, Family Dollar, Waffle House, McDonald's, Chick-fil-A, and Five Guys. The corporate guarantee provides added security, making this a low-risk, high-return investment. The property is zoned CG Commercial and features one single-story building. This is a rare opportunity to acquire a well-located, stable, and high-performing net lease property with a strong tenant and significant upside potential. The asking price is $2,869,111.68.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2006
Construction
STEEL FRAME
Total area
6,624 SF
Lot
0.37 ac (16,000 SF)
APN
13-2S-24-2030-0002-00K0
UPID
US18-5400118
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
-
Safelite AutoGlass General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.76M
CAP Approach
CAP
$1.47M
Comparable Approach
Comparable
$1.43M
Blend (final)
Blend
$1.49M
Owner & transaction history
Jh2 Investments LLC · 3 yrs held
Jh2 Investments LLC
since 2023
Last sale
$1.2M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.5M
+35.7%
Restaurant
$1.5M
+35.1%
Commercial (general)
$1.2M
+8.3%
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)
Refine in 60 seconds, get exact suggested price
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
$1,870,000
ML approach
$1,755,000
CAP Approach
CAP Return
Estimation
6%
$1,585,000
6.5%
$1,465,000
7%
$1,360,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,120,000
Current use
AUTO REPAIR, GARAGE
$1,520,000
Change: +36% · Conversion: Difficult
RESTAURANT
$1,515,000
Change: +35% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,210,000
Change: +8% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,035,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$1.49M
Range $1.34M – $1.64M · ±10% · vs last sale $1.20M (May 22 2023)
Last sale anchor
$1.20M
May 22 2023
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
$225 / 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
$10,456
Tax year 2023
Assessed value
$749,952
Assessed 2023
Previous assessed
$501,848
+49.4% YoY
Effective rate
1.39%
On assessed value
Assessed land
$123,152
Assessed improvement
$626,800
Land market value
$123,152
Improvement market value
$626,800
Total market value
$749,952
Applied tax rate
4.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
2006
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Rooms
8
Total area
6,624 SF
Lot
0.37 ac (16,000 SF)
APN
13-2S-24-2030-0002-00K0
UPID
US18-5400118
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
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.5M
RESTAURANT
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.0M
RETAIL STORES Current
AUTO REPAIR, GARAGE
RESTAURANT
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2006
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Rooms
8
Lot
0.37 ac
Current owner
From public records · entity-resolved
Jh2 Investments LLC
Entity
Mailing address
4395 BAHIA LN, DESTIN, FL 32541-3417
Ownership since
2023
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
May 22, 2023
$1,200,000
Jh2 Investments LLC
Tile And Stone Concepts INC
Warranty Deed
$1,270,000 · Capital City Bank
Jul 2, 2002
$110,000
Title & Stone Concepts INC
Glass Master Group LLC
Grant Deed
—
Nov 9, 1998
$525,200
Glass Master Group
Dixie Glass Co
Grant Deed
related
—
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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