1318 SE Miracle Strip Pkwy Fort Walton Beach, FL 32548
This exceptional 15,640-square-foot retail property, located at 1318 SE Miracle Strip Parkway on Okaloosa Island in Fort Walton Beach, Florida, presents a unique investment opportunity. Situated on a generous 2.79-acre lot, this two-story building boasts stunning views and easy access to the Choctawhatchee Bay. The property is currently vacant and offers significant potential for a variety of commercial uses, particularly restaurants and bars. Key features include a large parking area, two fully equipped kitchens, an arcade area, and a convenient elevator servicing both floors. The building is equipped with a sprinkler system, ensuring safety and compliance. Its prime location on Okaloosa Island, a popular tourist destination attracting millions of visitors annually, provides unparalleled visibility and access to a large customer base. The property's proximity to the Island Hotel Resort and the Okaloosa Island Boardwalk further enhances its appeal and potential for high foot traffic. The property is zoned for commercial use within Okaloosa County, Florida, zip code 32548. This is a rare opportunity to acquire a substantial, well-located commercial property with significant upside potential.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.