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Property profile & analytics
OFF-MARKET
Estimated value
$975,000
Commercial land
14 Racetrack NE Rd Fort Walton Beach, FL 32547-1801
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-6440528
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1985
Total area
1,631 SF
Lot
0.6 ac (26,000 SF)
Zoning code
RUS
APN
35-1S-24-1550-0005-0000
UPID
US18-6440528
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
-
Simply Elegant Bridal Clothing & Fashion Store
-
Simply Certified Sandals Specialist Travel Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$975k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$975k
Owner & transaction history
Flying Dog Property LLC · 2 yrs held
Flying Dog Property LLC
since 2024
Last sale
$975,000
7 recorded transactions
Zoning & alternative use
RUS · Fort Walton Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$870,000
+173.6%
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
$975,000
ML approach
$975,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$870,000
Change: +174% · Conversion: Easy
Blend value · Realmo final
$975k
Range $878k – $1.07M · ±10% · vs last sale $975k (Jun 26 2024)
Last sale anchor
$975k
Jun 26 2024
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
$598 / 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
$5,362
Tax year 2023
Assessed value
$451,954
Assessed 2023
Previous assessed
$401,853
+12.5% YoY
Effective rate
1.19%
On assessed value
Assessed land
$447,268
Assessed improvement
$4,686
Land market value
$447,268
Improvement market value
$4,686
Total market value
$451,954
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1985
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
1
Total area
1,631 SF
Lot
0.6 ac (26,000 SF)
Zoning code
RUS
APN
35-1S-24-1550-0005-0000
UPID
US18-6440528
Jurisdiction
OKALOOSA
Zoning & alternative use
RUS · Fort Walton Beach, FL
Zoning RUS · permitted uses
RUS · Fort Walton Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fort Walton Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$870,000
OFFICE BUILDING
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
1985
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.6 ac
Current owner
From public records · entity-resolved
Flying Dog Property LLC
Entity
Free & Clear · 2 yrs held
Mailing address
14 RACETRACK RD NE, FORT WALTON BEACH, FL 32547-1801
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2024
$975,000
Flying Dog Property LLC
Robert West
Warranty Deed
—
Jun 13, 2016
—
West,robert J & Deborah J Trust
West,robert J & Deborah J
Quit Claim Deed
related
—
Nov 14, 2013
$325,000
West,robert J Trust
Trustmark National Bank
Grant Deed
$260,000 · Summit Bank
Nov 10, 2011
$200,100
Trustmark Natl Bk
Siegel,robert V Coc
Trustees Deed
related
—
Sep 11, 2009
—
S & P Of North Florida LLC
S & P Of North Florida LLC
Quit Claim Deed
—
Jun 5, 2006
$795,000
S & P Of North Florida LLC
Paulzak,gary M
Warranty Deed
$658,750 · Trustmark National Bank
May 25, 2006
$650,000
Gary M Paulzak
Jlj Of Fort Walton Beach LLC
Quit Claim Deed
related
—
Aug 9, 2004
$401,700
Jlj Of Ft Walton Beach LLC
Middleton Sarah S Trust
Warranty Deed
$320,000 · Regions Bank
Dec 23, 2003
$200,000
West,tr
Middleton,tr
Grant Deed
$200,000 · Beach Community Bank
Dec 23, 2003
$139,000
Middleton,tr
West,tr
Grant Deed
$100,000 · Beach Community Bank
Aug 23, 2002
$200,000
West,tr
Middleton,tr
Grant Deed
$100,000 · Beach Community Bank
Aug 21, 2001
$550,000
Middleton Trust
Frye,bobby R
Grant Deed
$825,000 · Beach Community Bank
Apr 30, 1997
—
Christa A Frye
Frye,bobby R
Quit Claim Deed
related
—
—
—
West,robert J & Deborah J Trust
—
Deed Of Trust
related
$353,000 · Fnbt Bk
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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