1652 Hwy 98 Mary Esther, FL 32569-1548
Property profile & analytics
1652 Hwy 98 Mary Esther, FL 32569-1548
- Retail space
- 5,178 SF
- 0.74 lot acres
Property ID
US18-5192059
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.
Location Intelligence
Current Use by Public Records
- Retail space
Property Details for 1652 Hwy 98
- Year built
- 1962
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.74 lot acres
- Property size
- 5,178 SF
- Property type
- Retail space
- APN
- 14-2S-25-0000-0050-0020
- APU
- 142S25000000500020
Description
This exceptional mixed-use property, located at 1652 Highway 98 in Mary Esther, Florida (32569), presents a compelling investment opportunity. The 32,234 square foot lot houses a single, 1-story building, constructed in 1962 and renovated in 2020, offering 5,178 net rentable square feet. Currently boasting 100% occupancy with two tenants, this Class C property generates a strong NOI of $63,000, resulting in a 7% cap rate. The asking price is $900,000, or $450,000 per unit, making it an attractive value-add investment under a NNN lease structure. Its prime location on Highway 98 ensures high visibility and accessibility, benefiting from proximity to Hurlburt Field and Eglin Air Force Base, driving consistent traffic. The property features ample parking and is situated within a bustling retail corridor, offering excellent potential for growth and strong returns. The permitted mixed-use zoning allows for diverse business applications, capitalizing on the area's thriving economy and robust tourism. This is a 1031 exchange eligible property.
Value Estimations
based on Realmo’s proprietary methodology
-
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $995,000 Current use
- RESTAURANT
- $1,100,000 Change: +11% Conversion: Easy
- NEIGHBORHOOD: SHOPPING CENTER
- $810,000 Change: -18% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $800,000 Change: -20% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Mary Esther
- County
- Okaloosa
- State
- Florida
- Longitude
- -86.7282
- Latitude
- 30.4123
- 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
$4,394
$246,979
$112,305
$359,284
-
$246,979
$112,305
$359,284
