2 NW Racetrack Rd Fort Walton Beach, FL 32547
Auto shops
Google Maps
Entity Owned
2-yr Hold
Free & Clear
For Sale
1 / 12
$1,250,000
2 NW Racetrack Rd, Fort Walton Beach, FL 32547
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Estimated value (blended)
$1.13M
Range $1.01M – $1.24M (±10%)
Property ID
US18-3325263
Property summary
AI-generated overview
This freestanding commercial property totals 9,760 square feet and is located in Fort Walton Beach, Florida. The building includes 5,140 square feet of climate-controlled office and showroom space and 4,620 square feet of warehouse space. It sits on a 0.8-acre lot and provides 30 parking spaces. Vehicular access is available from both Mooney Rd and Racetrack Rd. The property is configured to support service-oriented business uses and is set up under a triple-net (NNN) style lease structure.
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1983
Construction
STEEL FRAME
Total area
9,836 SF
Lot
0.84 ac (36,450 SF)
APN
35-1S-24-1550-0008-0000
UPID
US18-3325263
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Atm
-
Gas Station
-
Bank Credit Union
-
Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.37M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$684k
Blend (final)
Blend
$1.13M
Owner & transaction history
since 2023
Last sale
$875,000
3 recorded transactions
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.13M
Value range
$1.01M – $1.24M
±10% around blend
Estimated value / SF
$114 / SF
Confidence
Property data
88
Market benchmarks
67
Comparable evidence
60
Income certainty
100
$1.01M
blend $1.13M
$1.24M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
9,836 SF
Lot area
0.84 ac
Year built
1983
Stories
2
APN
35-1S-24-1550-0008-0000
Assessed value
$561,995
Annual tax
$6,958
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$6,958
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$684k
Range $596k – $1.59M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.13M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 23 sales
$229
-50%
County 48 sales
$154
-26%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $114/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
8.59%
Selected cap rate for this auto shops
Derived from the Fort Walton Beach market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 8.59%
9.0%
NOI (est.)
$107k *
Last sale · Dec 2023
$875k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.25M
Move the market yield to see immediate price impact.
Value / SF
$127
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
8.09%8.59%9.09%
$97k
$1.19M
$1.12M
$1.06M
$107k
$1.33M
$1.25M
$1.18M
$118k
$1.46M
$1.37M
$1.30M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$6,958
Tax year 2023
Assessed value
$561,995
Assessed 2023
Previous assessed
$543,370
+3.4% YoY
Effective rate
1.24%
On assessed value
Assessed land
$427,839
Assessed improvement
$134,156
Land market value
$427,839
Improvement market value
$134,156
Total market value
$561,995
Applied tax rate
12.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
For Sale
Year built
1983
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
1
Rooms
16
Total area
9,836 SF
Lot
0.84 ac (36,450 SF)
APN
35-1S-24-1550-0008-0000
UPID
US18-3325263
Jurisdiction
OKALOOSA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1983
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
1
Rooms
16
Lot
0.84 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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