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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    20 Ready Ave NW Fort Walton Beach, FL 32548

    • Manufacturing properties
    • 25,991 SF
    • 1.24 lot acres
    For Sale
    View listing
    $1,950,000
    Last Sale
    Mar 01, 2025
    $1,850,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2993775
    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.

    Current Use by Public Records

    • Kitchen & Bath Center / Bathroom Remodeler / Flooring Store

    Property Details for 20 Ready Ave NW

    Year built
    1990
    Construction
    STEEL FRAME
    Lot size
    1.24 lot acres
    Property size
    25,991 SF
    Property type
    Manufacturing properties
    APN
    17-2S-24-0000-0001-0240
    APU
    172S24000000010240

    Description

    This exceptional investment opportunity presents a stabilized industrial property located at 20 Ready Ave NW, Fort Walton Beach, FL 32548. The property encompasses a single, 35,594 square foot building situated on a 2.92-acre lot. Built in 1990, the structure currently serves as a kitchen and bath center manufacturing and distribution warehouse, operating under a triple net (NNN) lease with a single tenant. The lease commenced January 1, 2023, and expires December 31, 2025, with three 3-year renewal options. The current lease term has 1.1 years remaining. The property boasts a strong 7.56% capitalization rate and a net operating income (NOI) of $147,407. The asking price is $1,950,000. The property is zoned CTP and enjoys excellent accessibility from Ready Ave, near the intersection of Hill Ave NW (21,500 AADT) and Hollywood Blvd NW (18,500 AADT). The property's APN is 17-2S-24-0000-0001-0240. This is a rare opportunity to acquire a high-performing, fully occupied industrial asset in a desirable location. The 100% occupancy ensures immediate cash flow, making this an attractive investment for discerning buyers.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,240,000
      6.5%
      $2,070,000
      7%
      $1,920,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,190,000
      Market price range: $975k - $4.45M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $2,685,000
      Current use
      WAREHOUSE, STORAGE
      $2,335,000
      Change: -13% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fort Walton Beach
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.671
    Latitude
    30.415
    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
    $11,166
    $129,102
    $671,712
    $800,814
    -
    $129,102
    $671,712
    $800,814

    Comparable in this City

    • Value Estimation
      $3,310,000
      49,384 SF

      715 Hollywood NW Blvd

      MANUFACTURING (LIGHT) • 49,384 SF
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      View Details
    • Value Estimation by Request
      3,191 SF

      26 Industrial NW St

      MANUFACTURING (LIGHT) • 3,191 SF
      26 Industrial NW St, Fort Walton Beach, FL 32548-4814
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    • Value Estimation by Request
      5,000 SF

      630 Lovejoy NW Rd

      MANUFACTURING (LIGHT) • 5,000 SF
      630 Lovejoy NW Rd, Fort Walton Beach, FL 32548-3832
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    • Value Estimation
      $2,320,000
      44,637 SF

      635 Anchors NW St

      MANUFACTURING (LIGHT) • 44,637 SF
      635 Anchors NW St, Fort Walton Beach, FL 32548-3803
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    • Value Estimation
      $505,000
      10,308 SF

      42 Tupelo SE Ave

      MANUFACTURING (LIGHT) • 10,308 SF
      42 Tupelo SE Ave, Fort Walton Beach, FL 32548-5435
      View Details
    • Value Estimation
      $2,315,000
      37,355 SF

      85 Hl NW Ave

      MANUFACTURING (LIGHT) • 37,355 SF
      85 Hl NW Ave, Fort Walton Beach, FL 32548-3846
      View Details

    Similar Nearby for Sale

    • $1,400,000

      Industrial/Manufacturing Facility in Prime Location

      Multi-use industrial facility near Hurlburt Field and Eglin AFB.
      91 NW Ready Ave, Fort Walton Beach, FL 32548
      View Details
    • $1,150,000
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      Fort Walton Beach Industrial Investment

      8,409 SF Industrial Property - Excellent Location
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    • $599,000
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      Warehouse and Loading Dock For Sale

      Warehouse with loading dock on one acre in Florida.
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      Prime Fort Walton Beach Industrial

      High-yield flex/warehouse investment. Fully occupied.
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    • $1,950,000
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      Fort Walton Beach Industrial Property

      Prime 35,594 SF warehouse, ideal investment.
      20 Ready Ave NW, Fort Walton Beach, FL 32548
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    • $725,000
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      Fort Walton Beach Industrial Complex

      7,200 SF Light Industrial; 6 Units
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    Similar Nearby for Lease

    • $7,000 /Mo
      5,550 SF

      Fort Walton Beach Flex Space

      Prime 5,550 SF Flex Space; Ideal R&D
      129 Eglin Pkwy SE, Fort Walton Beach, FL 32548
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    • $1,300 /Mo
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      Fort Walton Beach Industrial Space

      1300 SF Warehouse, NNN Lease
      119 Hollywood Blvd NW, Fort Walton Beach, FL 32548
      View Details
    • $12 SF/Yr
      13,975 SF

      Fort Walton Beach Industrial Space For Lease

      Large industrial space with high power & docks.
      161 Hill Ave NW, Fort Walton Beach, FL 32548
      View Details
    • $2,850 /Mo

      Spacious Warehouse Unit For Lease

      Double-sized warehouse with office, bathroom, and roll-up doors.
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      View Details
    • $118 SF/Yr
      2,241 SF

      Fort Walton Beach Flex Space

      Prime Industrial Warehouse, 2,241 sq ft.
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    • $23 SF/Yr
      11,820 SF

      Fort Walton Flex Building

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      View Details
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    20 Ready Ave NW
    Fort Walton Beach, FL 32548
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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