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Property profile & analytics
OFF-MARKET
Estimated value
$9,650,000
Warehouses
200 Irwin NE Ave, Fort Walton Beach, FL 32548-4435
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-3293637
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1971
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
121,474 SF
Lot
10.09 ac (439,520 SF)
APN
12-2S-24-0460-0013-0010
UPID
US18-3293637
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
-
Sears Appliance Repair Hardware & Home Improvement HVAC Service
-
Trailer Hitches at U-Haul Auto Parts Store
-
U-Haul Moving & Storage of Fort Walton Beach-Destin Storage Facility
-
Truck Sales at U-Haul Car Dealership
-
U-Box at U-Haul Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.85M
Blend (final)
Blend
$9.65M
Owner & transaction history
Arec 34 LLC · 7 yrs held
Arec 34 LLC
since 2019
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$12.5M
+14.9%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$10,915,000
Current use
INDUSTRIAL (GENERAL)
$12,545,000
Change: +15% · Conversion: Easy
Blend value · Realmo final
$9.65M
Range $8.69M – $10.62M · ±10%
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
$79 / 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
$94,631
Tax year 2023
Assessed value
$6,491,502
Assessed 2023
Previous assessed
$5,964,713
+8.8% YoY
Effective rate
1.46%
On assessed value
Assessed land
$1,890,525
Assessed improvement
$4,600,977
Land market value
$1,890,525
Improvement market value
$4,600,977
Total market value
$6,491,502
Applied tax rate
2.0000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1971
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
OTHER
Buildings
2
Stories
1
Rooms
5
Total area
121,474 SF
Lot
10.09 ac (439,520 SF)
APN
12-2S-24-0460-0013-0010
UPID
US18-3293637
Jurisdiction
OKALOOSA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$10.9M
INDUSTRIAL (GENERAL)
Est. value
$12.5M
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
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
1971
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Rooms
5
Lot
10.09 ac
Current owner
From public records · entity-resolved
Arec 34 LLC
Entity
Mailing address
2727 N CENTRAL AVE, PHOENIX, AZ 85004-1120
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 23, 2019
$4,400,000
Arec 34 LLC
K Mart Corp
Grant Deed
—
Apr 7, 2017
—
Kmart Corp
—
Deed
related
$1,800,000 · Citibank
Jan 9, 2017
—
Kmart Corp
—
Grant Deed
related
$6,000,000 · Private Individual
Oct 12, 2006
$4,200,000
Kmart Corp
American R/e Holdings
Grant Deed
—
—
—
Kmart Corp
—
Deed Of Trust
related
$1,800,000 · Citibank
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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