Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    212 Racetrack NW Rd Fort Walton Beach, FL 32547-3831

    • Specialty properties
    • 5,676 SF
    • 1.21 lot acres
    OFF-MARKET
    Last Sale
    Apr 17, 2024
    $1,900,000
    Value Estimations
    $1,405,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5404210
    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

    • Dr. Sylvia M. Smith / Alternative Medicine Practice

    Property Details for 212 Racetrack NW Rd

    Year built
    1993
    Construction
    STEEL FRAME
    Lot size
    1.21 lot acres
    Property size
    5,676 SF
    Property type
    Specialty properties
    APN
    35-1S-24-0000-0044-0010
    APU
    351S24000000440010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,170,000
      ML approach
      $1,145,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,477,000
      Market price range: $811k - $1.70M

    • Alternative Use

      Use
      Estimation
      VETERINARY, ANIMAL HOSPITAL
      $1,170,000
      Current use
      AUTO REPAIR, GARAGE
      $1,300,000
      Change: +11% Conversion: Difficult
      RESTAURANT
      $1,295,000
      Change: +11% Conversion: Difficult
      RETAIL STORES
      $1,230,000
      Change: +5% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,105,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Walton Beach
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.6241
    Latitude
    30.4499
    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
    $10,070
    $449,681
    $363,740
    $813,421
    -
    $449,681
    $363,740
    $813,421

    Comparable in this City

    • Value Estimation by Request
      1,200 SF

      1014 Mar Walt Dr, Unit A

      VETERINARY, ANIMAL HOSPITAL • 1,200 SF
      1014 Mar Walt Dr, Fort Walton Beach, FL 32547-6645
      View Details
    • Value Estimation by Request
      1,480 SF

      1 Woodham Ave

      VETERINARY, ANIMAL HOSPITAL • 1,480 SF
      1 Woodham Ave, Fort Walton Beach, FL 32547-2720
      View Details
    • Value Estimation by Request
      2,156 SF

      207 Pelham Rd

      VETERINARY, ANIMAL HOSPITAL • 2,156 SF
      207 Pelham Rd, Fort Walton Beach, FL 32547-3604
      View Details
    • Value Estimation by Request
      6,858 SF

      Racetrack Rd

      FUNERAL HOME • 6,858 SF
      Racetrack Rd, Ft Walton Beach, FL 32547
      View Details
    • Value Estimation by Request
      3,548 SF

      322 Racetrack NE Rd

      VETERINARY, ANIMAL HOSPITAL • 3,548 SF
      322 Racetrack NE Rd, Fort Walton Beach, FL 32547-2546
      View Details
    • Value Estimation by Request
      2,633 SF

      428 Racetrack NE Rd

      CHARITABLE ORGANIZATION • 2,633 SF
      428 Racetrack NE Rd, Fort Walton Beach, FL 32547-2547
      View Details

    Similar Nearby for Sale

    • $185,000

      Well-Maintained Townhome with Fenced Backyard

      Comfortable 2-bedroom townhome with no HOA fees and garden.
      904 Tokalon Ct, Fort Walton Beach, FL 32547
      View Details
    • $799,000

      Commercial Property Near Hurlburt Field

      Commercial property with three buildings near Hurlburt Field back gate.
      314 Carmel Dr, Fort Walton Beach, FL 32547
      View Details
    • $210,000

      Updated Townhome Near Hurlburt Field

      Well-maintained 2-bedroom townhome with updated kitchen and community pool.
      225 Carmel Dr, Fort Walton Beach, FL 32547
      View Details
    • $409,000

      Fort Walton Beach Property

      Property for sale in Fort Walton Beach, Florida.
      209 Hawthorne Cir, Fort Walton Beach, FL 32547
      View Details
    • $1,300,000

      Prime Real Estate on Racetrack Road

      Nearly 1 acre with road frontage and development possibilities.
      120 NE Racetrack Rd, Fort Walton Beach, FL 32547
      View Details
    • $730,000

      Fort Walton Beach Flex Building

      7,325 SF flex building with three rental spaces for sale.
      817 Navy St, Fort Walton Beach, FL 32547
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      62,504 SF

      Beltway Plaza Restaurant Space

      High-traffic, 1,540 sq ft restaurant space.
      109 Racetrack Rd, Fort Walton Beach, FL 32547
      View Details
    • Contact for pricing
      66,211 SF

      Fort Walton Beach Commercial Land

      1.52 Acres, Prime Location, C-3 Zoning
      710 Eglin Pkwy, Fort Walton Beach, FL 32547
      View Details
    • $375 /Mo

      Retail Space in Great Location

      Easily accessible retail space in a prime Fort Walton Beach location.
      700 Beal Pkwy, Fort Walton Beach, FL 32547
      View Details
    • $5,000 /Mo

      Warehouse with Loading Dock

      7168 SF warehouse near Hurlburt and Eglin AFB.
      1290 Beverlu St, Fort Walton Beach, FL 32547
      View Details
    • $20 SF/Yr
      9,000 SF

      Versatile Industrial Facility for Lease

      9,000 SF industrial facility on 1.5 acres for lease.
      309 Green Acres Rd, Fort Walton Beach, FL 32547
      View Details
    • $16 SF/Yr
      5,576 SF

      Industrial Space For Lease

      Industrial property available for lease in Fort Walton Beach, FL.
      303 Lewis St, Fort Walton Beach, FL 32547
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    212 Racetrack NW Rd
    Fort Walton Beach, FL 32547-3831
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.