Property profile

215 Miracle Strip SW Pkwy Fort Walton Beach, FL 32548

OFF-MARKET
Turn key restaurants
Property ID
US18-3903259
4,767 SF 0.17 ac lot Built 1945
Entity Owned 1-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 4,800 square foot retail building, located at 215 Miracle Strip Pkwy SE in Fort Walton Beach, Florida (zip code 32548), presents a lucrative investment opportunity. Situated in the heart of historic downtown, just before the Brooks Bridge leading to Okaloosa Island, this property boasts unparalleled visibility and accessibility. Completely renovated in 2002, the building currently operates as a restaurant and benefits from its adjacency to a city parking lot, ensuring ample parking for patrons. The high traffic count in this area guarantees significant foot traffic and potential customer base. The property features a newly signed five-year triple net lease with a long-standing restaurant tenant, boasting over 15 years of successful operation. This provides immediate and consistent income generation for the investor. This makes it an ideal investment for those seeking a stable, high-return property in a prime location. The asking price for this exceptional property is $1,450,000. The property is located in Okaloosa County and offers a fantastic opportunity for continued success in the thriving Fort Walton Beach market. This turnkey operation requires minimal effort to maintain its current high level of profitability.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1945
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 4,767 SF
Lot 0.17 ac (7,500 SF)
APN 24-2S-24-0300-000A-0040
UPID US18-3903259

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
  • Restaurant

Location

215 Miracle Strip SW Pkwy Fort Walton Beach, FL 32548
Fort Walton Beach metro Census 22700 CRESTVIEW-FORT WALTON BEACH-DESTIN, FL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$1.24M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.28M

Owner & transaction history

since 2025
Last sale
$1.2M
3 recorded transactions
2025
$1.2M
2003
Price N/A
1999
$130,000

Zoning & alternative use

Top alternative use upside
Auto repair, garage $1.1M +0.5%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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