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

    227 Carol NW Ave Fort Walton Beach, FL 32548-4009

    • Specialty properties
    • 10,704 SF
    • 1.20 lot acres
    OFF-MARKET
    Last Sale
    Nov 19, 2021
    $3,500,000
    Value Estimations
    $3,825,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5590357
    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

    • Chipotle Mexican Grill / Mexican Restaurant / Caterer

    Property Details for 227 Carol NW Ave

    Year built
    1960
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.20 lot acres
    Property size
    10,704 SF
    Property type
    Specialty properties
    APN
    09-2S-24-1860-0007-0040
    APU
    092S24186000070040

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,105,000
      ML approach
      $4,205,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $6,025,000
      OFFICE BUILDING
      $2,550,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Walton Beach
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.6406
    Latitude
    30.4262
    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
    $13,533
    $735,392
    $235,203
    $970,595
    -
    $735,392
    $235,203
    $970,595

    Comparable in this City

    • Value Estimation by Request
      3,419 SF

      605 Oak NW St

      CREMATORIUM, MORTUARY • 3,419 SF
      605 Oak NW St, Fort Walton Beach, FL 32548-3834
      View Details
    • Value Estimation by Request
      1,176 SF

      55 Fry NE Rd

      CHARITABLE ORGANIZATION • 1,176 SF
      55 Fry NE Rd, Fort Walton Beach, FL 32548-5170
      View Details
    • Value Estimation by Request
      1,911 SF

      100 Buck NE Dr

      CHARITABLE ORGANIZATION • 1,911 SF
      100 Buck NE Dr, Fort Walton Beach, FL 32548-5056
      View Details
    • Value Estimation
      $635,000
      3,264 SF

      68 Beal SW Pkwy

      VETERINARY, ANIMAL HOSPITAL • 3,264 SF
      68 Beal SW Pkwy, Fort Walton Beach, FL 32548-5331
      View Details
    • Value Estimation by Request
      889 SF

      11 Carson Dr

      CREMATORIUM, MORTUARY • 889 SF
      11 Carson Dr, Ft Walton Beach, FL 32548
      View Details
    • Value Estimation
      $590,000
      11,790 SF

      105 Hollywood NW Blvd

      CHARITABLE ORGANIZATION • 11,790 SF
      105 Hollywood NW Blvd, Fort Walton Beach, FL 32548-4723
      View Details

    Similar Nearby for Sale

    • $1,222,900

      Waterfront New Construction Townhome

      New construction townhome with water views in Fort Walton Beach.
      286 Kidd St, Fort Walton Beach, FL 32548
      View Details
    • $169,999

      Fort Walton Beach Townhome Opportunity

      Investment opportunity near schools, shopping, and Eglin AFB.
      618 Gap Creek Dr, Fort Walton Beach, FL 32548
      View Details
    • $1,050,000

      Waterfront Home with Sound Views

      Waterfront home on Okaloosa Island with Intracoastal Waterway access.
      424 Caviar Dr, Fort Walton Beach, FL 32548
      View Details
    • $199,900

      Fort Walton Beach Townhome

      Charming 2-bedroom townhome near beach, shopping, and military bases.
      419 Hollywood Blvd E, Fort Walton Beach, FL 32548
      View Details
    • $565,000

      Waterfront Townhouse Near Military Bases

      Townhouse near Cinco Bayou, close to Eglin and Hurlburt.
      274 Kidd St, Fort Walton Beach, FL 32548
      View Details
    • $750,000
      4,380 SF

      Fort Walton Beach Commercial Property

      Versatile 3,400 SF Office/Retail Space
      206 Jonquil Ave NW, Fort Walton Beach, FL 32548
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      5,312 SF

      Versatile Commercial Space For Rent

      Adaptable 5312 sq ft space suitable for office or retail.
      348 Miracle Strip Pkwy SW, Fort Walton Beach, FL 32548
      View Details
    • $20 SF/Yr
      3,271 SF

      Fort Walton Beach Office Building

      3,271 SF Office, High Visibility
      355 Beal Pkwy, Fort Walton Beach, FL 32548
      View Details
    • $18 SF/Yr
      1,300 SF

      Fort Walton Beach Office Suite

      1300 SF Office, High-End Location, NNN Lease
      403 Hollywood Blvd NW, Fort Walton Beach, FL 32548
      View Details
    • $20 SF/Yr
      3,271 SF

      Fort Walton Beach Office Space For Lease

      High-visibility medical/professional office, 3,271 sq ft.
      355 Beal Parkway, Fort Walton Beach, FL 32548
      View Details
    • $17 SF/Yr
      8,210 SF

      Uptown Station Retail & Office Space

      8,210 SF prime space in thriving Fort Walton Beach.
      99 Eglin Pkwy, Fort Walton Beach, FL 32548
      View Details
    • $3,884 /Mo
      14,584 SF

      Furnished Office Suite in Fort Walton

      Professionally managed, fully furnished office suite in a mixed-use building.
      403 NW Hollywood Blvd, Fort Walton Beach, FL 32548
      View Details

    Property Visit Statistics

    • Visits by month
      13.7k
    • Visitors by month
      8.4k
    • Avg Time on site
      14 min
    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.
    227 Carol NW Ave
    Fort Walton Beach, FL 32548-4009
    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.