Property profile

251 Mary Esther Blvd Mary Esther, FL 32569

OFF-MARKET
Retail space
Property ID
US18-6024453
8,740 SF 0.71 ac lot Built 1984
Entity Owned 2-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

Market Place of Santa Rosa presents a prime retail investment opportunity in the thriving Mary Esther, Florida market. This single-story, 87,250 square foot shopping center, built in 1983, is situated on a one-acre lot at 251 Mary Esther Boulevard, directly across from the Santa Rosa Mall. The property boasts a highly visible location on a major thoroughfare, Mary Esther Boulevard, a key corridor in Fort Walton Beach, ensuring excellent exposure to a large volume of traffic. The center features convenient access with three points of ingress and egress. Currently, there is 13,384 square feet of vacant space available, divisible into units as small as 1,200 square feet and with a maximum contiguous space of 8,384 square feet. The property is zoned C-2, making it suitable for a variety of retail uses. The center is anchored by a grocery store, providing a strong draw for customers. This presents a unique chance to establish or expand a business within a well-established and successful shopping center, benefiting from the existing high traffic volume and strong neighborhood presence. The property's location and features make it an ideal choice for businesses seeking high visibility and convenient access in a bustling retail environment. The Okaloosa County location offers a strong demographic profile and a growing consumer base. This is a rare opportunity to secure retail space in a highly desirable location.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1984
Construction STEEL FRAME
Total area 8,740 SF
Lot 0.71 ac (31,080 SF)
APN 16-2S-24-0000-0007-0020
UPID US18-6024453

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
  • Grocery & Convenience Store Food Market
  • Hair Salon Nail Salon
  • Restaurant
  • Military Recruiting Office Air Force Base
  • Crypto Atm Atm

Location

251 Mary Esther Blvd Mary Esther, FL 32569-1678
Mary Esther metro Census 22900 CRESTVIEW-FORT WALTON BEACH-DESTIN, FL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$1.94M
Comparable Approach Comparable
by Request
Blend (final) Blend
$450k

Owner & transaction history

since 2023
7 recorded transactions
2023
$1.8M
2020
Price N/A
2017
Price N/A
2017
$1,100
2017
Price N/A
2017
Price N/A
2017
Price N/A

Zoning & alternative use

Top alternative use upside
Commercial (general) $2.2M +28.3%
Restaurant $1.9M +10.8%

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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