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Property profile & analytics
OFF-MARKET
Estimated value
$7,440,000
Community centers
251 Miracle Strip SE Pkwy Fort Walton Beach, FL 32548-5853
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-4583187
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1987
Construction
STEEL FRAME
Total area
39,921 SF
Lot
7.03 ac (306,226 SF)
APN
24-2S-24-0000-0125-0000
UPID
US18-4583187
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
-
Publix Pharmacy at Shoppes at Paradise Pointe Pharmacy
-
higi Physician
-
Publix Super Market at Shoppes at Paradise Pointe Specialty Food Shop Supermarket
-
Amerigas Propane Exchange Propane Supplier
-
Primo Water Exchange Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.17M
Blend (final)
Blend
$7.44M
Owner & transaction history
State Of Florida Department Of Tran · 4 yrs held
State Of Florida Department Of Tran
since 2021
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$9.2M
+46.6%
Restaurant
$9.1M
+45.9%
Commercial (general)
$7.3M
+17.0%
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
NEIGHBORHOOD: SHOPPING CENTER
$6,250,000
Current use
AUTO REPAIR, GARAGE
$9,160,000
Change: +47% · Conversion: Difficult
RESTAURANT
$9,115,000
Change: +46% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,305,000
Change: +17% · Conversion: Easy
RETAIL STORES
$6,745,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$7.44M
Range $6.70M – $8.18M · ±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
$186 / 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
$79,689
Tax year 2023
Assessed value
$5,715,415
Assessed 2023
Previous assessed
$5,495,065
+4.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$2,037,873
Assessed improvement
$3,677,542
Land market value
$2,037,873
Improvement market value
$3,677,542
Total market value
$5,715,415
Applied tax rate
4.0000
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1987
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
4
Stories
1
Rooms
35
Total area
39,921 SF
Lot
7.03 ac (306,226 SF)
APN
24-2S-24-0000-0125-0000
UPID
US18-4583187
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$6.3M
AUTO REPAIR, GARAGE
Est. value
$9.2M
RESTAURANT
Est. value
$9.1M
COMMERCIAL (GENERAL)
Est. value
$7.3M
RETAIL STORES
Est. value
$6.7M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
RESTAURANT
COMMERCIAL (GENERAL)
RETAIL STORES
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
1987
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
4
Rooms
35
Lot
7.03 ac
Current owner
From public records · entity-resolved
State Of Florida Department Of Tran
Entity
Mailing address
3300 ENTERPRISE PKWY, BEACHWOOD, OH 44122-7200
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 8, 2021
—
State Of Florida Department Of Tran
Paradise Pointe Liquors INC
Quit Claim Deed
related
—
Jul 14, 2017
—
Ddrm Shoppes At Paradise Pointe LLC
—
Deed
related
$213,170,000 · Morgan Stanley Bank NA
Jul 3, 2007
—
Ddrm Shoppes Of Paradise Pointe L
Inland Southeast Paradise Pt L
Grant Deed
$885,000,000 · Wachovia Bank NA
Jun 4, 2003
$11,673,000
Inland Se Paradise Pointe LLC
Shoppes At Paradise Pointe
Grant Deed
—
Jun 6, 2000
$3,750,000
Shoppes At Paradise Pointe Ltd
Russell Development Corp
Grant Deed
—
—
—
Ddrm Shoppes At Paradise Point
—
Deed Of Trust
related
$213,170,000 · Morgan Stanley Bk
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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