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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    333 Miracle Strip SW Pkwy Fort Walton Beach, FL 32548-5209

    • Motels
    • 17,956 SF
    • 0.69 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5981083
    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

    • Super 8 by Wyndham Ft Walton Beach / Hotel & Motel
    • Poorita Singh / Physician

    Property Details for 333 Miracle Strip SW Pkwy

    Year built
    1985
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.69 lot acres
    Property size
    17,956 SF
    Property type
    Motels
    APN
    15-2S-24-0000-0011-003B
    APU
    152S2400000011003B

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Walton Beach
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.6354
    Latitude
    30.4074
    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
    $21,539
    $455,821
    $1,089,010
    $1,544,831
    -
    $455,821
    $1,089,010
    $1,544,831

    Comparable in this City

    • Value Estimation by Request
      1,318 SF

      314 Miracle Strip SW Pkwy

      MOTEL • 1,318 SF
      314 Miracle Strip SW Pkwy, Fort Walton Beach, FL 32548-5220
      View Details
    • Value Estimation
      $10,705,000
      42,278 SF

      522 Mary Esther Cut Off NW

      MOTEL • 42,278 SF
      522 Mary Esther Cut Off NW, Fort Walton Beach, FL 32548-4025
      View Details
    • Value Estimation
      $665,000
      26,014 SF

      349 Miracle Strip SW Pkwy

      MOTEL • 26,014 SF
      349 Miracle Strip SW Pkwy, Fort Walton Beach, FL 32548-5210
      View Details
    • Value Estimation
      $1,075,000
      17,984 SF

      2 Miracle Strip SE Pkwy

      MOTEL • 17,984 SF
      2 Miracle Strip SE Pkwy, Fort Walton Beach, FL 32548-5816
      View Details
    • Value Estimation
      $695,000
      24,218 SF

      135 Miracle Strip SW Pkwy

      MOTEL • 24,218 SF
      135 Miracle Strip SW Pkwy, Fort Walton Beach, FL 32548-6614
      View Details
    • Value Estimation
      $940,000
      39,612 SF

      207 Miracle Strip SW Pkwy

      MOTEL • 39,612 SF
      207 Miracle Strip SW Pkwy, Fort Walton Beach, FL 32548-6616
      View Details

    Similar Nearby for Sale

    • $709,900
      1,089 SF

      Luxury Gulf Front Resort Residence

      Premium 2-bedroom condo with Gulf views and resort amenities.
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    • $899,000
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    • $875,000
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      Waterfront Condo with Boat Slip

      Luxury condo in Fort Walton Beach with boat slip and lift.
      124 SW Miracle Strip Pkwy, Fort Walton Beach, FL 32548
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    • $229,900

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      Two-bedroom, two-and-a-half bath townhome with fenced backyard and garage.
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    Similar Nearby for Lease

    • $15 SF/Yr
      2,850 SF

      Fort Walton Beach Office Space

      2,850 SF Office, Stunning Views
      348 Miracle Strip Pkwy, Fort Walton Beach, FL 32548
      View Details
    • $7,000 /Mo
      5,550 SF

      Fort Walton Beach Flex Space

      Prime 5,550 SF Flex Space; Ideal R&D
      129 Eglin Pkwy SE, Fort Walton Beach, FL 32548
      View Details
    • $14 SF/Yr
      2,750 SF

      Uptown Station Retail Space - Suite 5A

      Prime Fort Walton Beach retail/office space.
      99 Eglin Pkwy, Fort Walton Beach, FL 32548
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    • $29 SF/Yr
      1,041 SF

      Uptown Station Retail Space - Suite 114

      High-traffic retail/office space in prime location.
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    • $18 SF/Yr
      1,300 SF

      Fort Walton Beach Office Suite 106

      Modern 1,300 SF office, prime location
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    • $525 /Mo
      6,616 SF

      Downtown Fort Walton Beach Office

      Executive office space in Landmark Office Center for rent.
      217 SE Miracle Strip Pkwy, Fort Walton Beach, FL 32548
      View Details
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    Fort Walton Beach, FL 32548-5209
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    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
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