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Property profile & analytics
OFF-MARKET
Estimated value
$2,185,000
Strip malls
350 Racetrack NW Rd Fort Walton Beach, FL 32547-1554
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-4108886
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1984
Construction
STEEL FRAME
Total area
12,058 SF
Lot
1.28 ac (55,950 SF)
APN
34-1S-24-0000-0060-0000
UPID
US18-4108886
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
-
Amanda M. Hill, DC Alternative Medicine Practice
-
Thomas J Manski Pa Physician
-
Dr. Jennifer Goette Physician
-
M & M Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.52M
Blend (final)
Blend
$2.19M
Owner & transaction history
J2 Development LLC · 7 yrs held
J2 Development LLC
since 2019
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.8M
+46.6%
Restaurant
$2.8M
+45.9%
Retail stores
$2.6M
+38.2%
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
$1,885,000
Current use
AUTO REPAIR, GARAGE
$2,765,000
Change: +47% · Conversion: Difficult
RESTAURANT
$2,755,000
Change: +46% · Conversion: Difficult
RETAIL STORES
$2,610,000
Change: +38% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,350,000
Change: +25% · Conversion: Easy
Blend value · Realmo final
$2.19M
Range $1.97M – $2.40M · ±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
$181 / 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
$18,353
Tax year 2023
Assessed value
$1,667,693
Assessed 2023
Previous assessed
$1,586,741
+5.1% YoY
Effective rate
1.10%
On assessed value
Assessed land
$686,898
Assessed improvement
$980,795
Land market value
$686,898
Improvement market value
$980,795
Total market value
$1,667,693
Applied tax rate
12.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1984
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Rooms
32
Total area
12,058 SF
Lot
1.28 ac (55,950 SF)
APN
34-1S-24-0000-0060-0000
UPID
US18-4108886
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
$1.9M
AUTO REPAIR, GARAGE
Est. value
$2.8M
RESTAURANT
Est. value
$2.8M
RETAIL STORES
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.4M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
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
1984
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Rooms
32
Lot
1.28 ac
Current owner
From public records · entity-resolved
J2 Development LLC
Entity
Mailing address
119 HOLLYWOOD BLVD NW STE #206, FORT WALTON BEACH, FL 32548-4758
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 9, 2021
—
J2 Development LLC
—
Deed
related
$1,420,236 · Smartbank
Dec 10, 2019
—
J2 Dev LLC
—
Deed
related
$237,500 · Beach Cmnty Bk
Mar 4, 2019
$1,150,000
J2 Development LLC
Racetrack Professional Center INC
Warranty Deed
$1,127,500 · Beach Community Bank
Sep 11, 2003
$1,500,000
Racetrack Professional Center
Morland,douglas G & Paula
Grant Deed
$1,800,000 · Beach Community Bank
Jul 5, 2000
$827,000
Douglas G Moreland
Collateral Mortgage Ltd
Grant Deed
$700,000 · Southtrust Bank NA
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.
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