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

    401 Mary Esther Blvd Mary Esther, FL 32569

    • Retail space
    • 5,910 SF
    • 0.57 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Last Sale
    Mar 10, 2020
    $1,250,000
    Value Estimations
    $1,365,000
    Cap Rate Potential
    5.7%
    Retail space
    Location Intelligence
    Property ID
    US18-1742205
    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

    • Greenpath Debt Counseling / Law Firm / Financial Advisor
    • Cash America Pawn / Discount Store / (Bike/Boat/Book/etc) Store
    • GameStop / Arcade & Gaming Center / Electronics & Wireless Store
    • Xi Beauty & Hair Supply / (Bike/Boat/Book/etc) Store / Cosmetic Store
    • Re-Sale Financial LLC / Business To Business Service / Courier Service

    Property Details for 401 Mary Esther Blvd

    Year built
    1980
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.57 lot acres
    Property size
    5,910 SF
    Property type
    Retail space
    APN
    16-2S-24-0291-0007-012F
    APU
    162S2402910007012F

    Description

    This exceptional retail opportunity presents approximately 6,000 square feet of space available for lease in a vibrant Okaloosa County location. Situated at the signalized intersection of Mary Esther Boulevard and Bryn Athyn Road, this property benefits from high visibility and significant traffic, boasting an impressive 24,500 AADT. The building, constructed in 1998, previously housed a Cash America Pawn shop and features two convenient roll-up doors, ideal for various retail operations. Ample parking is available for customers and employees. This single-tenant space is part of a strip center, sharing the location with established businesses such as Game Stop and a Cell Phone Repair shop, creating a synergistic retail environment. The property sits on a 0.76-acre lot and is zoned C-2, offering flexibility for a range of retail uses. The property's location at a busy intersection ensures maximum exposure to potential customers, making it an ideal location for businesses seeking high foot traffic and visibility. The parcel number is 16-2S-24-0291-0007-012F. This is a rare opportunity to secure a well-located, spacious retail property in a thriving commercial area. Don't miss out on this chance to establish your business in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,490,000
      ML approach
      $1,530,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,415,000
      6.5%
      $1,305,000
      7%
      $1,215,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,734,000
      Market price range: $498k - $1.73M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,135,000
      Current use
      COMMERCIAL (GENERAL)
      $1,455,000
      Change: +28% Conversion: Easy
      RESTAURANT
      $1,255,000
      Change: +11% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $925,000
      Change: -18% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $910,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mary Esther
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.6529
    Latitude
    30.4179
    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
    $10,255
    $467,976
    $246,298
    $714,274
    -
    $467,976
    $246,298
    $714,274

    Comparable in this City

    • Value Estimation by Request
      4,332 SF

      1350 Hwy 98

      RETAIL STORES (PERSONAL SERVICES) • 4,332 SF
      1350 Hwy 98, Mary Esther, FL 32569-1543
      View Details
    • Value Estimation
      $1,605,000
      13,260 SF

      2080 Hwy 98

      RETAIL STORES (PERSONAL SERVICES) • 13,260 SF
      2080 Hwy 98, Mary Esther, FL 32569-2264
      View Details
    • Value Estimation
      $1,095,000
      8,300 SF

      124 Mary Esther Blvd

      RETAIL STORES (PERSONAL SERVICES) • 8,300 SF
      124 Mary Esther Blvd, Mary Esther, FL 32569-1920
      View Details
    • Value Estimation
      $740,000
      5,154 SF

      329 Mary Esther Blvd

      RETAIL STORES (PERSONAL SERVICES) • 5,154 SF
      329 Mary Esther Blvd, Mary Esther, FL 32569-1681
      View Details
    • Value Estimation
      $655,000
      3,860 SF

      425 Mary Esther Blvd

      RETAIL STORES (PERSONAL SERVICES) • 3,860 SF
      425 Mary Esther Blvd, Mary Esther, FL 32569-1605
      View Details
    • Value Estimation
      $660,000
      4,326 SF

      90 Mary Esther Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,326 SF
      90 Mary Esther Blvd, Mary Esther, FL 32569-1951
      View Details

    Similar Nearby for Sale

    • $695,000

      Prime Retail Opportunity Near Hurlburt

      Commercial property with high traffic, ideal for retail or entertainment.
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    • $650,000
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      Prime .83-acre redevelopment site, high traffic.
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      Profitable Car Wash Business Opportunity

      High-income car wash business for sale on high-traffic street.
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    • $1,395,000

      Italian Pizza Restaurant For Sale

      Thriving Italian pizza restaurant with real estate and all FFE.
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    Similar Nearby for Lease

    • $2,750 /Mo
      1,152 SF

      Warehouse/Office Space For Rent

      Warehouse/office space with rollup doors and parking.
      110 Mary Esther Blvd, Mary Esther, FL 32569
      View Details
    • $6,450 /Mo
      3,818 SF

      Retail End Unit Available

      Retail end unit available in a highly visible outparcel.
      330 Mary Esther Blvd, Mary Esther, FL 32569
      View Details
    • $18 SF/Yr
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      Retail Space on Mary Esther

      Retail space available in a high-traffic location.
      401 Mary Esther Blvd, Mary Esther, FL 32569
      View Details
    • $18 SF/Yr
      6,000 SF

      Prime Mary Esther Retail Space

      High-traffic location, 6,000 SF available.
      401 Mary Esther Blvd, Mary Esther, FL 32569
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    • $19 SF/Yr
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      Prime Office Space, Fort Walton Beach

      Stunning Sound Views, 2850 SF Office
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    • $9,000 /Mo
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      Renovated Office and Flex Space

      9,000 SF flex space with renovated office component.
      481 Mary Esther Blvd, Mary Esther, FL 32569
      View Details
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    Mary Esther, FL 32569
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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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