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Property profile & analytics
OFF-MARKET
Estimated value
$1,255,000
Community centers
409 Racetrack NE Rd Fort Walton Beach, FL 32547-2503
Entity Owned
25-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-2765988
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,300 SF
Lot
4.96 ac (216,000 SF)
APN
01-2S-24-1120-0009-0010
UPID
US18-2765988
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
-
CareerSource Okaloosa Walton Business Service Center Employment Agency
-
Jobsplus One-Stop Career Center Business Service Center Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.48M
Blend (final)
Blend
$1.26M
Owner & transaction history
City Plaza LLC · 25 yrs held
City Plaza LLC
since 2001
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+46.6%
Restaurant
$1.4M
+45.9%
Retail stores
$1.4M
+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
$985,000
Current use
AUTO REPAIR, GARAGE
$1,445,000
Change: +47% · Conversion: Difficult
RESTAURANT
$1,440,000
Change: +46% · Conversion: Difficult
RETAIL STORES
$1,365,000
Change: +38% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,230,000
Change: +25% · Conversion: Easy
Blend value · Realmo final
$1.26M
Range $1.13M – $1.38M · ±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
$199 / 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
$40,790
Tax year 2023
Assessed value
$3,294,742
Assessed 2023
Previous assessed
$3,108,951
+6.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$1,387,588
Assessed improvement
$1,907,154
Land market value
$1,387,588
Improvement market value
$1,907,154
Total market value
$3,294,742
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
OTHER
Buildings
2
Stories
1
Units
3
Rooms
18
Total area
6,300 SF
Lot
4.96 ac (216,000 SF)
APN
01-2S-24-1120-0009-0010
UPID
US18-2765988
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
$985,000
AUTO REPAIR, GARAGE
Est. value
$1.4M
RESTAURANT
Est. value
$1.4M
RETAIL STORES
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.2M
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
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
3
Rooms
18
Lot
4.96 ac
Current owner
From public records · entity-resolved
City Plaza LLC
Entity
Mailing address
174 COUNTRY CLB RD, SHALIMAR, FL 32579-1634
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2020
—
City Plaza LLC
—
Deed
related
$3,459,805 · Midsouth Bk
Nov 3, 2015
—
City Plaza LLC
—
Deed Of Trust
related
$2,715,000 · Mid South Bk
Jun 18, 2001
$1,650,000
City Plaza LLC
Irt Property Co
Grant Deed
$1,500,000 · Southtrust Bank NA
—
—
City Plaza LLC
—
Deed Of Trust
related
—
—
—
City Plaza LLC
—
Loan Modification
related
$2,715,000 · Mid South Bk
—
—
City Plazae LLC
—
Loan Modification
related
—
—
—
City Plaza LLC
—
Loan Modification
related
$3,459,805 · Midsouth 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.
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