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Property profile & analytics
FOR SALE
Retail space
507 NW Mary Esther Cut Off Fort Walton Beach, FL 32548
Entity Owned
1-yr Hold
Free & Clear
Property ID
US18-3637736
For Sale
1 / 4
$1,250,000
507 NW Mary Esther Cut Off, Fort Walton Beach, FL 32548
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1979
Construction
STEEL FRAME
Total area
4,075 SF
Lot
0.27 ac (11,948 SF)
APN
09-2S-24-0000-0041-0020
UPID
US18-3637736
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
-
Blink Charging Station Electric Vehicle Charging Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$780k
CAP Approach
CAP
$900k
Comparable Approach
Comparable
$676k
Blend (final)
Blend
$690k
Owner & transaction history
Shree Infracon LLC · 1 yrs held
Shree Infracon LLC
since 2025
Last sale
$611,200
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$935,000
+35.7%
Commercial (general)
$745,000
+8.3%
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
$780,000
ML approach
$780,000
CAP Approach
CAP Return
Estimation
6%
$975,000
6.5%
$900,000
7%
$835,000
Alternative Use
Use
Estimation
RETAIL STORES
$690,000
Current use
AUTO REPAIR, GARAGE
$935,000
Change: +36% · Conversion: Difficult
COMMERCIAL (GENERAL)
$745,000
Change: +8% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$640,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$690k
Range $621k – $759k · ±10% · vs last sale $611k (Oct 13 2024)
Last sale anchor
$611k
Oct 13 2024
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
$169 / 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
$3,830
Tax year 2023
Assessed value
$309,367
Assessed 2023
Previous assessed
$304,773
+1.5% YoY
Effective rate
1.24%
On assessed value
Assessed land
$228,421
Assessed improvement
$80,946
Land market value
$228,421
Improvement market value
$80,946
Total market value
$309,367
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1979
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
7
Total area
4,075 SF
Lot
0.27 ac (11,948 SF)
APN
09-2S-24-0000-0041-0020
UPID
US18-3637736
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
RETAIL STORES Current
Est. value
$690,000
AUTO REPAIR, GARAGE
Est. value
$935,000
COMMERCIAL (GENERAL)
Est. value
$745,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$640,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1979
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
7
Lot
0.27 ac
Current owner
From public records · entity-resolved
Shree Infracon LLC
Entity
Free & Clear · 1 yrs held
Mailing address
PO BOX 16621, LUBBOCK, TX 79490-6621
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2025
$611,200
Shree Infracon LLC
1 Kicker Holdings INC
Warranty Deed
—
Apr 13, 2023
$500,000
Kicker Holdings INC
One Third LLC
Warranty Deed
$625,000 · Servisfirst Bank
Apr 13, 2023
—
One Third LLC
Two Thirds LLC
Correction Deed
related
—
Mar 5, 2018
—
Lmrk Propco LLC
—
Grant Deed
related
$80,000,000 · Wilmington Tr
Feb 23, 2017
—
One Third LLC
Two Thirds LLC
Quit Claim Deed
related
—
Dec 12, 2014
$350,000
Two Thirds LLC
Coastal Power Sports INC
Grant Deed
—
Nov 13, 2014
—
Coastal Powersports INC
Mitchell,curtis
Quit Claim Deed
related
—
Jul 9, 2010
—
Curtis Mitchell
Mitchell,amanda L
Quit Claim Deed
related
—
Jul 9, 2010
$325,000
Curtis Mitchell
Howland,greg L & Corinna W
Warranty Deed
$265,000 · Mr Convenience Food Store INC
Nov 14, 2006
—
Lamar Companies
Howland,greg
Grant Deed
related
—
Jul 28, 2004
$400,000
Greg L Howland
Mr Convenience Food Store INC
Warranty Deed
$350,000 · Mr Conviniece Food Store INC
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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