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Property profile & analytics
FOR LEASE
Strip malls

550 Mary Esther Cut Off NW Fort Walton Beach, FL 32548

25,185 SF 1.19 ac lot Built 1986
Entity Owned 2-yr Hold ~ Est. High Equity
Property ID
US18-4894453
Property summary
AI-generated overview

This exceptional retail space, located within the bustling Longhorn Plaza at 550 Mary Esther Cut Off NW, Fort Walton Beach, FL 32548, offers 1,200 to 2,160 square feet of versatile commercial space in a high-traffic area. Situated on Mary Esther Cut Off, a major retail corridor boasting 26,000 cars per day, this property benefits from excellent visibility and accessibility. The strategic location is less than two miles from Hurlbert Field, a significant employer of 25,000 military and civilian personnel. Furthermore, the proximity to Eglin Air Force Base, Florida's largest military base serving over 71,000 personnel, and the Commerce and Technology Park (CTP), a 320-acre office/industrial park employing 2,500, ensures a robust and diverse customer base. The single-story building totals 25,158 square feet and is part of a thriving retail center anchored by established businesses such as Longhorn Steakhouse, UPS, Sally Beauty, and Jin Jin. This presents a unique opportunity for businesses seeking high visibility and a strong customer base in a prime Fort Walton Beach location. The minimum divisible space is 1,200 square feet. This property is ideal for a variety of retail uses.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1986
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 25,185 SF
Lot 1.19 ac (51,836 SF)
APN 09-2S-24-1860-0016-005B
UPID US18-4894453
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
  • Weight Watchers Weight Loss Service
  • Istanbulfoodlovers Restaurant
  • Perfect Nails Nail Salon
  • Kiku Hana Japanese Restaurant Restaurant
  • The Crack of Dawn Cafe Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$5.37M
CAP Approach CAP
by Request
Comparable Approach Comparable
$3.67M
Blend (final) Blend
$4.59M
Owner & transaction history
Em Real Estate Development LLC · 2 yrs held
Em Real Estate Development LLC
since 2023
Last sale
$3.9M
4 recorded transactions
2023
$3.9M
2017
$2.5M
1969
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $5.8M +46.6%
Restaurant $5.8M +45.9%
Commercial (general) $4.6M +17.0%
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More about this property
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