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

    573 Santa Rosa Blvd Fort Walton Beach, FL 32548-6912

    • Motels
    • 24,480 SF
    • 2.72 lot acres
    OFF-MARKET
    Value Estimations
    $1,830,000
    Show details
    Cap Rate Potential
    5.2%
    Motels
    Location Intelligence
    Property ID
    US18-5601570
    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

    • Asiago Events & Catering / Wedding Service
    • Slow Wake Coffee and Donuts / Restaurant
    • Manatee's Tiki Bar / Restaurant
    • Weddings at the Wyndham / Wedding Service
    • Wyndham Garden Fort Walton Beach - Destin Hotel, FL / Hotel & Motel

    Property Details for 573 Santa Rosa Blvd

    Year built
    1981
    Construction
    CONCRETE
    Lot size
    2.72 lot acres
    Property size
    24,480 SF
    Property type
    Motels
    APN
    00-2S-24-2185-0005-0263
    APU
    002S24218500050263

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,825,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,575,000
      6.5%
      $1,450,000
      7%
      $1,350,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,831,000
      Market price range: $548k - $1.83M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $2,760,000
      RETAIL STORES
      $2,305,000
      AUTO REPAIR, GARAGE
      $1,635,000
      WAREHOUSE, STORAGE
      $1,130,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Walton Beach
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.6147
    Latitude
    30.397
    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
    $262,626
    $6,928,785
    $13,097,018
    $20,025,803
    -
    $6,928,785
    $13,097,018
    $20,025,803

    Comparable in this City

    • Value Estimation
      $1,075,000
      17,984 SF

      2 Miracle Strip SE Pkwy

      MOTEL • 17,984 SF
      2 Miracle Strip SE Pkwy, Fort Walton Beach, FL 32548-5816
      View Details
    • Value Estimation
      $695,000
      24,218 SF

      135 Miracle Strip SW Pkwy

      MOTEL • 24,218 SF
      135 Miracle Strip SW Pkwy, Fort Walton Beach, FL 32548-6614
      View Details
    • Value Estimation by Request
      1,318 SF

      314 Miracle Strip SW Pkwy

      MOTEL • 1,318 SF
      314 Miracle Strip SW Pkwy, Fort Walton Beach, FL 32548-5220
      View Details
    • Value Estimation
      $10,705,000
      42,278 SF

      522 Mary Esther Cut Off NW

      MOTEL • 42,278 SF
      522 Mary Esther Cut Off NW, Fort Walton Beach, FL 32548-4025
      View Details
    • Value Estimation
      $665,000
      26,014 SF

      349 Miracle Strip SW Pkwy

      MOTEL • 26,014 SF
      349 Miracle Strip SW Pkwy, Fort Walton Beach, FL 32548-5210
      View Details
    • Value Estimation
      $1,080,000
      45,618 SF

      407 Miracle Strip SW Pkwy

      MOTEL • 45,618 SF
      407 Miracle Strip SW Pkwy, Fort Walton Beach, FL 32548-4501
      View Details

    Similar Nearby for Sale

    • $709,900
      1,089 SF

      Luxury Gulf Front Resort Residence

      Premium 2-bedroom condo with Gulf views and resort amenities.
      520 Santa Rosa Blvd, Fort Walton Beach, FL 32548
      View Details
    • $899,000
      4,283 SF

      Fort Walton Beach Office Building

      Prime location, +/- 3,825 SF, Sale/Lease
      28 Ferry Rd SE, Fort Walton Beach, FL 32548
      View Details
    • $1,150,000
      8,409 SF

      Fort Walton Beach Industrial Investment

      8,409 SF Industrial Property - Excellent Location
      50 Hill Ave NW, Fort Walton Beach, FL 32548
      View Details
    • $875,000
      2,080 SF

      Waterfront Condo with Boat Slip

      Luxury condo in Fort Walton Beach with boat slip and lift.
      124 SW Miracle Strip Pkwy, Fort Walton Beach, FL 32548
      View Details
    • $229,900

      Tastefully Decorated Townhome with Garage

      Two-bedroom, two-and-a-half bath townhome with fenced backyard and garage.
      211 SE 3Rd St, Fort Walton Beach, FL 32548
      View Details
    • $199,900

      Fort Walton Beach Townhome

      Charming 2-bedroom townhome near beach, shopping, and military bases.
      419 Hollywood Blvd E, Fort Walton Beach, FL 32548
      View Details

    Similar Nearby for Lease

    • $95,000
      3,048 SF

      Fort Walton Beach Restaurant Space

      Prime 3,048 SF restaurant space, high visibility, ample parking.
      88 Eglin Pkwy NE, Fort Walton Beach, FL 32548
      View Details
    • $23,000
      24,820 SF

      Fort Walton Beach Office Space

      Large Office: Sale or Lease, 24,820 SF
      634 Anchors St NW, Fort Walton Beach, FL 32548
      View Details
    • $12 SF/Yr
      300,000 SF

      Uptown Station Retail Space

      Fort Walton Beach prime retail center
      99 Eglin Pkwy, Fort Walton Beach, FL 32548
      View Details
    • Contact for pricing
      15,640 SF

      Prime Okaloosa Island Retail Space

      15,640 SF Restaurant/Bar, Bayfront Location
      1318 Miracle Strip Pkwy, Fort Walton Beach, FL 32548
      View Details
    • $23,000
      24,820 SF

      Class B Office Space Available

      Two-story Class B office building in Technology Park for rent.
      634 NW Anchors St, Fort Walton Beach, FL 32548
      View Details
    • $20,000 /Mo
      10,000 SF

      Two-Story Office Space Available

      10,000 sq ft office space with dedicated parking.
      113 Hollywood Blvd NW, Fort Walton Beach, FL 32548
      View Details
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    573 Santa Rosa Blvd
    Fort Walton Beach, FL 32548-6912
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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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