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Property profile & analytics
FOR LEASE
Retail properties & Spaces
702 NW Anchors St Fort Walton Beach, FL 32548
Entity Owned
~
Est. High Equity
Property ID
US18-4694616
For Lease
1 / 10
$1,005,000
702 NW Anchors St, Fort Walton Beach, FL 32548
View Listing →
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
1975
Construction
STEEL FRAME
Total area
13,676 SF
Lot
3.44 ac (149,846 SF)
APN
08-2S-24-0000-0002-0050
UPID
US18-4694616
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
-
Disabled Veterans Group Inc Advocacy Group Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.00M
Blend (final)
Blend
$1.01M
Owner & transaction history
Hap Florida I LLC
Hap Florida I LLC
since 2026
Last sale
$1.4M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
INDUSTRIAL (GENERAL)
$1,410,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$1.01M
Range $905k – $1.11M · ±10% · vs last sale $1.38M (Feb 6 2026)
Last sale anchor
$1.38M
Feb 6 2026
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
$73 / 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
$6,732
Tax year 2023
Assessed value
$489,160
Assessed 2023
Previous assessed
$459,351
+6.5% YoY
Effective rate
1.38%
On assessed value
Assessed land
$243,544
Assessed improvement
$245,616
Land market value
$243,544
Improvement market value
$245,616
Total market value
$489,160
Applied tax rate
4.0000
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 properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
For Lease
Year built
1975
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Stories
1
Total area
13,676 SF
Lot
3.44 ac (149,846 SF)
APN
08-2S-24-0000-0002-0050
UPID
US18-4694616
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
INDUSTRIAL (GENERAL)
Est. value
$1.4M
INDUSTRIAL (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
1975
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Lot
3.44 ac
Current owner
From public records · entity-resolved
Hap Florida I LLC
Entity
Mailing address
13264 EVA DR, ANDALUSIA, AL 36420-9254
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2026
$1,375,000
Hap Florida I LLC
Covington Properties LLC
Warranty Deed
—
Oct 30, 2018
—
Covington Proprties LLC
—
Deed
related
$330,985 · Ccb Community Bank
Dec 18, 2017
$300,000
Covington Properties LLC
Bedran,tony
Warranty Deed
—
Dec 31, 2001
—
Gulf South Contractors INC
Gonzalez,joey F
Quit Claim Deed
related
—
Mar 26, 2001
$484,100
Joey F Gonzalez
Scott,john L & Beverly R
Grant Deed
$435,690 · The Bank
—
—
Gulf South Contractors INC
—
Deed Of Trust
related
$50,000 · Us Small Business Admn
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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