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Property profile & analytics
OFF-MARKET
Estimated value
$1,690,000
Strip malls
722 Beal N Pkwy Fort Walton Beach, FL 32547-3049
Entity Owned
15-yr Hold
Free & Clear
Property ID
US18-5006070
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1986
Construction
STEEL FRAME
Total area
8,788 SF
Lot
1.37 ac (59,871 SF)
APN
03-2S-24-0000-0228-0000
UPID
US18-5006070
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
-
Jeff Love - State Farm Insurance Agent Insurance Agency
-
Walker Stanley P Law Firm
-
Heavenly Croissant Bakery Specialty Food Shop
-
1st Class Hair & Beauty Studio Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.06M
Blend (final)
Blend
$1.69M
Owner & transaction history
G & R Commercial Props LLC · 15 yrs held
G & R Commercial Props LLC
since 2011
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.0M
+46.6%
Restaurant
$2.0M
+45.9%
Retail stores
$1.9M
+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
$1,375,000
Current use
AUTO REPAIR, GARAGE
$2,015,000
Change: +47% · Conversion: Difficult
RESTAURANT
$2,005,000
Change: +46% · Conversion: Difficult
RETAIL STORES
$1,900,000
Change: +38% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,715,000
Change: +25% · Conversion: Easy
Blend value · Realmo final
$1.69M
Range $1.52M – $1.86M · ±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
$192 / 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
$20,104
Tax year 2023
Assessed value
$1,623,923
Assessed 2023
Previous assessed
$1,554,137
+4.5% YoY
Effective rate
1.24%
On assessed value
Assessed land
$1,011,092
Assessed improvement
$612,831
Land market value
$1,011,092
Improvement market value
$612,831
Total market value
$1,623,923
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1986
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Rooms
14
Total area
8,788 SF
Lot
1.37 ac (59,871 SF)
APN
03-2S-24-0000-0228-0000
UPID
US18-5006070
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
$1.4M
AUTO REPAIR, GARAGE
Est. value
$2.0M
RESTAURANT
Est. value
$2.0M
RETAIL STORES
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.7M
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
1986
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Rooms
14
Lot
1.37 ac
Current owner
From public records · entity-resolved
G & R Commercial Props LLC
Entity
Free & Clear · 15 yrs held
Mailing address
129 LINSTEW DR NW, FORT WALTON BEACH, FL 32548-3907
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 7, 2011
—
G & R Commercial Props LLC
Smith,george R & Rebecca B
Warranty Deed
—
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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