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    Property profile & analytics

    723 Eglin NE Pkwy Fort Walton Beach, FL 32547-2527

    • Turn key restaurants
    • 3,228 SF
    • 0.29 lot acres
    OFF-MARKET
    Value Estimation
    $225,000
    Last Sale
    Feb 19, 2021
    $200,000
    Location Intelligence
    Property ID
    US18-5052368
    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

    • Papis Cafe & Grill / Spanish Restaurant / Puerto Rican Restaurant

    Property Details for 723 Eglin NE Pkwy

    Year built
    1970
    Construction
    FRAME
    Lot size
    0.29 lot acres
    Property size
    3,228 SF
    Property type
    Turn key restaurants
    APN
    01-2S-24-0180-0010-0050
    APU
    012S24018000100050

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $235,000

    • CAP approach

      CAP return
      Estimation
      6%
      $215,000
      6.5%
      $210,000
      7%
      $220,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $195,000
      Geo Method
      $235,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $205,000
      Retail
      $235,000
      Mixed-Use
      $195,000
      Hospitality
      $200,000
      Educational
      $200,000
      Residential Income
      $265,000
      Energy
      $235,000
      Income-Based Land
      $250,000
      Food Service
      $240,000

    Location Insight

    • Map
    • Local Demand
    City
    Fort Walton Beach
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.5964
    Latitude
    30.441
    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
    $2,910
    $170,257
    $64,822
    $235,079
    -
    $170,257
    $64,822
    $235,079

    Comparable in this City

    • Value Estimation
      $355,000
      3,984 SF

      789 Beal N Pkwy

      RESTAURANT • 3,984 SF
      789 Beal N Pkwy, Fort Walton Beach, FL 32547-3079
      View Details
    • Value Estimation
      $300,000
      2,508 SF

      290 Eglin NE Pkwy

      RESTAURANT • 2,508 SF
      290 Eglin NE Pkwy, Fort Walton Beach, FL 32547-2867
      View Details
    • Value Estimation
      $285,000
      2,712 SF

      648 Beal N Pkwy

      RESTAURANT • 2,712 SF
      648 Beal N Pkwy, Fort Walton Beach, FL 32547-3508
      View Details
    • Value Estimation
      $405,000
      4,883 SF

      543 Eglin NE Pkwy

      RESTAURANT • 4,883 SF
      543 Eglin NE Pkwy, Fort Walton Beach, FL 32547-2829
      View Details
    • Value Estimation
      $925,000
      12,150 SF

      455 Eglin NE Pkwy

      RESTAURANT • 12,150 SF
      455 Eglin NE Pkwy, Fort Walton Beach, FL 32547-2827
      View Details
    • Value Estimation
      $560,000
      6,241 SF

      1955 Lewis Turner Blvd

      RESTAURANT • 6,241 SF
      1955 Lewis Turner Blvd, Fort Walton Beach, FL 32547-1256
      View Details

    Similar Nearby for Sale

    • $425,000

      Service Shop on Half Acre

      Half acre parcel with shop and house near school.
      805 Playground Rd, Fort Walton Beach, FL 32547
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    • Contact for pricing
      8,450 SF

      High-Traffic Commercial Space Available

      Prime commercial property with high visibility and ample parking.
      220 Eglin Pkwy NE, Fort Walton Beach, FL 32547
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    • $699,000

      Prime Commercial Property on Eglin

      Highly visible commercial property in Fort Walton Beach business district.
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    • $700,000
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      4,300 SF Medical Office - Sale or Lease
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      Fort Walton Beach Office Space

      Mixed-use commercial property with excellent visibility and access.
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      8700 SF flex space with office and fenced yard.
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    Similar Nearby for Lease

    • $28 SF/Yr
      3,644 SF

      Fort Walton Beach Retail Space

      High-visibility retail property with drive-thru and commercial kitchen.
      302 Racetrack Rd NW, Fort Walton Beach, FL 32547
      View Details
    • $15 SF/Yr
      62,504 SF

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      High-traffic, 1,540 sq ft restaurant space.
      109 Racetrack Rd, Fort Walton Beach, FL 32547
      View Details
    • $10 SF/Yr
      9,760 SF

      Fort Walton Beach Commercial Space

      Prime Office, Showroom, & Warehouse Space
      2 Racetrack Rd NE, Fort Walton Beach, FL 32547
      View Details
    • $10 SF/Yr
      19,821 SF

      Renovated Flex Space in Florida

      19,000+ SF flex space with warehouse and office/showroom.
      311 Racetrack Rd NW, Fort Walton Beach, FL 32547
      View Details
    • $1,248 /Mo
      892 SF

      Retail Space with High Visibility

      Retail space with front and rear access and parking.
      294 Eglin Pkwy NE, Fort Walton Beach, FL 32547
      View Details
    • $1.00 SF/Yr

      Fort Walton Beach Retail Space

      Retail space available for rent in Fort Walton Beach.
      11 NE Racetrack Rd Rd NE, Fort Walton Beach, FL 32547
      View Details
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    Fort Walton Beach, FL 32547-2527
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    Realmo Value Estimation

    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.

    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.

    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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