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    843 Eglin Pkwy N Fort Walton Beach, FL 32547
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    Property profile & analytics

    843 Eglin Pkwy N, Fort Walton Beach, FL 32547

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    • Commercial land
    • 12,012 SF
    • 1.47 lot acres
    For Sale
    $1,299,000
    View Listing →
    Waterfront Outparcel on Eglin Parkway For Sale
    $1,299,000
    1.18 Acres

    Waterfront Outparcel on Eglin Parkway

    Prime 1.18-acre waterfront outparcel with high visibility and traffic.

    843 Eglin Pkwy N, Fort Walton Beach, FL 32547
    View Listing
    Property ID
    US18-4600948
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • TownePlace Suites Fort Walton Beach-Eglin AFB / Hotel & Motel
    • 843 Eglin Parkway Parking / Parking Lot & Garage

    Property Details for 843 Eglin Pkwy N

    Lot size
    1.47 lot acres
    Property type
    Commercial land
    APN
    06-2S-23-0000-0038-0000
    APU
    062S23000000380000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 6, 2022 $850,000 Brooke J Villano Wim Fwb Investors 2 LLC Warranty Deed $595k · Whitney Bank
    Sep 27, 2012 $1,700,000 Wim-fwb Investors LLC Synovus Bk Grant Deed —
    Apr 18, 2011 — Synovus Bk Venture Capital LLC Coc Trustees Deed · related —
    Feb 3, 2006 $673,300 Terceira Dev LLC Trufas Y Vino LLC Warranty Deed —
    Feb 3, 2006 $168,400 Terceira Dev LLC Trufas Y Vino LLC Warranty Deed —
    Apr 12, 2004 $600,000 Trufas Y Vino LLC Bayside Properties LLC Grant Deed —
    Apr 12, 2004 $150,000 Trufas Y Vino LLC Bayside Properties LLC Grant Deed —
    Nov 14, 2001 $1,800,000 Bayside Properties LLC Meyer Trust Grant Deed —
    Feb 10, 1997 — Frederick S Meyer Manfred Meyer Estate Quit Claim Deed · related —
    — — Wim-fwb Investors LLC — Deed Of Trust · related $9.5M · Plains Capital Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $690,000
      ML approach
      $815,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Walton Beach
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.5937
    Latitude
    30.4406
    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
    $8,417
    $679,840
    $0.00
    $679,840
    -
    $679,840
    $0.00
    $679,840

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    Similar Nearby for Sale

    • $1,299,000

      Eglin Parkway Commercial Development Opportunity

      Prime 1.18-acre commercial land near Eglin Air Force Base.
      843 Eglin Pkwy, Fort Walton Beach, FL 32547
      View Details
    • Contact for pricing

      Waterfront Outparcel on Eglin Parkway

      Prime 1.18-acre waterfront outparcel with high visibility and traffic.
      843 Eglin Pkwy N, Fort Walton Beach, FL 32547
      View Details
    • $760,000

      High-Traffic Commercial Lot For Sale

      Cleared commercial lot with high traffic and utilities in place.
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      Commercial Land in Established Corridor

      Commercial land suitable for contractors, service businesses, or light industry.
      706 Edge St, Fort Walton Beach, FL 32547
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      Prime Commercial Land on Parkway

      1.18-acre commercial land with high-traffic frontage on Eglin Parkway.
      843 Eglin Pkwy, Fort Walton Beach, FL 32547
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    Similar Nearby for Lease

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      Retail Space on Harrelson Street

      Retail space for lease in Fort Walton Beach, Florida.
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      8.67 Acre Retail Development Site

      8.67 acre parcel with retail development potential.
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      Prime Land Near Hurlburt Field

      1.18-acre mixed-use parcel near Hurlburt Field available for lease.
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      Eglin Parkway Commercial Location

      Prime commercial location near Eglin Parkway and Racetrack Rd NE.
      710 Eglin Pkwy NE, Fort Walton Beach, FL 32547
      View Details
    View Listing
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    Fort Walton Beach, FL 32547
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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.

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