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    Inlet Beach Prominence Triplex Unit Title is generated by Realmo AI

    223 Milestone Drive, Inlet Beach, FL 32461

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    For Sale
    $724,900

    MULTI_FAMILY - Other - Inlet Beach, FL

    Property size:
    1,293 SF
    Price / SF:
    $560/SF
    Added:
    May 21, 2026
    Days on Market:
    7
    Last Refresh:
    May 27 at 8:06 am

    Property Features for 223 Milestone Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Deed Restrictions, Resid
    Bedrooms
    2
    Bathrooms
    2
    Rooms
    Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1
    Parking
    2
    Window features
    Window Treatments, Storm Window(s)
    Patio and Porch features
    Patio
    Interior features
    Ceiling Crwn Molding, Owner's Closet, Pantry
    Exterior features
    Balcony
    Appliances
    Auto Garage Door Opn, Cooktop, Dishwasher, Disposal, Dryer, Oven Self Cleaning, Range Hood, Refrigerator, Refrigerator W/IceMk, Washer, Water Heater - Tnkls
    Standard status
    Active
    APN
    20-3S-18-16205-000-4210
    Size
    1,293 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LOT 421 PROMINENCE PHASE 3 NORTH PB 20-9 OR 3076-4075 OR 3149-1132
    Tax Annual Amount
    5599

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Central Air

    Building Details

    Year built
    2018
    Floors in Building
    2
    Flooring type
    Hardwood, Tile
    Building materials
    Siding CmntFbrHrdBrd
    Architectural style
    Other

    We can help!

    Listing Contact
    Christopher G Lambert

    Listing agent Christopher G Lambert License #3268813

    Listing office Real Broker LLC 122 W Pine St #300, Championsgate, FL

    Listing date May 21, 2026

    MLS# 1003594 Listing URL

    Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey and tastefully furnished, ready for immediate occupancy or rental.
    • Rental projections up to $65,000 annually.
    • Unit overlooks a rare green space, providing nature views and enhanced privacy.
    • Upgraded kitchen with quartz countertops, tile backsplash, and gas range with vented hood.
    • Updated guest bath with glass shower doors.
    • New washer/dryer, dishwasher, and refrigerator.

    Overview

    This well-appointed and meticulously maintained unit is located in the Prominence Triplex. It features 10ft ceilings, hardwood flooring, upgraded coastal finishes, and a kitchen with quartz countertops, tile backsplash, and a gas range with vented hood. The unit includes a new washer/dryer, dishwasher, and fridge. The guest bath has been updated with glass shower doors. Freshly painted inside and outside, this tastefully furnished unit is being offered turnkey. Rental projections suggest potential income opportunities up to $65,000. The unit overlooks a small green space, offering nature views and additional privacy. The property is zoned for residential use and subject to deed restrictions. It has a property size of 1293 square feet and is located in Inlet Beach, FL.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Spa & Massage Center Hair Salon Real Estate Agency Nail Salon Skin Care Clinic Gym & Fitness Center Grocery & Convenience Store Bar & Pub Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Inlet Beach
    County
    Walton
    State
    Florida
    Longitude
    -86.066264
    Latitude
    30.304838

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    FAQs

    What type of property is this?
    Triplex - Meticulously maintained triplex unit with rental income potential.
    Where is this triplex located?
    The property is located at 223 Milestone Drive Inlet Beach, FL.
    What is the asking price?
    The asking price for this property is $724,900.
    What are key features of this property?
    This property features: Turnkey and tastefully furnished, ready for immediate occupancy or rental.; Rental projections up to $65,000 annually.; Unit overlooks a rare green space, providing nature views and enhanced privacy.
    (850) 830-6029
    We can help!
    Listing Contact
    Christopher G Lambert
    Real Estate License ID: 3268813
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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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