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    Property profile & analytics

    36062 Emerald Coast Pkwy Destin, FL 32541-5719

    • Outlet malls
    • 8,450 SF
    • 0.57 lot acres
    OFF-MARKET
    Last Sale
    Apr 01, 2025
    $1,800,000
    Value Estimations
    $1,830,000
    Show details
    Cap Rate Potential
    6.3%
    Outlet malls
    Location Intelligence
    Property ID
    US18-3146440
    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

    • Ethan Allen / Bedroom Furniture Store / Home Goods Store

    Property Details for 36062 Emerald Coast Pkwy

    Year built
    1996
    Construction
    STEEL FRAME
    Lot size
    0.57 lot acres
    Property size
    8,450 SF
    Property type
    Outlet malls
    APN
    00-2S-22-2380-0000-0070
    APU
    002S22238000000070

    Description

    This exceptional 7,495 square foot freestanding retail building is situated on a 0.57-acre lot at 36062 Emerald Coast Pkwy, Destin, FL 32541 (APN: 00-2S-22-2380-0000-0070). Built in 1996, this single-story building boasts beautiful architectural details, including an arbored trellis façade. Currently occupied, the property offers flexible space suitable for various retail uses. Exceptional logistics are provided by a service drive with a large commercial overhead door on the east elevation, ideal for large truck deliveries. The rear of the property also features excellent ingress/egress with another large overhead door. Ample parking is available with approximately 16 spaces. The property is located on a highly synergistic stretch of Highway 98 in Destin, offering excellent visibility and accessibility. This prime retail location presents a significant investment opportunity. The building's single tenancy and substantial square footage make it an attractive prospect for a variety of businesses. The property's features, including the convenient service drive and ample parking, contribute to its overall functionality and appeal. A minimum of 48 hours' notice is required for all showings.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,920,000
      ML approach
      $1,760,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,025,000
      6.5%
      $1,870,000
      7%
      $1,735,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,152,000
      Market price range: $2.15M - $4.25M

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

    Location Insight

    • Map
    • Local Demand
    City
    Destin
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.4118
    Latitude
    30.3875
    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
    $8,973
    $577,500
    $245,746
    $823,246
    -
    $577,500
    $245,746
    $823,246

    Comparable in this City

    • Value Estimation
      $29,225,000
      224,756 SF

      15017 Emerald Coast Pkwy

      WHOLESALE OUTLET, DISCOUNT STORE • 224,756 SF
      15017 Emerald Coast Pkwy, Destin, FL 32541-3358
      View Details
    • Value Estimation
      $16,875,000
      127,488 SF

      853 Hbr Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 127,488 SF
      853 Hbr Blvd, Destin, FL 32541-2709
      View Details
    • Value Estimation
      $18,625,000
      141,657 SF

      4385 Cmns W Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 141,657 SF
      4385 Cmns W Dr, Destin, FL 32541-8414
      View Details
    • Value Estimation
      $1,620,000
      11,532 SF

      747 Hbr Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 11,532 SF
      747 Hbr Blvd, Destin, FL 32541-2505
      View Details
    • Value Estimation
      $1,305,000
      8,912 SF

      36054 Emerald Coast Pkwy

      WHOLESALE OUTLET, DISCOUNT STORE • 8,912 SF
      36054 Emerald Coast Pkwy, Destin, FL 32541-5779
      View Details
    • Value Estimation
      $1,730,000
      9,925 SF

      747 Hbr Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 9,925 SF
      747 Hbr Blvd, Destin, FL 32541-2505
      View Details

    Similar Nearby for Sale

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      Starbucks NNN Lease Investment Opportunity

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    Similar Nearby for Lease

    • $27 SF/Yr
      84,682 SF

      Retail Space in Destin Corridor

      Prime retail space in Destin's high-traffic retail corridor.
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      View Details
    • $30 SF/Yr
      57,714 SF

      Crystal Beach Plaza Retail Space

      Retail space for lease in high-traffic Destin location.
      34904 Emerald Coast Pkwy, Destin, FL 32541
      View Details
    • $27 SF/Yr
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      Destin Retail Space - Hwy 98

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    • $28 SF/Yr
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      Destin Retail Space For Lease

      High-traffic location, 1700 sq ft, NNN lease.
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    • $27 SF/Yr
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      Destin Retail Center Investment Opportunity

      High-traffic Destin retail space; two units available.
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      View Details
    • $23 SF/Yr
      5,200 SF

      Destin Retail Space: 5200 SF

      High-traffic Destin retail space, 2nd floor.
      4495 Furling Ln, Destin, FL 32541
      View Details
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    Destin, FL 32541-5719
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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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