Destin Retail Investment
15 Palmetto St Destin, FL 32541
15 Palmetto St, Destin, FL, 32541
$1,095,000
For Sale
$1,095,000
3,600 SF Retail For Sale 115 Palmetto St
Property Size4,021 SF
Price / SF$272.32
AddedFeb 10, 2025
Days on Market521
Last RefreshMar 16 at 9:06 am
Property Features for 15 Palmetto St
General Information
- Standard status
- Active
- Property type
- Other retail properties, Individual retail properties, Other investment properties, Retail properties & Spaces, Investment properties
- Size
- 4,021 SF
- Net Rentable
- 3,600 SF
- Class
- C
- Elevators
- N/A
Building Details
- Year Built
- 1985
- Buildings
- 1
- Stories
- 1
Listing agent Paul (850) 564-0120
Listing office (850) 564-0120
Listing date Feb 10, 2025
Investment Insights
Based on property information with market context.
This 3,600 square foot retail/office property is situated in Destin, Florida. The building is located on a 0.34-acre lot, providing space for operations and parking. The versatile layout is suitable for a variety of businesses, including retail, office, or a combination of both. The high-visibility location ensures foot traffic and accessibility, maximizing exposure. This property is an option for owner-operators seeking a location for their business and investors looking for a stable income stream. The flexible space allows for customization to suit various business models, making it a desirable asset in a commercial area. The property's location in Destin, Florida, offers access to a local economy and a pool of potential customers. The property size is 4,021 PropertySizeUnits.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $72.4k | $18.00 |
| − Vacancy | −$6.2k | −$1.53 |
| EGI | $66.2k | $16.47 |
| − OpEx | −$19.9k | −$4.94 |
| NOI | $46.4k | $11.53 |
4,021 SF · lease $18.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$662.3K
$579.5K – $772.6K
NOI $46,358 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$884.8K – $1.18M
NOI $70,786 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail properties & Spaces
Similar For Sale Nearby
FAQs
What type of property is this?
Other retail property - 3,600 SF Retail For Sale 115 Palmetto St
Where is this other retail property located?
The property is located at 15 Palmetto St Destin, FL.
What is the asking price?
The asking price for this property is $1,095,000.
