Two-Space Retail
New
For Sale
$345,000
127 Harbor Blvd Unit 7, Destin, FL 32541
Owner-occupied commercial property with separate upstairs and downstairs spaces for retail or professional use.
Property Size1,600 SF
Price / SF$215.63
Days on Market4
Property Features for 127 Harbor Blvd Unit 7
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Commercial
Occupancy
100%
Building Details
Tenancy
Single
Listing Agency:
EXP Realty LLC
Listed By:
Abbott Martin Group · License #TEEX41
(850) 460-2900
Source:
Emeraldcoasthomefinder
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 4 at 6:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty LLC
Investment Insights
Based on property information with market context.
This retail property at 127 Harbor Boulevard #7 includes two separate 800-square-foot spaces totaling 1,600 square feet. The layout places one space upstairs and one downstairs, creating distinct areas within the same commercial holding. The property is currently owner-occupied, with no existing tenant leases in place.
Located in Destin along Harbor Boulevard, the property provides access to the surrounding commercial corridor. Its configuration supports retail or professional uses and offers separate space arrangements within the building. Buyer to independently verify square footage and permitted uses.
Located in Destin along Harbor Boulevard, the property provides access to the surrounding commercial corridor. Its configuration supports retail or professional uses and offers separate space arrangements within the building. Buyer to independently verify square footage and permitted uses.
Key Highlights
- Two 800 SF spaces sold together for 1,600 SF total
- Separate upstairs and downstairs commercial spaces
- Currently owner‑occupied with no tenant leases in place
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,446
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$368,920
$368.9K
Cap Rate 7%
$263,514
$263.5K
Cap Rate 9%
$204,956
$205.0K
Market Conditions
NOI Build-Up for 1,600 SF
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.
Gross rent
$28.8K $18.00/SF
− Vacancy
−$2.4K −$1.53/SF
EGI
$26.4K $16.47/SF
− OpEx
−$7.9K −$4.94/SF
NOI
$18.4K $11.53/SF
Area
Walton County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$368,920
Cap Rate 7%
$263,514
Cap Rate 9%
$204,956
Alternative Uses
Best Use
Retail
$263.5K
$230.6K – $307.4K
NOI $18,446 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$402.4K
$352.1K – $469.4K
NOI $28,166 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,149
Businesses Nearby
25k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 87%
Hotels & Casinos 10%
Home Improvements & Furnishings 2%
Shops & Services 1%
Whataburger
Dining
21,055 visits/mo
0.1 miles
Inn on Destin Harbor, Ascend Hotel Collection
Hotels & Casinos
1,397 visits/mo
0.4 miles
Motel 6
Hotels & Casinos
1,101 visits/mo
0.5 miles
Moe's Original Bar B Que
Dining
790 visits/mo
0.2 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
627 visits/mo
0.2 miles
Demographics for 32541, FL
18,419
Population
16,390
Households
1.1
Avg Household Size
45
Median Age
48%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
1,462
Density / Sq Mi
$93,004
Median Household Income
$47,991
Median Earnings
$1,976
Median Rent
$498,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Owner-occupied commercial property with separate upstairs and downstairs spaces for retail or professional use.
Where is this retail space located?
The property is located at 127 Harbor Blvd Unit 7 Destin, FL.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Two 800 SF spaces sold together for 1,600 SF total; Separate upstairs and downstairs commercial spaces; Currently owner‑occupied with no tenant leases in place
