Mixed-Use Harbor Village
220 Harbor Boulevard Unit Units 1- Destin, FL 32541
220 Harbor Boulevard Unit Units 1-, Destin, FL, 32541
$4,500,000
For Sale
$4,500,000
Renovated Harbor Village building includes 10 retail storefronts and 10 two-bedroom apartments with independent access.
Property Size20,000 SF
Lot Size1.00 Acre
Price / SF$225
Days on Market1772
Property Features for 220 Harbor Boulevard Unit Units 1-
General Information
- Standard status
- Active
- Size
- 20,000 SF
- Lot size
- 1.00 Acre
- Property subtype
- General Commercial
Listing agency
Somers & Company
(850) 654-7777
Listed by
John Paul Somers · License #3210089
(850) 654-7777
Source
Xome
Added: Sep 15, 2021 Updated: Jul 21 at 8:31PM Checked: Jul 21 at 8:31PM
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 Somers & Company
Investment Insights
Based on property information with market context.
This renovated mixed-use property offers 10 contiguous commercial retail storefront units, plus 10 two-story apartments. Each retail space is approximately 600 SF and each apartment is approximately 1,400 SF with two bedrooms and 2.5 baths, including front and rear balconies. The property is configured as (10) separate deeds, and each deed includes both a commercial storefront with an apartment atop it.
Each unit provides independent access, allowing for two different tenants within each deed and up to 20 different tenants across the full building. The site is located on the south side of Harbor Boulevard in Destin, Florida, with pedestrian access from a large public parking lot on the north side of Harbor Boulevard. The site contains nearly one acre and offers approximately 220 feet of Harbor Boulevard (Highway 98) frontage, along with approximately 56 parking spaces.
The City of Destin zoning is South Harbor Mixed Use (SHMU). For additional details and to coordinate a private showing, please inquire and refer to the uploaded zoning fact sheet.
Each unit provides independent access, allowing for two different tenants within each deed and up to 20 different tenants across the full building. The site is located on the south side of Harbor Boulevard in Destin, Florida, with pedestrian access from a large public parking lot on the north side of Harbor Boulevard. The site contains nearly one acre and offers approximately 220 feet of Harbor Boulevard (Highway 98) frontage, along with approximately 56 parking spaces.
The City of Destin zoning is South Harbor Mixed Use (SHMU). For additional details and to coordinate a private showing, please inquire and refer to the uploaded zoning fact sheet.
Key Highlights
- Renovated Harbor Village building with (10) commercial retail storefront units plus (10) two‑story apartments.
- Each retail storefront is +/-600 SF; each apartment is +/-1,400 SF with 2 bedrooms and 2.5 baths, plus front and rear balconies.
- Independently accessed units: each deed includes 1 retail storefront and 1 apartment, allowing up to (20) different tenants.
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 | $360.0k | $18.00 |
| − Vacancy | −$30.6k | −$1.53 |
| EGI | $329.4k | $16.47 |
| − OpEx | −$98.8k | −$4.94 |
| NOI | $230.6k | $11.53 |
20,000 SF · lease $18.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.29M
$2.88M – $3.84M
NOI $230,580 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$3.16M
$2.77M – $3.69M
NOI $221,496 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$5.03M
$4.40M – $5.87M
NOI $352,080 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The Sea Cow
Grocery & Convenience Store
Juicebox Charters LLC
Boat Rental Service
Spark Fitness Club
Gym & Fitness Center
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Renovated Harbor Village building includes 10 retail storefronts and 10 two-bedroom apartments with independent access.
Where is this mixed-use property located?
The property is located at 220 Harbor Boulevard Unit Units 1- Destin, FL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Renovated Harbor Village building with (10) commercial retail storefront units plus (10) two‑story apartments.; Each retail storefront is +/-600 SF; each apartment is +/-1,400 SF with 2 bedrooms and 2.5 baths, plus front and rear balconies.; Independently accessed units: each deed includes 1 retail storefront and 1 apartment, allowing up to (20) different tenants.
