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Property profile & analytics
FOR SALE
Commercial real estate
4458 Legendary Dr Destin, FL 32541
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US18-6340520
For Sale
1 / 28
$4,995,000
4458 Legendary Dr, Destin, FL 32541
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Property summary
AI-generated overview
This exceptional Class A office building, constructed in 2008, boasts 22,676 square feet across two stories. Located in Destin, Florida's Regatta Commons, this property offers 10 suites and a roster of credit-rated tenants, ensuring immediate income generation. Situated within the elite Regatta Commons commercial development, it fronts Regatta Bay, a premier residential golf community, and enjoys convenient access to the Destin Commons mixed-use district. The building's prime location, coupled with its high-quality construction and strong tenant base, presents a compelling investment opportunity with significant residual value in the thriving Destin market. The asking price is $4,950,000, translating to $218.29 per square foot. This multi-tenant property, identified by APN 00-2S-22-2101-0000-0160, is a single building located at 4458 Legendary Dr, Destin, FL 32541. Further details are available upon request.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
24,872 SF
Lot
0.12 ac (5,370 SF)
APN
00-2S-22-2101-0000-0160
UPID
US18-6340520
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Employee Benefit Solutions Insurance Agency
-
Northwestern Mutual Financial Advisor
-
Sunbelt Title Agency Title Company Insurance Agency
-
Work Law Firm Law Firm
-
VDT Construction LLC Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.65M
Comparable Approach
Comparable
$5.59M
Blend (final)
Blend
$5.03M
Owner & transaction history
Ocean 5 Dev LLC · 7 yrs held
Ocean 5 Dev LLC
since 2019
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Destin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Destin submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,035,000
6.5%
$4,650,000
7%
$4,315,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$6,945,000
Current use
Blend value · Realmo final
$5.03M
Range $4.53M – $5.53M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$202 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$26,968
Tax year 2023
Assessed value
$2,536,933
Assessed 2023
Previous assessed
$2,512,153
+1.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$168,630
Assessed improvement
$2,368,303
Land market value
$168,630
Improvement market value
$2,368,303
Total market value
$2,536,933
Applied tax rate
9.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
3
Rooms
51
Total area
24,872 SF
Lot
0.12 ac (5,370 SF)
APN
00-2S-22-2101-0000-0160
UPID
US18-6340520
Jurisdiction
OKALOOSA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$6.9M
COMMERCIAL (GENERAL) Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2008
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
3
Rooms
51
Lot
0.12 ac
Current owner
From public records · entity-resolved
Ocean 5 Dev LLC
Entity
Mailing address
212 EGLIN PKWY SE, FORT WALTON BEACH, FL 32548-5811
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2019
$3,939,000
Ocean 5 Dev LLC
Ssi Regatta Bay LLC
Grant Deed
—
Apr 20, 2015
$2,000,000
Ssi Regatta Bay LLC
Regatta Bay Office Developers
Grant Deed
—
May 1, 2012
—
Regatta Bay Office Developers
—
Deed Of Trust
related
$4,416,777 · Charter Bank
Oct 28, 2005
—
Regatta Bay Office Developers
—
Trustees Deed
related
$4,880,000 · First National Bank Florida
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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