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    36150 Emerald Coast Pkwy Destin, FL 32541

    Sponsored
    For Lease
    $30 SF/Yr

    Prime Destin retail, 4,100 SF available

    Lot size:
    24,660 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    Exceptional retail opportunity in Destin's City Market Beachside Shopping Plaza. This 4,100 square foot space, previously occupied by Coastline Kitchen & Bath, boasts a prime location within the plaza, offering high visibility and accessibility. The suite includes a reception area, two restrooms, two private offices, a kitchen, a conference room, and storage. The plaza itself is situated on US Hwy 98, a major thoroughfare with approximately 50,500 vehicles passing daily, ensuring excellent exposure to a large customer base. Benefit from the strong tenant mix and high foot traffic of this well-established shopping center. Destin's thriving tourism industry, attracting over 4 million visitors annually, and its desirable residential market create a robust and diverse customer pool. The property's strategic location near Hurlburt & Eglin Air Force Bases, Crystal Beach Shopping Plaza, Destin Commons, golf courses, beaches, and entertainment venues further enhances its appeal. Proximity to major national retailers like Publix, Walgreens, Walmart, and more, solidifies its position within Destin's prime retail area. The property sits on 2.04 acres with 80 total parking spaces, built in 2004, and is part of a larger 24,660 square foot building. The zoning is Vacant COM. This is an unparalleled opportunity to establish or expand your retail business in one of Florida's most sought-after destinations. The property features multiple tenancy and is zoned for commercial, office, retail, and display uses.

    Property Features for 36150 Emerald Coast Pkwy

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    24,660 SF
    Total Rate
    61650

    Building Details

    Year Built
    2004
    Buildings
    1

    Unit(s) available at that property

    Space
    Suite 106
    Size
    4,100 SF
    Rate per SF
    $30
    Space
    Suites Coming Soon
    Size
    3,360 SF
    Rate per SF
    $30
    Space
    Suite Coming Soon
    Size
    2,260 SF
    Rate per SF
    $30
    Space
    Suite Coming Soon
    Size
    1,370 SF
    Rate per SF
    $30

    We can help!

    Listing Contact
    Harry Bell
    Harry Bell

    Learn more

    Property Insight Report

    HighLights

    • High visibility and accessibility from US Highway 98 (50,500 VPD).
    • Excellent location near affluent residential areas, popular tourist destinations, and recreational amenities.
    • Strong co‑tenancy with national retailers including Publix, Walgreens, Walmart, and others.
    Property Profile Location Intelligence

    Current Use by Public Records

    Destiny Nail Salon Nail Salon Aqua Vitae-IV Drip ... Health Spa Herbalife - Lucky Beach ... Coffee Shop Hair Organically Hairdresser Weddings On A Beach Wedding Service

    Suggested Use

    Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Destin
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.407240185449
    Latitude
    30.386756096621

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    FAQs

    What type of property is this?
    Retail property - Prime Destin retail, 4,100 SF available
    Where is this retail property located?
    The property is located at 36150 Emerald Coast Pkwy Destin, FL.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: High visibility and accessibility from US Highway 98 (50,500 VPD).; Excellent location near affluent residential areas, popular tourist destinations, and recreational amenities.; Strong co-tenancy with national retailers including Publix, Walgreens, Walmart, and others.
    Request Owner's contact information
    36150 Emerald Coast Pkwy Destin, FL 32541
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    Destin, FL 32541
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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
    36150 Emerald Coast Pkwy Destin, FL 32541
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    We can help!
    Listing Contact
    Harry Bell
    Harry Bell
    Real Estate License ID: FL BK3026917
    Learn more
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