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    34904 Emerald Coast Pkwy Destin, FL 32541

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    For Lease
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    Retail space with high visibility and access on Emerald Coast.

    Property Features for 34904 Emerald Coast Pkwy

    General Information

    Standard status
    Active

    Building Details

    Year built
    2011

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    Listing Contact
    Harry Bell
    Harry Bell
    Source: Crexi

    Listing Agency: Bellcore Commercial LLC Listing Agent: Harry Bell

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Crystal Beach Plaza Retail Space

    The Crystal Beach Plaza is located at the intersection of U.S. Highway 98 and SR 293. The location provides visibility and access to over 59,000 vehicles per day. U.S. Highway 98 serves as the main route along Florida's Emerald Coast, connecting Destin to Pensacola and Panama City. The property is located in a dense retail corridor, surrounded by national retailers, restaurants, and entertainment venues. Nearby retailers include Bass Pro Shops, Whole Foods, Wal-Mart Supercenter, Belk, H&M, AMC Theaters, Ross, Stein Mart, Publix, Bed Bath & Beyond, Home Depot, Lowe's, Best Buy, PetSmart, Office Depot, Ulta, and The Fresh Market. The center is near downtown Destin, tourist attractions, and recreational areas, including golf courses and Henderson Beach State Park. The population within one mile of the property increased by 62.33% between 2010 and 2017, with an expected additional 12% increase by 2022. Several residential developments are underway near the property, including the next phase of The Henderson, a multi-phase resort complex with residential lofts and two hotels. The area benefits from a customer base with average household incomes exceeding $100,000 within one-, three-, and five-mile radii.
    Location Intelligence

    Current Use by Public Records

    Plato's Closet - Destin ... Clothing & Fashion Store Prime IV Hydration ... Alternative Medicine Practice REV Realty Real Estate Agency Sugar Palm Vacation ... Vacation Rental New Dragon Chinese ... Restaurant

    Suggested Use

    Restaurant Law Firm Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    Destin Commons, Shoppes at Paradise Isle, Sunglass Outfitters by Sunglass Hut, Path To GRACE, Crystal Beach Plaza

    Location Insight

    • Map
    • Local Demand
    City
    Destin
    County
    Walton
    State
    Florida
    Longitude
    -86.4275166
    Latitude
    30.3875071

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    FAQs

    What type of property is this?
    Shopping center - Retail space with high visibility and access on Emerald Coast.
    Where is this shopping center located?
    The property is located at 34904 Emerald Coast Pkwy Destin, FL.
    What are key features of this property?
    This property features: - High-traffic location at a signalized intersection of U.S. Highway 98 and SR 293, with 59,000+ vehicles per day.; - Located in a dense retail corridor surrounded by major national retailers.; - Significant population growth in the immediate area.
    (850) 240-0527
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    34904 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
    34904 Emerald Coast Pkwy Destin, FL 32541
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    Listing Contact
    Harry Bell
    Harry Bell
    Real Estate License ID: #BK3026917
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