Commercial Real Estate Market in Destin, FL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
175 active listings and 1,122 off-market properties in Destin, FL. Commercial property asks $199/SF to buy and $24.22/SF/Yr to lease.
Market Trends
Destin, FL spans 19.6 square miles in Okaloosa County, Florida. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Destin, FL runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Destin, FL runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Destin, FL runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in Destin, FL runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 36.9%
- Mixed use 21.7%
- Commercial 16.5%
- Open space 12.1%
- Civic 6.4%
- Special 5.5%
- Industrial 0.8%
Largest Zones share of zoned land by district
Low Density Residential Village
Recreation
Bay Estates
Institutional
Gulf Resort Mixed Use
Low Density Residential Village (LDR-V)
LDR-V Low Density Residential - Village MDR-HI Medium Density Residential - Holiday Isle MDR-V Medium Density Residential - Village NHMU North Harbor Mixed Use REC Recreation ROI-GD Residential, Office, and Institutional - Gen eral Development ROI-TD Residential, Office, and Institutional - Tou rist Development ROI-VR Residential, Office, and Institutional -…
Market overview
Demographics & Economy
Destin, FL has 26,247 residents in 31,299 households. Density runs 1,343 people per square mile. Median household income here is $93,978 and median gross rent $2,015 a month.
26,247
Population
31,299
Households
0.8
Avg Household Size
50
Median Age
50%
College-Educated
96%
High-School Grad
19.6 sq mi
ZIP Area
1,343
Density / Sq Mi
$93,978
Median Household Income
$51,762
Median Earnings
$2,015
Median Rent
$552,642
Median Home Value
Tools
Lease vs Buy Breakeven
At $24.22/SF/Yr lease vs $199/SF buy → buying wins if held > 1 years.
At a 12.2% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Eglin | — | — |
| Shalimar | — | $15.31 |
| Miramar Beach | — | $34.18 |
| Fort Walton Beach | — | $12.10 |
Commercial property in Destin, FL asks $199/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Destin?
Commercial property in Destin, FL asks an average of $199 per square foot. The 7 most recent recorded sales traded at a median of $206/SF.
How much does it cost to lease commercial space in Destin?
Asking lease rates in Destin, FL average $24.22 per square foot per year.
Is it cheaper to lease or buy commercial space in Destin?
Buying beats leasing in Destin, FL if the property is held longer than 1.0 years, comparing $24.22/SF/Yr asking rent with $199/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Destin market data come from?
Realmo compiles Destin, FL figures from 8 recent recorded sales, 105 active sale listings, 70 active lease listings, 1,122 tracked off-market properties, the current Destin zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 105 active for-sale and 70 active for-lease listings in Destin, FL. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 4,063 zoned acres across 28 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
