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    County Highway 393 Santa Rosa Beach, FL 32459
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    County Highway 393, Santa Rosa Beach, FL 32459

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    • Warehouses
    • 3.97 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 0 County Highway 393

    Lot size
    3.97 lot acres
    Property type
    Warehouses
    Property subtype
    Office Spaces

    Description

    This exceptional 3.97-acre commercial land parcel in Santa Rosa Beach, Florida, presents a unique pre-leasing opportunity for a single tenant. The property boasts 172,933 square feet of vacant space, ideal for a build-to-suit warehouse/office development. Located on N County Hwy 393, with a Walton County APN of 26-2S-20-33200-000-0610, the site is zoned Vacant Commercial, offering significant flexibility for development. The prime location provides easy access to a variety of amenities, including high-end shopping, fine dining, beautiful beaches, and entertainment. Nearby attractions include numerous golf courses (Watersound Origins, Camp Creek, Santa Rosa Golf & Beach Club, Seascape, Raven, and Burnt Pine Golf Club), Topsail Hill Preserve State Park, Ascension Medical Group Sacred Heart Hospital, Sandestin, Publix, and Grand Boulevard. The property's proximity to schools—Van R Butler Elementary (3 miles), Destin Middle School and Emerald Coast Middle School (14 miles), and South Walton High School (5 miles)—further enhances its appeal. This presents a rare chance to establish a presence in one of Florida's most desirable coastal markets. The property's size and zoning provide ample opportunity for a substantial and impactful development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Santa Rosa Beach
    County
    Walton
    State
    Florida
    Longitude
    -86.2285
    Latitude
    30.397

    Comparable in this City

    • Value Estimation
      $3,500,000
      55,579 SF

      5161 Us Hwy 98th W

      DISTRIBUTION WAREHOUSE
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      View Details
    • Value Estimation
      $1,550,000
      16,726 SF

      12 Buds Ln

      DISTRIBUTION WAREHOUSE
      12 Buds Ln, Santa Rosa Beach, FL 32459-6650
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    • Value Estimation
      $510,000
      7,000 SF

      50 Commercial Pkwy

      DISTRIBUTION WAREHOUSE
      50 Commercial Pkwy, Santa Rosa Beach, FL 32459-3290
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    • Value Estimation by Request
      1,600 SF

      151 Grayton Vlg Rd

      DISTRIBUTION WAREHOUSE
      151 Grayton Vlg Rd, Santa Rosa Beach, FL 32459-5764
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    • Value Estimation by Request

      +/- 6,000 SF Commercial Flex Space Building For Sale

      +/- 6,000 SF Commercial Flex Space Building For Sale
      322 - 291 Goldsby Rd, Santa Rosa Beach, FL 32459
      View Details
    • Value Estimation by Request
      0.28 Acres

      Grayton Vlg Rd

      WAREHOUSE, STORAGE
      Grayton Vlg Rd, Santa Rosa Beach, FL 32459
      View Details

    Similar Nearby for Sale

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      Land For Sale

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    • $3,500,000

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    Similar Nearby for Lease

    • $7,000 /Mo
      22,000 SF

      Santa Rosa Beach Flex Space

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    • Contact for pricing

      Flexible Space in 393 North

      End-cap unit with office, retail, and warehouse space.
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      View Details
    • $30 SF/Yr

      Versatile Flex Space for Lease

      End-cap flex space suitable for office, retail, and warehouse uses.
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      View Details
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    County Highway 393
    Santa Rosa Beach, FL 32459
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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
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