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Property profile & analytics
OFF-MARKET
Estimated value
$7,920,000
Investment properties
11394 Us Hwy 98th W Miramar Beach, FL 32550-8670
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-5484408
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
2007
Construction
STEEL FRAME
Total area
30,824 SF
Lot
1.93 ac (83,940 SF)
Zoning code
HWY 98
APN
28-2S-21-42000-023-0021
UPID
US18-5484408
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.92M
Owner & transaction history
Pgp Village Destin 1 LLC · 1 yrs held
Pgp Village Destin 1 LLC
since 2024
Last sale
$8.0M
5 recorded transactions
Zoning & alternative use
HWY 98 · Miramar Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$9.9M
+13.4%
Restaurant
$9.2M
+4.8%
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 Miramar Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Miramar Beach 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$8,740,000
Current use
RETAIL STORES
$9,910,000
Change: +13% · Conversion: Easy
RESTAURANT
$9,160,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$7.92M
Range $7.13M – $8.71M · ±10% · vs last sale $8.00M (Apr 18 2024)
Last sale anchor
$8.00M
Apr 18 2024
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
$257 / 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
$58,875
Tax year 2023
Assessed value
$6,479,459
Assessed 2023
Previous assessed
$6,693,017
-3.2% YoY
Effective rate
0.91%
On assessed value
Assessed land
$1,263,824
Assessed improvement
$5,215,635
Land market value
$1,263,824
Improvement market value
$5,215,635
Total market value
$6,479,459
Applied tax rate
7.0000
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
2007
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
12
Total area
30,824 SF
Lot
1.93 ac (83,940 SF)
Zoning code
HWY 98
APN
28-2S-21-42000-023-0021
UPID
US18-5484408
Jurisdiction
WALTON
Zoning & alternative use
HWY 98 · Miramar Beach, FL
Zoning HWY 98 · permitted uses
HWY 98 · Miramar Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Miramar Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$8.7M
RETAIL STORES
Est. value
$9.9M
RESTAURANT
Est. value
$9.2M
COMMERCIAL (GENERAL) Current
RETAIL STORES
RESTAURANT
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
2007
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
12
Lot
1.93 ac
Current owner
From public records · entity-resolved
Pgp Village Destin 1 LLC
Entity
Mailing address
901 PONCE DE LEON BLVD STE #204, CORAL GABLES, FL 33134-3070
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 18, 2024
$8,000,000
Pgp Village Destin 1 LLC
Salamanca Investments LLC
Special Warranty Deed
$5,120,000 · Everwise Cu
Aug 10, 2018
$7,950,000
Salamanca Investments LLC
Village Shoppes Of Dustin LLC
Special Warranty Deed
—
Apr 7, 2004
$1,300,000
Village Shoppes Of Destin LLC
Davis,m C
Warranty Deed
$650,000 · Compass Bank
—
—
Village Shoppes Of Destin LLC
—
Deed Of Trust
related
$500,000 · Ccb Community Bank
—
—
Village Shoppes Of Destin LLC
—
Deed Of Trust
related
$4,890,000 · Bank Of America
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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