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Property profile & analytics
OFF-MARKET
Estimated value
$870,000
Warehouses
116 Hbr Blvdc Destin, FL 32541-2312
Entity Owned
21-yr Hold
~
Est. High Equity
Property ID
US18-3516470
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1989
Construction
STEEL FRAME
Total area
5,772 SF
Lot
2.14 ac (93,325 SF)
APN
00-2S-22-0314-0000-0020
UPID
US18-3516470
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
Current use
Occupant on record · Public records
-
Destin Aquatic Adventures - Private Boat Tours in Destin, Florida (Bike/Boat/Book/etc) Store
-
AJ's Spring Fling Cobia Tournament (Bike/Boat/Book/etc) Store
-
Eric Chance Stone - Musician/Novelist Music Venue Theater & Performing Art Venue
-
Bimini Breeze Boat Rental Service
-
Charter Boat Strike Zone Too Tour Operator Travel Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$680k
CAP Approach
CAP
$605k
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$870k
Owner & transaction history
Msb Of Destin INC
Msb Of Destin INC
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+58.0%
Office building
$1.2M
+49.1%
Neighborhood: shopping center
$905,000
+16.4%
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 Destin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Destin 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
$680,000
CAP Approach
CAP Return
Estimation
6%
$655,000
6.5%
$605,000
7%
$560,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$775,000
Current use
RESTAURANT
$1,225,000
Change: +58% · Conversion: Difficult
OFFICE BUILDING
$1,155,000
Change: +49% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$905,000
Change: +16% · Conversion: Moderate
AUTO REPAIR, GARAGE
$890,000
Change: +15% · Conversion: Easy
Blend value · Realmo final
$870k
Range $783k – $957k · ±10%
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
$151 / 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
$28,496
Tax year 2023
Assessed value
$2,386,768
Assessed 2023
Previous assessed
$2,291,701
+4.1% YoY
Effective rate
1.19%
On assessed value
Assessed land
$1,644,827
Assessed improvement
$741,941
Land market value
$1,644,827
Improvement market value
$741,941
Total market value
$2,386,768
Applied tax rate
10.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1989
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Buildings
2
Stories
1
Rooms
8
Total area
5,772 SF
Lot
2.14 ac (93,325 SF)
APN
00-2S-22-0314-0000-0020
UPID
US18-3516470
Jurisdiction
OKALOOSA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$775,000
RESTAURANT
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$905,000
AUTO REPAIR, GARAGE
Est. value
$890,000
WAREHOUSE, STORAGE Current
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
1989
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Rooms
8
Lot
2.14 ac
Current owner
From public records · entity-resolved
Msb Of Destin INC
Entity
Mailing address
116 HBR BLVD, DESTIN, FL 32541-2312
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Msb Of Destin INC
—
Loan Modification
related
$750,726 · First Fl Bk
—
—
Msb Of Destin INC
—
Deed Of Trust
related
$1,493,782 · Whitney National Bank
—
—
Msb Of Destin INC
—
Deed Of Trust
related
$6,700,000 · First Fl Bk
—
—
Msb Of Destin INC
—
Deed Of Trust
related
$500,000 · First A Nat'l Bkng Assn
—
—
Msb Of Destin INC
—
Deed Of Trust
related
$5,900,000 · Destin Bank
—
—
Msb Of Destin INC
—
Deed Of Trust
related
$7,324,291 · Whitney National Bank
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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