Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    151 Regions Way Destin, FL 32541-5106

    • Office buildings
    • 7,392 SF
    • 0.21 lot acres
    OFF-MARKET
    Value Estimations
    $1,800,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6157151
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Real Estate Agent Lana Parks, Berkshire Hathaway HomeServices Beach Properties of Florida / Real Estate Agency
    • Eye Center South / Medical Clinic / Ophthalmologist
    • Anthony J. Leoncavallo, M.D. / Ophthalmologist
    • Berkshire Hathaway HomeServices Beach Properties of Florida / Real Estate Agency
    • Hana Hawkins Group at Beach Properties of Florida / Real Estate Agency

    Property Details for 151 Regions Way

    Year built
    1995
    Construction
    STEEL FRAME
    Lot size
    0.21 lot acres
    Property size
    7,392 SF
    Property type
    Office buildings
    APN
    00-2S-22-0586-0000-0010
    APU
    002S22058600000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,695,000
      6.5%
      $1,565,000
      7%
      $1,455,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,823,000
      Market price range: $1.21M - $1.83M
      AI Estimate
      $2,006,000
      Market price range: $1.23M - $2.12M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,480,000
      Current use
      RETAIL STORES
      $2,625,000
      Change: +77% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $2,065,000
      Change: +39% Conversion: Easy
      RESTAURANT
      $1,570,000
      Change: +6% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Destin
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.4204
    Latitude
    30.3884
    CBSA code
    18880
    CBSA name
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $8,554
    $299,287
    $420,646
    $719,933
    -
    $299,287
    $420,646
    $719,933

    Comparable in this City

    • Value Estimation by Request
      1,432 SF

      215 Mtn Dr Ste, Unit 103

      OFFICE BUILDING • 1,432 SF
      215 Mtn Dr Ste, Destin, FL 32541-2346
      View Details
    • Value Estimation by Request
      1,496 SF

      215 Mtn Dr Ste, Unit 106

      OFFICE BUILDING • 1,496 SF
      215 Mtn Dr Ste, Destin, FL 32541-2346
      View Details
    • Value Estimation by Request
      1,496 SF

      215 Mtn Dr Ste, Unit 107

      OFFICE BUILDING • 1,496 SF
      215 Mtn Dr Ste, Destin, FL 32541-2346
      View Details
    • Value Estimation by Request
      1,130 SF

      215 Mtn Dr Ste, Unit 111

      OFFICE BUILDING • 1,130 SF
      215 Mtn Dr Ste, Destin, FL 32541-2346
      View Details
    • Value Estimation by Request
      1,000 SF

      1209 Airport Rd Ste, Unit 8

      OFFICE BUILDING • 1,000 SF
      1209 Airport Rd Ste, Destin, FL 32541-2933
      View Details
    • Value Estimation by Request
      864 SF

      415 Mtn Dr Ste, Unit 8

      OFFICE BUILDING • 864 SF
      415 Mtn Dr Ste, Destin, FL 32541-2349
      View Details

    Similar Nearby for Sale

    • $3,740,200

      Destin Class A Office Building

      Fully leased Class A office building in Destin, Florida.
      4635 Gulfstarr Dr, Destin, FL 32541
      View Details
    • $2,995,000
      13,396 SF

      Destin Commercial Building For Sale

      Prime Destin location, 9,350 SF office space, ample parking.
      35000 Emerald Coast Pkwy, Destin, FL 32541
      View Details
    • $3,200,000
      11,340 SF

      Destin Office Building: Prime Location

      Class A, three-story office building; excellent visibility.
      4608 Opa Locka Ln, Destin, FL 32541
      View Details
    • $4,995,000

      Class A Office Building

      Exceptional Class A office building in Destin, Florida for sale.
      4458 Legendary Dr, Destin, FL 32541
      View Details
    • $1,100,000
      3,202 SF

      Harbor Blvd Commercial Office Buildings

      Two office buildings on 0.46 acres with parking.
      725 Harbor Blvd, Destin, FL 32541
      View Details
    • Contact for pricing

      Single-Story Office Building For Sale

      Spacious office building with front and rear parking.
      727 Harbor Blvd, Destin, FL 32541
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      4,220 SF

      Destin Office Building - 4,220 SF

      Class A office space, lease or buy.
      4608 Opa Locka Ln, Destin, FL 32541
      View Details
    • $1,288 /Mo
      920 SF

      Destin Office Space - Airport Road

      920 sq ft office, prime Destin location.
      978 Airport Rd, Destin, FL 32541
      View Details
    • $5,491 /Mo
      3,661 SF

      Destin Office Space For Lease

      Prime Destin location, 3,661 SF office/warehouse.
      101 Mattie M Kelly Blvd, Destin, FL 32541
      View Details
    • $30 SF/Yr
      1,246 SF

      Destin Office Suite - Lease Now

      Prime Destin office space, 1246 sq ft.
      36164 Emerald Coast Pkwy, Destin, FL 32541
      View Details
    • $8 SF/Yr
      24,170 SF

      Destin Commerce Center Office Space

      Prime office space in Destin, near retail and restaurants.
      34990 Emerald Coast Pkwy, Destin, FL 32541
      View Details
    • Contact for pricing

      Emerald Coast Parkway Freestanding Buildings

      Two well-built buildings with excellent visibility on Emerald Coast Parkway.
      36250 Emerald Coast Pkwy, Destin, FL 32541
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    151 Regions Way
    Destin, FL 32541-5106
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!