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Property profile & analytics
OFF-MARKET
Estimated value
$1,300,000
Office buildings
178 Geronimo St Miramar Beach, FL 32550-4062
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-6034555
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2004
Construction
STEEL FRAME
Total area
5,254 SF
Lot
0.82 ac (35,676 SF)
APN
28-2S-21-42800-000-0010
UPID
US18-6034555
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
$1.30M
CAP Approach
CAP
$1.09M
Comparable Approach
Comparable
$857k
Blend (final)
Blend
$1.30M
Owner & transaction history
Indevco Development LLC · 2 yrs held
Indevco Development LLC
since 2024
Last sale
$1.3M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.7M
+60.4%
Restaurant
$1.6M
+48.3%
Commercial (general)
$1.5M
+41.5%
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
$1,300,000
ML approach
$1,300,000
CAP Approach
CAP Return
Estimation
6%
$1,175,000
6.5%
$1,085,000
7%
$1,010,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,055,000
Current use
RETAIL STORES
$1,690,000
Change: +60% · Conversion: Moderate
RESTAURANT
$1,560,000
Change: +48% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,490,000
Change: +41% · Conversion: Easy
Blend value · Realmo final
$1.30M
Range $1.17M – $1.43M · ±10% · vs last sale $1.30M (Feb 21 2024)
Last sale anchor
$1.30M
Feb 21 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
$247 / 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
$5,459
Tax year 2023
Assessed value
$667,417
Assessed 2023
Previous assessed
$667,417
+0.0% YoY
Effective rate
0.82%
On assessed value
Assessed land
$258,336
Assessed improvement
$409,081
Land market value
$258,336
Improvement market value
$409,081
Total market value
$667,417
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2004
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
8
Bathrooms
2
Total area
5,254 SF
Lot
0.82 ac (35,676 SF)
APN
28-2S-21-42800-000-0010
UPID
US18-6034555
Jurisdiction
WALTON
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
OFFICE BUILDING Current
Est. value
$1.1M
RETAIL STORES
Est. value
$1.7M
RESTAURANT
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.5M
OFFICE BUILDING Current
RETAIL STORES
RESTAURANT
COMMERCIAL (GENERAL)
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
2004
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
8
Bathrooms
2
Lot
0.82 ac
Current owner
From public records · entity-resolved
Indevco Development LLC
Entity
Free & Clear · 2 yrs held
Mailing address
550 SATELLITE BLVD NE, SUWANEE, GA 30024-7153
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 21, 2024
$1,300,000
Indevco Development LLC
Double D Real Estate LLC
Warranty Deed
—
Aug 19, 2014
$540,000
Double D Real Estate LLC
Gtc Performance Improvement
Grant Deed
—
Sep 6, 2012
—
Gtc Performance Improvement
Gary Tilkin Consultants INC
Quit Claim Deed
related
—
Jan 12, 2012
$375,000
Gary Tilkin Consultants INC
Ronco Electric INC
Warranty Deed
—
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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