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Property profile & analytics
OFF-MARKET
Estimated value
$5,330,000
Banks
2000 98th Palms Blvd Destin, FL 32541-2724
Individually Owned
4-yr Hold
Free & Clear
Property ID
US18-3796713
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2002
Construction
STEEL FRAME
Total area
31,704 SF
Lot
2.4 ac (104,544 SF)
APN
00-2S-22-0000-0013-0200
UPID
US18-3796713
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
-
FedEx Drop Box Postal Service Courier Service
-
First Florida Wealth - Raymond James Financial Advisor
-
Maria R. Lahti, MD Physician
-
Destin First Bank Bank Loan Service
-
First Florida Bank, A Division of The First, ANBA Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.34M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.33M
Owner & transaction history
The First Anba · 4 yrs held
The First Anba
since 2021
Last sale
$5.3M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.7M
+191.7%
Office building
$7.0M
+165.7%
Neighborhood: shopping center
$4.1M
+57.2%
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
$5,390,000
ML approach
$6,335,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$7,675,000
Change: +192% · Conversion: Difficult
OFFICE BUILDING
$6,990,000
Change: +166% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,135,000
Change: +57% · Conversion: Difficult
RETAIL STORES
$3,720,000
Change: +41% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,710,000
Change: +41% · Conversion: Difficult
RESTAURANT
$3,405,000
Change: +29% · Conversion: Difficult
Blend value · Realmo final
$5.33M
Range $4.80M – $5.86M · ±10% · vs last sale $5.30M (Aug 20 2021)
Last sale anchor
$5.30M
Aug 20 2021
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
$168 / 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
$40,592
Tax year 2023
Assessed value
$3,397,932
Assessed 2023
Previous assessed
$3,292,921
+3.2% YoY
Effective rate
1.19%
On assessed value
Assessed land
$856,713
Assessed improvement
$2,541,219
Land market value
$856,713
Improvement market value
$2,541,219
Total market value
$3,397,932
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2002
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
OTHER
Stories
3
Rooms
29
Total area
31,704 SF
Lot
2.4 ac (104,544 SF)
APN
00-2S-22-0000-0013-0200
UPID
US18-3796713
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
COMMERCIAL (GENERAL)
Est. value
$7.7M
OFFICE BUILDING
Est. value
$7.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.1M
RETAIL STORES
Est. value
$3.7M
WAREHOUSE, STORAGE
Est. value
$3.7M
RESTAURANT
Est. value
$3.4M
COMMERCIAL (GENERAL)
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
WAREHOUSE, STORAGE
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
2002
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
3
Rooms
29
Lot
2.4 ac
Current owner
From public records · entity-resolved
The First Anba
Individual
Free & Clear · 4 yrs held
Mailing address
6480 U S HWY 98, HATTIESBURG, MS 39402-8417
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 20, 2021
$5,300,000
The First Anba
Bhcre I LLC
Warranty Deed
—
Aug 23, 2002
$6,219,000
Bhcre I LLC
Destin Bank
Grant Deed
$6,219,000 · National Bank Commerce Tr & Sa
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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