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Property profile & analytics
OFF-MARKET
Estimated value
$3,835,000
Strip malls
2001 98th Palms Blvd Destin, FL 32541-2730
Trust Owned
13-yr Hold
Free & Clear
Property ID
US18-6902557
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2017
Construction
STEEL FRAME
Total area
17,182 SF
Lot
3.34 ac (145,351 SF)
APN
00-2S-22-0000-0013-0270
UPID
US18-6902557
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
$4.03M
Blend (final)
Blend
$3.84M
Owner & transaction history
B & P P Trust · 13 yrs held
B & P P Trust
since 2012
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$6.1M
+126.9%
Commercial (general)
$4.8M
+78.4%
Restaurant
$3.7M
+35.7%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,690,000
Current use
RETAIL STORES
$6,100,000
Change: +127% · Conversion: Easy
COMMERCIAL (GENERAL)
$4,795,000
Change: +78% · Conversion: Easy
RESTAURANT
$3,650,000
Change: +36% · Conversion: Difficult
OFFICE BUILDING
$3,445,000
Change: +28% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,650,000
Change: -1% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,310,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$3.84M
Range $3.45M – $4.22M · ±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
$223 / 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
$33,292
Tax year 2023
Assessed value
$2,786,818
Assessed 2023
Previous assessed
$2,633,608
+5.8% YoY
Effective rate
1.19%
On assessed value
Assessed land
$985,145
Assessed improvement
$1,801,673
Land market value
$985,145
Improvement market value
$1,801,673
Total market value
$2,786,818
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2017
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
OTHER
Buildings
2
Stories
1
Units
4
Rooms
12
Total area
17,182 SF
Lot
3.34 ac (145,351 SF)
APN
00-2S-22-0000-0013-0270
UPID
US18-6902557
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.7M
RETAIL STORES
Est. value
$6.1M
COMMERCIAL (GENERAL)
Est. value
$4.8M
RESTAURANT
Est. value
$3.7M
OFFICE BUILDING
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$2.7M
WAREHOUSE, STORAGE
Est. value
$2.3M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2017
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
4
Rooms
12
Lot
3.34 ac
Current owner
From public records · entity-resolved
B & P P Trust
Trust
Free & Clear · 13 yrs held
Mailing address
5301 WASHINGTONIAN DR, METAIRIE, LA 70003-2522
Ownership since
2012
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
Sep 21, 2012
$540,000
B & P P Trust
Tspfl Holding LLC
Grant Deed
—
Jul 14, 2010
$864,000
Tspfl Holding LLC
District 98 Ltd
Warranty Deed
—
May 10, 2005
$1,000,000
District 98 Ltd
98 Palms Ltd
Warranty Deed
—
—
—
Peter Tufaro
—
Deed Of Trust
related
$1,200,000 · Whitney Bk
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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