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Property profile & analytics
OFF-MARKET
Estimated value
$3,370,000
Retail space
2509 Hwy 87 Navarre, FL 32566-2435
Individually Owned
3-yr Hold
Free & Clear
Property ID
US18-3769680
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
2022
Construction
STEEL FRAME
Total area
26,192 SF
Lot
3.82 ac (166,573 SF)
Zoning code
HCD
APN
08-2S-26-0000-00420-0000
UPID
US18-3769680
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
$4.34M
Comparable Approach
Comparable
$3.61M
Blend (final)
Blend
$3.37M
Owner & transaction history
Douglas C Lee · 3 yrs held
Douglas C Lee
since 2023
6 recorded transactions
Zoning & alternative use
HCD · Navarre, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.5M
+37.2%
Medical building
$4.4M
+10.3%
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 Navarre submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Navarre 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%
$4,695,000
6.5%
$4,335,000
7%
$4,025,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,025,000
Current use
RESTAURANT
$5,520,000
Change: +37% · Conversion: Easy
MEDICAL BUILDING
$4,440,000
Change: +10% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,435,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$3.37M
Range $3.03M – $3.71M · ±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
$129 / 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
$37,009
Tax year 2023
Assessed value
$2,742,575
Assessed 2023
Previous assessed
$556,249
+393.0% YoY
Effective rate
1.35%
On assessed value
Assessed land
$569,400
Assessed improvement
$2,173,175
Land market value
$569,400
Improvement market value
$2,173,175
Total market value
$2,742,575
Applied tax rate
12.0000
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
Retail space
Use group
STORE, RETAIL OUTLET
Status
Off-Market
Year built
2022
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
5
Bathrooms
2
Total area
26,192 SF
Lot
3.82 ac (166,573 SF)
Zoning code
HCD
APN
08-2S-26-0000-00420-0000
UPID
US18-3769680
Jurisdiction
SANTA ROSA
Zoning & alternative use
HCD · Navarre, FLZoning HCD · permitted uses
HCD · Navarre, FL
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
RETAIL STORES Current
Est. value
$4.0M
RESTAURANT
Est. value
$5.5M
MEDICAL BUILDING
Est. value
$4.4M
COMMERCIAL (GENERAL)
Est. value
$3.4M
RETAIL STORES Current
RESTAURANT
MEDICAL BUILDING
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
2022
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
5
Bathrooms
2
Lot
3.82 ac
Current owner
From public records · entity-resolved
Douglas C Lee
Individual
Free & Clear · 3 yrs held
Mailing address
23799 MONTEREY SALINAS HWY APT #19, SALINAS, CA 93908-9328
Ownership since
2023
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
Feb 8, 2023
—
Douglas C Lee
Hsc Navarre LLC
Assignment Of Deed
—
Nov 21, 2022
$7,943,232
Douglas C Lee
Hsc Navarre LLC
Special Warranty Deed
$3,868,354 · Legacy Bank & Trust Co
Apr 19, 2022
$400,000
Hsc Navarre LLC
Merle C Rhodes
Warranty Deed
—
Nov 6, 2015
$170,000
Merle Rhodes
Raa3 LLC
Warranty Deed
$144,500 · Coastal Bk&tr
Jan 13, 2015
$93,000
Raa 3 LLC
Clerk Of Santa Rosa County
Tax Deed
related
—
—
—
Kwik Shop INC
—
Deed Of Trust
related
$297,500 · Regions 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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