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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Distribution centers
257 Azalea Dr Destin, FL 32541-7320
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-5209963
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1996
Construction
STEEL FRAME
Total area
7,320 SF
Lot
0.52 ac (22,757 SF)
APN
00-2S-22-0310-000E-E09E
UPID
US18-5209963
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
-
Sugar Sand Real Estate Services Real Estate Agency
-
Warner Mechanical Contractor General Contractor Construction Company
-
Cone Co Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$800k
CAP Approach
CAP
$765k
Comparable Approach
Comparable
$836k
Blend (final)
Blend
$800k
Owner & transaction history
Destin Laundry No 3 LLC · 2 yrs held
Destin Laundry No 3 LLC
since 2024
Last sale
$800,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.1M
+16.4%
Auto repair, garage
$1.1M
+14.7%
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
$800,000
ML approach
$800,000
CAP Approach
CAP Return
Estimation
6%
$830,000
6.5%
$765,000
7%
$710,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$985,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,145,000
Change: +16% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,130,000
Change: +15% · Conversion: Easy
Blend value · Realmo final
$800k
Range $720k – $880k · ±10% · vs last sale $800k (Feb 7 2024)
Last sale anchor
$800k
Feb 7 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
$109 / 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
$5,830
Tax year 2023
Assessed value
$488,006
Assessed 2023
Previous assessed
$488,006
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$188,415
Assessed improvement
$299,591
Land market value
$188,415
Improvement market value
$299,591
Total market value
$488,006
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1996
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Stories
1
Rooms
9
Total area
7,320 SF
Lot
0.52 ac (22,757 SF)
APN
00-2S-22-0310-000E-E09E
UPID
US18-5209963
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
WAREHOUSE, STORAGE Current
Est. value
$985,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
1996
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Rooms
9
Lot
0.52 ac
Current owner
From public records · entity-resolved
Destin Laundry No 3 LLC
Entity
Mailing address
PO BOX 18829, PANAMA CITY, FL 32417-8829
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 7, 2024
$800,000
Destin Laundry No 3 LLC
Vacation Rental Pros Property Mgmt
Warranty Deed
$680,000 · Cadence Bank NA
Feb 7, 2024
—
Vacation Rental Pros Property Mgmt
Indian Creek Of Destin INC
Correction Deed
related
$680,000 · Cadence Bank NA
Jun 6, 2022
$450,000
Vacation Rental Pros Property Mgmt
Southern Management Group INC
Quit Claim Deed
related
—
Sep 27, 2011
$345,000
S & V Ventures LLC
Indian Creek Of Destin INC
Warranty Deed
$241,500 · Trustmark National Bank
—
—
S & V Ventures LLC
—
Loan Modification
related
—
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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