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Property profile & analytics
FOR SALE
Flex space
295 Azalea Dr Destin, FL 32541
Individually Owned
2-yr Hold
Property ID
US18-6506140
For Sale
$1,195,000
295 Azalea Dr, Destin, FL 32541
View Listing →
Property summary
AI-generated overview
Prime rare office/warehouse flex space in the heart of Destin along Azalea Drive. 3000 sq ft of office space on two floors with a total of 11 offices, 1 conference room, large reception foyer, break area and 2 bathrooms. The warehouse is 1500 sq ft with 20 ft ceilings and 12 ft roll up doors. Conveniently located with easy access to Hwy 98 and all points along the Emerald Coast.
Property profile
Verified
Property type
Flex space
Year built
2010
Total area
4,500 SF
UPID
US18-6506140
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
-
Medical WasteX Disposal Waste Management Facility
-
Water Management Consultants Business Management Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Thomas L Baldwin · 2 yrs held
Thomas L Baldwin
since 2023
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
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
Flex space
Status
For Sale
Year built
2010
Total area
4,500 SF
UPID
US18-6506140
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2010
Current owner
From public records · entity-resolved
Thomas L Baldwin
Individual
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
Nov 27, 2023
—
Thomas L Baldwin
Thomas L Baldwin
Deed
related
—
Feb 22, 2022
$612,500
H&m Peck Properties Ltd
Bormon Investment Group LLC
Warranty Deed
—
Apr 1, 2019
—
Thomas L Baldwin
—
Deed
related
$348,000 · First Florida Bank
Jan 7, 2019
$2,674
Bormon Investment Group LLC
Bormon Construction INC
Warranty Deed
—
Dec 19, 2017
$500,000
Bormon Construction INC
Jimway Properties LLC
Warranty Deed
$400,000 · Jimway Properties LLC
Oct 25, 2016
$305,000
Thomas L Baldwin
Eric Jenrich
Warranty Deed
$488,000 · Hancock 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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