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Property profile & analytics
OFF-MARKET
Estimated value
$595,000
Warehouses
295 Azalea Dr 2 Destin, FL 32541-7368
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US19-0714715
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2006
Construction
STEEL FRAME
Total area
4,890 SF
Lot
0.07 ac (3,000 SF)
APN
00-2S-22-1144-0000-0020
UPID
US19-0714715
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
$570k
CAP Approach
CAP
$510k
Comparable Approach
Comparable
$734k
Blend (final)
Blend
$595k
Owner & transaction history
H&m Peck Properties Ltd · 4 yrs held
H&m Peck Properties Ltd
since 2022
Last sale
$612,500
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$980,000
+49.1%
Neighborhood: shopping center
$765,000
+16.4%
Auto repair, garage
$755,000
+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
$665,000
ML approach
$570,000
CAP Approach
CAP Return
Estimation
6%
$555,000
6.5%
$510,000
7%
$475,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$660,000
Current use
OFFICE BUILDING
$980,000
Change: +49% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$765,000
Change: +16% · Conversion: Moderate
AUTO REPAIR, GARAGE
$755,000
Change: +15% · Conversion: Easy
Blend value · Realmo final
$595k
Range $536k – $655k · ±10% · vs last sale $613k (Feb 22 2022)
Last sale anchor
$613k
Feb 22 2022
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
$122 / 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
$5,878
Tax year 2023
Assessed value
$492,023
Assessed 2023
Previous assessed
$464,841
+5.8% YoY
Effective rate
1.19%
On assessed value
Assessed land
$106,913
Assessed improvement
$385,110
Land market value
$106,913
Improvement market value
$385,110
Total market value
$492,023
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2006
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Stories
2
Units
1
Rooms
10
Total area
4,890 SF
Lot
0.07 ac (3,000 SF)
APN
00-2S-22-1144-0000-0020
UPID
US19-0714715
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
$660,000
OFFICE BUILDING
Est. value
$980,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$765,000
AUTO REPAIR, GARAGE
Est. value
$755,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
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
2006
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
2
Units
1
Rooms
10
Lot
0.07 ac
Current owner
From public records · entity-resolved
H&m Peck Properties Ltd
Entity
Free & Clear · 4 yrs held
Mailing address
1620 E STATE HWY 121, LEWISVILLE, TX 75056-4800
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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 22, 2022
$612,500
H&m Peck Properties Ltd
Bormon Investment Group LLC
Warranty Deed
—
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
Apr 6, 2006
$525,000
Jimway Properties LLC
Ground Up Development LLC
Warranty Deed
$410,000 · First National Bank Of Florida
—
—
Jimway Properties LLC
—
Loan Modification
related
$318,723 · Charterbank
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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