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    Property profile & analytics

    34761 Emerald Coast Pkwy Destin, FL 32541

    • Retail space
    • 13,318 SF
    • 3.02 lot acres
    For Lease
    View listing
    $35 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1872363
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Sleep Number / Bedroom Furniture Store / Furniture Store
    • Mr. & Mrs. Scotches Restaurant & Bar / Restaurant
    • Scotches Bar & Grill / Restaurant
    • Scotches Restaurant & Bar / Restaurant
    • Mr. & Mrs. Scotches / Restaurant

    Property Details for 34761 Emerald Coast Pkwy

    Year built
    2016
    Construction
    STEEL FRAME
    Lot size
    3.02 lot acres
    Property size
    13,318 SF
    Property type
    Retail space
    APN
    00-2S-22-0000-0001-A240
    APU
    002S2200000001A240

    Description

    This exceptional 10,753 square foot retail/restaurant strip center is ideally situated on Emerald Coast Parkway (Highway 98) in Destin, Florida. Built in 2016, the single-story building sits on a 1.84-acre lot (79,983 square feet) and is zoned MU-2. Currently, 7,357 square feet of space is available for lease, with a minimum divisible unit of 3,617 square feet and a maximum contiguous space of 3,740 square feet. The property boasts excellent visibility and accessibility, experiencing traffic exceeding 55,000 vehicles daily. Benefit from strong national co-tenancy with Sleep Number and Curaleaf, ensuring high foot traffic and brand synergy. This prime location is within Destin's main retail corridor, surrounded by other national retailers and restaurants. The center enjoys a strategic position across from Plantation Commons shopping center, a major retail hub featuring anchors such as Fresh Market, Home Depot, Marshalls, and HomeGoods. Furthermore, the property benefits from its proximity to the Kelly Plantation neighborhood, a prestigious residential golf community. This presents a unique opportunity for businesses seeking high visibility and a strong customer base in a thriving Destin location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,190,000
      6.5%
      $2,945,000
      7%
      $2,735,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,651,000
      Market price range: $481k - $3.03M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Destin
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.436
    Latitude
    30.3879
    CBSA code
    18880
    CBSA name
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $36,949
    $1,984,500
    $1,491,386
    $3,475,886
    -
    $1,984,500
    $1,491,386
    $3,475,886

    Comparable in this City

    • Value Estimation
      $1,350,000
      6,774 SF

      409 Hbr Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,774 SF
      409 Hbr Blvd, Destin, FL 32541-2300
      View Details
    • Value Estimation
      $3,160,000
      3,773 SF

      34907 Emerald Coast Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 3,773 SF
      34907 Emerald Coast Pkwy, Destin, FL 32541-3446
      View Details
    • Value Estimation
      $795,000
      5,230 SF

      519 Mtn Dr

      RETAIL STORES (PERSONAL SERVICES) • 5,230 SF
      519 Mtn Dr, Destin, FL 32541-2331
      View Details
    • Value Estimation by Request
      2,656 SF

      9 Calhoun Ave, Unit B

      RETAIL STORES (PERSONAL SERVICES) • 2,656 SF
      9 Calhoun Ave, Destin, FL 32541-1501
      View Details
    • Value Estimation
      $650,000
      3,198 SF

      209 Main St Sta, Unit A

      RETAIL STORES (PERSONAL SERVICES) • 3,198 SF
      209 Main St Sta, Destin, FL 32541-2503
      View Details
    • Value Estimation by Request
      5,761 SF

      300 Mtn Dr

      RETAIL STORES (PERSONAL SERVICES) • 5,761 SF
      300 Mtn Dr, Destin, FL 32541-2337
      View Details

    Similar Nearby for Sale

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      Emerald Coast Office/Retail Space

      1,086 SF office/retail space near Destin's attractions and beaches.
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    Similar Nearby for Lease

    • $1,500 /Mo

      Retail Space For Rent

      Retail space available for lease.
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      Destin Retail/Office Space Available

      900 SF retail/office space for lease in Destin, Florida.
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    • $27 SF/Yr
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      Retail Space in Destin Corridor

      Prime retail space in Destin's high-traffic retail corridor.
      981 S 98, Destin, FL 32541
      View Details
    • $26 SF/Yr
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      Prime Commercial Space in Destin

      Class A commercial property in Destin, Florida, with high visibility.
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      Class A Commercial Building Destin

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    • Contact for pricing

      Prime Retail Land in Destin

      Retail outparcels available in high-traffic Destin, Florida.
      Us Highway 98, Destin, FL 32541
      View Details
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    Destin, FL 32541
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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