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Property profile & analytics
FOR LEASE
Banks
35008 Emerald Coast Pkwy 202 Destin, FL 32541
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-3073991
For Lease
1 / 6
$23 SF/Yr
35008 Emerald Coast Pkwy,Unit 202, Destin, FL 32541
View Listing →
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1995
Construction
STEEL FRAME
Total area
6,436 SF
Lot
1.35 ac (58,620 SF)
APN
00-2S-22-0000-0001-039F
UPID
US18-3073991
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
-
OWN, Inc. (formerly Anderson Engineering, Inc.) General Contractor
-
Hand Arendall Harrison Sale LLC - Destin Law Firm
-
Robin Glinka Physician
-
Hargroder Real Estate Group Real Estate Agency
-
Regions Trust Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.00M
Owner & transaction history
United Community Bank · 2 yrs held
United Community Bank
since 2024
Last sale
$4.0M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.8M
+603.1%
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
$4,000,000
ML approach
$4,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,755,000
Change: +603% · Conversion: Difficult
Blend value · Realmo final
$4.00M
Range $3.60M – $4.40M · ±10% · vs last sale $4.00M (Jan 2 2024)
Last sale anchor
$4.00M
Jan 2 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
$622 / 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
$32,519
Tax year 2023
Assessed value
$3,105,287
Assessed 2023
Previous assessed
$3,105,287
+0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$1,263,741
Assessed improvement
$1,841,546
Land market value
$1,263,741
Improvement market value
$1,841,546
Total market value
$3,105,287
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
Banks
Use group
FINANCIAL BUILDING
Status
For Lease
Year built
1995
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Rooms
13
Total area
6,436 SF
Lot
1.35 ac (58,620 SF)
APN
00-2S-22-0000-0001-039F
UPID
US18-3073991
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.8M
APARTMENT HOUSE (5+ UNITS)
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
1995
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Rooms
13
Lot
1.35 ac
Current owner
From public records · entity-resolved
United Community Bank
Entity
Mailing address
2 W WASHINGTON ST STE #700, GREENVILLE, SC 29601-4889
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 19, 2024
—
Ld Acquisition Company 19 LLC
—
Deed
related
$360,000 · Wilmington Trust NA
Mar 19, 2024
—
United Community Bank
Hargroder Holdings LLC
Re-recorded Document
related
—
Jan 2, 2024
$4,000,000
United Community Bank
Hargroder Holdings LLC
Special Warranty Deed
—
Mar 25, 2021
—
Ld Acquisition Company 19 LLC
—
Deed
related
$548,188 · Whitney Bank
Nov 26, 2018
—
Lmrk Propco 3 LLC
—
Deed
related
$294,000 · Wilmington Tr
Dec 20, 2016
—
Hargroder Holdings LLC
—
Deed Of Trust
related
$2,000,000 · First Partners Bk
—
—
Lmrk Propco 3 LLC
—
Deed Of Trust
related
$294,000 · Wilmington Tr
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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