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Property profile & analytics
OFF-MARKET
Estimated value
$3,995,000
Hotels
39 Scenic Gulf Dr, Miramar Beach, FL 32550-4938
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-3388360
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1996
Construction
FRAME
Total area
37,376 SF
Lot
1.55 ac (67,518 SF)
APN
33-2S-21-42660-000-0000
UPID
US18-3388360
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.15M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.00M
Owner & transaction history
Miramar Beach Hotel Partners LLC · 2 yrs held
Miramar Beach Hotel Partners LLC
since 2023
Last sale
$4.0M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.7M
+342.6%
Neighborhood: shopping center
$4.0M
+278.0%
Auto repair, garage
$3.5M
+231.0%
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 Miramar Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Miramar Beach 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
$3,830,000
ML approach
$4,150,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,690,000
Change: +343% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$4,005,000
Change: +278% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,505,000
Change: +231% · Conversion: Difficult
RESTAURANT
$3,480,000
Change: +229% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,520,000
Change: +138% · Conversion: Difficult
Blend value · Realmo final
$4.00M
Range $3.60M – $4.39M · ±10% · vs last sale $4.00M (Oct 3 2023)
Last sale anchor
$4.00M
Oct 3 2023
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
$107 / 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
$23,128
Tax year 2023
Assessed value
$2,545,362
Assessed 2023
Previous assessed
$249,547
+920.0% YoY
Effective rate
0.91%
On assessed value
Assessed improvement
$2,545,362
Improvement market value
$2,545,362
Total market value
$2,545,362
Applied tax rate
7.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1996
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
2
Rooms
6
Bathrooms
3
Total area
37,376 SF
Lot
1.55 ac (67,518 SF)
APN
33-2S-21-42660-000-0000
UPID
US18-3388360
Jurisdiction
WALTON
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
OFFICE BUILDING
Est. value
$4.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.0M
AUTO REPAIR, GARAGE
Est. value
$3.5M
RESTAURANT
Est. value
$3.5M
INDUSTRIAL (GENERAL)
Est. value
$2.5M
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
RESTAURANT
INDUSTRIAL (GENERAL)
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
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Rooms
6
Bathrooms
3
Lot
1.55 ac
Current owner
From public records · entity-resolved
Miramar Beach Hotel Partners LLC
Entity
Mailing address
4100 LEGENDARY DR, DESTIN, FL 32541-8601
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 3, 2023
$4,000,000
Miramar Beach Hotel Partners LLC
Chauhan INC
Warranty Deed
$15,600,000 · Live Oak Banking Company
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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