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Property profile & analytics
OFF-MARKET
Estimated value
$5,205,000
Drug stores
4582 Hwy 20 Niceville, FL 32578-9724
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-5305774
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,786 SF
Lot
1.88 ac (81,900 SF)
APN
23-1S-22-0000-0001-0360
UPID
US18-5305774
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
$5.55M
CAP Approach
CAP
$3.49M
Comparable Approach
Comparable
$4.63M
Blend (final)
Blend
$5.21M
Owner & transaction history
Walgreen Co · 4 yrs held
Walgreen Co
since 2022
Last sale
$5.1M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$8.4M
+178.2%
Commercial (general)
$5.4M
+79.6%
Restaurant
$3.4M
+10.8%
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 Niceville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Niceville 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
$5,585,000
ML approach
$5,545,000
CAP Approach
CAP Return
Estimation
6%
$3,780,000
6.5%
$3,490,000
7%
$3,240,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,420,000
Change: +178% · Conversion: Easy
COMMERCIAL (GENERAL)
$5,435,000
Change: +80% · Conversion: Easy
RESTAURANT
$3,355,000
Change: +11% · Conversion: Easy
Blend value · Realmo final
$5.21M
Range $4.68M – $5.73M · ±10% · vs last sale $5.14M (Feb 11 2022)
Last sale anchor
$5.14M
Feb 11 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
$330 / 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
$27,371
Tax year 2023
Assessed value
$2,196,438
Assessed 2023
Previous assessed
$2,117,898
+3.7% YoY
Effective rate
1.25%
On assessed value
Assessed land
$1,095,883
Assessed improvement
$1,100,555
Land market value
$1,095,883
Improvement market value
$1,100,555
Total market value
$2,196,438
Applied tax rate
14.0000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
OTHER
Stories
1
Rooms
8
Total area
15,786 SF
Lot
1.88 ac (81,900 SF)
APN
23-1S-22-0000-0001-0360
UPID
US18-5305774
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
OFFICE BUILDING
Est. value
$8.4M
COMMERCIAL (GENERAL)
Est. value
$5.4M
RESTAURANT
Est. value
$3.4M
OFFICE BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
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
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
8
Lot
1.88 ac
Current owner
From public records · entity-resolved
Walgreen Co
Entity
Free & Clear · 4 yrs held
Mailing address
3333 PEACHTREE RD NE, ATLANTA, GA 30326-1070
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 11, 2022
—
Walgreen Co
Ds Niceville Fl Landlord LLC
Lease
—
Feb 11, 2022
$5,137,100
Ds Niceville Fl Landlord LLC
Walgreen Co
Special Warranty Deed
—
Oct 9, 2001
$800,000
Walgreen Co
Conrad Properties Of America
Grant Deed
—
Sep 11, 2000
$230,300
Visconti Family LP
Bluewater Commercial Developer
Grant Deed
—
Oct 29, 1999
$225,700
Visconti Family LP
Bluewater Commercial Dev INC
Grant Deed
—
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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