Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,185,000
Distribution centers
4640 Gulfstarr Dr Destin, FL 32541-3715
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-4068357
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2000
Construction
STEEL FRAME
Total area
7,860 SF
Lot
0.4 ac (17,351 SF)
APN
00-2S-22-2380-0000-0210
UPID
US18-4068357
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
-
Active Marketing Industrial Manufacturer Production Facility
-
Villages of Crystal Beach by Vacasa Security Service Construction Company
-
Caribe HOA Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.20M
CAP Approach
CAP
$820k
Comparable Approach
Comparable
$1,000k
Blend (final)
Blend
$1.19M
Owner & transaction history
Cabac Industries LLC · 1 yrs held
Cabac Industries LLC
since 2025
Last sale
$1.6M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.7M
+58.0%
Office building
$1.6M
+49.1%
Neighborhood: shopping center
$1.2M
+16.4%
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
$1,200,000
ML approach
$1,200,000
CAP Approach
CAP Return
Estimation
6%
$890,000
6.5%
$820,000
7%
$765,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,055,000
Current use
RESTAURANT
$1,670,000
Change: +58% · Conversion: Difficult
OFFICE BUILDING
$1,575,000
Change: +49% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,230,000
Change: +16% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,210,000
Change: +15% · Conversion: Easy
Blend value · Realmo final
$1.19M
Range $1.07M – $1.30M · ±10% · vs last sale $1.60M (Nov 24 2024)
Last sale anchor
$1.60M
Nov 24 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
$151 / 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
$6,831
Tax year 2023
Assessed value
$583,198
Assessed 2023
Previous assessed
$583,198
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$192,823
Assessed improvement
$390,375
Land market value
$192,823
Improvement market value
$390,375
Total market value
$583,198
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2000
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Stories
1
Total area
7,860 SF
Lot
0.4 ac (17,351 SF)
APN
00-2S-22-2380-0000-0210
UPID
US18-4068357
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
$1.1M
RESTAURANT
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.2M
WAREHOUSE, STORAGE Current
RESTAURANT
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
2000
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
Cabac Industries LLC
Entity
Mailing address
2940 HWY 11, PELHAM, AL 35124-2926
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 24, 2025
$1,600,000
Cabac Industries LLC
G & S Properties LLC
Warranty Deed
$1,319,094 · Troy Bank & Trust Co
Jan 16, 2024
$1,200,000
G & S Properties LLC
Midpoint Group LP
Warranty Deed
$960,000 · Firstbank
Mar 19, 2013
$450,000
Midpoint LP
Gulfstarr Properties LLC
Warranty Deed
$382,500 · Enterprise Bank & Trust
Jun 4, 1997
$269,700
Properties Nw Florida Classic
Sunsail Plaza Dev
Grant Deed
$199,700 · Regions Bank
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 4640 Gulfstarr Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
