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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Commercial real estate
51 3rd St Shalimar, FL 32579-1767
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-3561061
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1985
Construction
FRAME
Total area
3,276 SF
Lot
3.66 ac (159,566 SF)
APN
05-2S-23-2080-0067-0010
UPID
US18-3561061
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
-
Colsa Corporation Professional Services
-
B3H Corporation Business Management Consultant
-
Northwest Florida Behavioral Consultants Association / Organization
-
Abacus Technology Corporation Professional Services
-
CCI Solutions of Alaska LLC Government
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$525k
CAP Approach
CAP
$610k
Comparable Approach
Comparable
$712k
Blend (final)
Blend
$615k
Owner & transaction history
Shalimar Hotel Investment LLC · 2 yrs held
Shalimar Hotel Investment LLC
since 2024
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Shalimar submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Shalimar 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
by Request
ML approach
$525,000
CAP Approach
CAP Return
Estimation
6%
$665,000
6.5%
$610,000
7%
$570,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$805,000
Current use
Blend value · Realmo final
$615k
Range $554k – $677k · ±10%
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
$188 / 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
$18,196
Tax year 2023
Assessed value
$1,469,752
Assessed 2023
Previous assessed
$1,469,752
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$496,515
Assessed improvement
$973,237
Land market value
$496,515
Improvement market value
$973,237
Total market value
$1,469,752
Applied tax rate
12.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1985
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
11
Stories
1
Rooms
10
Total area
3,276 SF
Lot
3.66 ac (159,566 SF)
APN
05-2S-23-2080-0067-0010
UPID
US18-3561061
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
COMMERCIAL (GENERAL) Current
Est. value
$805,000
COMMERCIAL (GENERAL) Current
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
1985
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
11
Rooms
10
Lot
3.66 ac
Current owner
From public records · entity-resolved
Shalimar Hotel Investment LLC
Entity
Free & Clear · 2 yrs held
Mailing address
100 CHURCH ST SW STE #400, HUNTSVILLE, AL 35801-5060
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 20, 2024
—
Shalimar Hotel Investment LLC
Florence Hotel Company LLC
Warranty Deed
—
Nov 1, 2022
$1,850,000
Florence Hotel Company LLC
Tech Center Of Shalimar LLC
Warranty Deed
—
Jul 18, 2018
—
Tech Center Of Shalimar LLC
Tech Center Ptshp
Quit Claim Deed
—
Sep 18, 2012
—
Tech Center Ptshp
Spence,walter F
Quit Claim Deed
related
—
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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