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Property profile & analytics
OFF-MARKET
Estimated value
$7,290,000
Retail properties & Spaces
6209 Hwy 90, Milton, FL 32570-1708
Individually Owned
3-yr Hold
Free & Clear
Property ID
US18-3366066
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
86,353 SF
Lot
18.28 ac (796,277 SF)
Zoning code
HCD
APN
09-1N-28-0000-00104-0000
UPID
US18-3366066
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
$6.91M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.22M
Blend (final)
Blend
$7.29M
Owner & transaction history
Waterstone Southeast Spartan Portfo · 3 yrs held
Waterstone Southeast Spartan Portfo
since 2022
Last sale
$8.4M
5 recorded transactions
Zoning & alternative use
HCD · Milton, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$10.2M
+127.4%
Office building
$5.1M
+14.9%
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 Milton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milton 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
$6,215,000
ML approach
$6,905,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$4,470,000
Current use
COMMERCIAL (GENERAL)
$10,165,000
Change: +127% · Conversion: Easy
OFFICE BUILDING
$5,135,000
Change: +15% · Conversion: Easy
Blend value · Realmo final
$7.29M
Range $6.56M – $8.02M · ±10% · vs last sale $8.38M (Nov 17 2022)
Last sale anchor
$8.38M
Nov 17 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
$84 / 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
$90,522
Tax year 2023
Assessed value
$6,189,147
Assessed 2023
Previous assessed
$6,701,648
-7.6% YoY
Effective rate
1.46%
On assessed value
Assessed land
$2,388,795
Assessed improvement
$3,800,352
Land market value
$2,388,795
Improvement market value
$3,800,352
Total market value
$6,189,147
Applied tax rate
3.0000
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Units
1
Rooms
10
Bathrooms
20
Total area
86,353 SF
Lot
18.28 ac (796,277 SF)
Zoning code
HCD
APN
09-1N-28-0000-00104-0000
UPID
US18-3366066
Jurisdiction
SANTA ROSA
Zoning & alternative use
HCD · Milton, FL
Zoning HCD · permitted uses
HCD · Milton, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Milton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.5M
COMMERCIAL (GENERAL)
Est. value
$10.2M
OFFICE BUILDING
Est. value
$5.1M
RETAIL STORES Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
1
Rooms
10
Bathrooms
20
Lot
18.28 ac
Current owner
From public records · entity-resolved
Waterstone Southeast Spartan Portfo
Individual
Free & Clear · 3 yrs held
Mailing address
250 1ST AVE STE #202, NEEDHAM, MA 02494-2886
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
Nov 17, 2022
—
Waterstone Southeast Spartan Portfo
Waterstone Southeast Portfolio LLC
Intrafamily Transfer
related
—
Oct 8, 2019
—
Waterstone Se Portfolio LLC
—
Deed
related
—
Jan 3, 2014
$8,375,000
Waterstone Southeast Portfolio LLC
6209-6275 U S Highway 90w LLC
Special Warranty Deed
$56,000,000 · Jpmorgan Chase Bank NA
May 2, 2011
—
6209-6275 Us Highway 90w LLC
—
Deed Of Trust
related
$9,100,000 · Anglo Irish Bank Corp
—
—
Waterstone Se Portfolio LLC
—
Loan Modification
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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