Back to Search
Property profile & analytics
FOR LEASE
Medical Office Space
8888 Navarre Pkwy Navarre, FL 32566
Individually Owned
18-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-3306858
For Lease
1 / 2
$3,120,000
8888 Navarre Pkwy, Navarre, FL 32566
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1998
Construction
STEEL FRAME
Total area
21,567 SF
Lot
5.56 ac (242,106 SF)
Zoning code
HCD
APN
21-2S-26-0780-0AA02-0000
UPID
US18-3306858
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.97M
Blend (final)
Blend
$3.12M
Owner & transaction history
Paul Hilbert Dmp Pa · 18 yrs held
Paul Hilbert Dmp Pa
since 2007
2 recorded transactions
Zoning & alternative use
HCD · Navarre, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.5M
+24.4%
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 Navarre submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Navarre 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,655,000
Current use
RESTAURANT
$4,545,000
Change: +24% · Conversion: Difficult
RETAIL STORES
$3,315,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$3.12M
Range $2.81M – $3.43M · ±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
$145 / 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
$57,504
Tax year 2023
Assessed value
$4,860,199
Assessed 2023
Previous assessed
$4,187,376
+16.1% YoY
Effective rate
1.18%
On assessed value
Assessed land
$1,452,642
Assessed improvement
$3,407,557
Land market value
$1,452,642
Improvement market value
$3,407,557
Total market value
$4,860,199
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1998
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
70
Bathrooms
13
Total area
21,567 SF
Lot
5.56 ac (242,106 SF)
Zoning code
HCD
APN
21-2S-26-0780-0AA02-0000
UPID
US18-3306858
Jurisdiction
SANTA ROSA
Zoning & alternative use
HCD · Navarre, FL
Zoning HCD · permitted uses
HCD · Navarre, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Navarre. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$3.7M
RESTAURANT
Est. value
$4.5M
RETAIL STORES
Est. value
$3.3M
MEDICAL BUILDING Current
RESTAURANT
RETAIL STORES
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
1998
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
70
Bathrooms
13
Lot
5.56 ac
Current owner
From public records · entity-resolved
Paul Hilbert Dmp Pa
Individual
Mailing address
125 BAPTIST WAY STE 6A, PENSACOLA, FL 32503-2274
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 6, 2007
$489,500
Paul Hilbert Dmp Pa
Hplex IV LLC
Warranty Deed
$416,500 · Bank Of Pensacola
Dec 5, 2003
$2,504,200
Baptist Health Ventures INC
Hr Acquisition I Corp
Grant Deed
$2,536,000 · Bank Of Pensacola
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?”
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.
