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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    998 County Hwy 283rd N Santa Rosa Beach, FL 32459

    • Warehouses
    • 5,808 SF
    • 1.23 lot acres
    OFF-MARKET
    Last Sale
    Sep 17, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-7107029
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 998 County Hwy 283rd N

    Year built
    2023
    Lot size
    1.23 lot acres
    Property size
    5,808 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    28-2S-19-24150-00E-0120
    APU
    282S192415000E0120

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Santa Rosa Beach
    County
    Walton
    State
    Florida
    Longitude
    -86.1532
    Latitude
    30.3734
    CBSA code
    18880
    CBSA name
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $922
    $100,000
    $1,450
    $101,450
    -
    $100,000
    $1,450
    $101,450

    Comparable in this City

    • Value Estimation
      $1,145,000
      9,030 SF

      322 Lynn Dr

      MINI-WAREHOUSE, STORAGE • 9,030 SF
      322 Lynn Dr, Santa Rosa Beach, FL 32459-4201
      View Details
    • Value Estimation
      $965,000
      7,296 SF

      625 Serenoa Rd

      MINI-WAREHOUSE, STORAGE • 7,296 SF
      625 Serenoa Rd, Santa Rosa Beach, FL 32459-5045
      View Details
    • Value Estimation
      $880,000
      10,000 SF

      605 County Hwy 393

      MINI-WAREHOUSE, STORAGE • 10,000 SF
      605 County Hwy 393, Santa Rosa Beach, FL 32459-5389
      View Details
    • Value Estimation
      $8,365,000
      99,367 SF

      250 Grayton Vlg Rd

      MINI-WAREHOUSE, STORAGE • 99,367 SF
      250 Grayton Vlg Rd, Santa Rosa Beach, FL 32459
      View Details
    • Value Estimation
      $845,000
      8,400 SF

      1300 County Hwy 283rd S

      MINI-WAREHOUSE, STORAGE • 8,400 SF
      1300 County Hwy 283rd S, Santa Rosa Beach, FL 32459-5710
      View Details
    • Value Estimation
      $1,570,000
      11,900 SF

      24 County Hwy 83

      MINI-WAREHOUSE, STORAGE • 11,900 SF
      24 County Hwy 83, Santa Rosa Beach, FL 32459
      View Details

    Similar Nearby for Sale

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      Blue Mountain Beach Warehouse Space

      2,520 sq ft warehouse in residential Blue Mountain Beach.
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      Santa Rosa Beach Warehouse/Showroom/Office

      14,000+ SF warehouse, showroom, and office space for sale.
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    • $3,500,000
      0.67 Acres

      Seagrove Mixed-Use Development Opportunity

      Mixed-use development opportunity in Seagrove, currently a self-storage facility.
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    • $4,400,000

      Modern Retail/Flex Building For Sale

      9,791 SF retail/flex building with highway frontage near Gulf.
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      New Flex Space in Development

      6,000 SF flex space for sale or lease.
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    • $785,000

      Coastal Homesite in Churchill Oaks

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    Similar Nearby for Lease

    • $18 SF/Yr
      2,500 SF

      Santa Rosa Beach Warehouse Space

      Versatile warehouse space with mezzanine and easy access to major routes.
      605 N Co Hwy, Santa Rosa Beach, FL 32459
      View Details
    • $110,000

      New Warehouses Under Construction

      70,460 SF in Santa Rosa Beach, available September 2025.
      70 460 Sf Serenoa Rd, Santa Rosa Beach, FL 32459
      View Details
    • $23 SF/Yr
      19,100 SF

      Santa Rosa Beach Warehouse Space

      Industrial warehouse space available for lease in Santa Rosa Beach.
      56 Gordonia Way, Santa Rosa Beach, FL 32459
      View Details
    • $20 SF/Yr
      30,000 SF

      Santa Rosa Beach Warehouse Space

      30,000 sqft warehouse space available for lease.
      217 Serenoa Rd, Santa Rosa Beach, FL 32459
      View Details
    • $12,119 /Mo
      11,246 SF

      Santa Rosa Beach Warehouse Space

      Available warehouse space in Santa Rosa Beach, Florida.
      98 New Plz Hwy W, Santa Rosa Beach, FL 32459
      View Details
    • $22 SF/Yr
      3,000 SF

      Santa Rosa Beach Flex Space Building

      3,000 SF Flex Space; NNN Lease
      322 - 291 Goldsby Rd, Santa Rosa Beach, FL 32459
      View Details
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    Santa Rosa Beach, FL 32459
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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