150 Azalea DrDestin, FL 32541

Property Details for 150 Azalea Dr

Year built

1985

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.24 AC

Property size (Sq ft)

4,289 SF

Property type

Commercial real estate

APN

00-2S-22-0626-0000-0130

APU

002S22062600000130

Description

This exceptional 4,029-square-foot office building in Destin, Florida, presents a unique investment opportunity. Built in 1985 and extensively renovated in 2007, the property boasts a blend of classic charm and modern functionality. Located at 150 Azalea Drive, this single-unit building is situated on the west side of Destin. Currently occupied by a local engineering firm, the space will be vacant upon sale, offering immediate occupancy potential for a new owner. The interior features a thoughtfully designed layout, including a spacious reception area, multiple executive offices, large collaborative workspaces, a 12-person conference table, four restrooms (one with a shower), ample storage, a kitchen, and a private outdoor patio. High-end finishes such as beautiful flooring and 12-foot ceilings with detailed trim work are showcased throughout. A significant portion of the existing furniture may be included in the sale. The property is part of a homeowner's association responsible for maintaining exterior common areas, with quarterly dues of $300. The asking price for this turnkey office space is $817,500. The property's APN is 00-2S-22-0626-0000-0130. This is a rare opportunity to acquire a well-maintained, high-quality office building in a desirable Destin location.

• CAP approach

  CAP return

  Valuation

  6%

  $658,330

  6.5%

  $607,689

  7%

  $564,283

• Comparable approach

  Method

  Valuation

  Relative Method

  $290,288

  Geo Method

  $304,905

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,148,920

  Retail / Commercial

  $598,455

  Mixed-Use / Specialty

  $603,646

  Hospitality / Lodging

  $452,412

  Office

  $607,689

  Institutional / Educational

  $630,167

  Residential Income

  $737,295

  Multifamily

  $843,666

  Automotive / Energy

  $540,143

  Parking / Income-Based Land

  $179,160

  Restaurant / Food Service

  $329,593

  Healthcare / Senior Housing

  $611,517

Location Insight

City

Destin

County

Okaloosa

State

Florida

Latitude

30.3972

Longitude

-86.5047

CBSA code

18880

CBSA name

CRESTVIEW-FORT WALTON BEACH-DESTIN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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