Crestview Restaurant
For Sale
Contact for pricing
1025 Industrial Drive, Crestview, FL 32539
Operating restaurant on 1.56 acres in fast-growing area.
Property Size7,140 SF
Lot Size1.56 Acres
Price / SF$448.18
Days on Market170
Property Features for 1025 Industrial Drive
General Information
Standard status
Active
Size
7,140 SF
Lot size
1.56 Acres
Property subtype
Retail
Building Details
Tenancy
Single
Listing Agency:
NBI Properties
(850) 243-0007
Listed By:
Craig Barrett · License #FL 3294646
Source:
Crexi
Added: Feb 23
Changed: Aug 8
Last Checked: Aug 11 at 7:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NBI Properties
Investment Insights
Based on property information with market context.
This 7,140 square-foot restaurant in Crestview, Florida, currently operating as El Paso Tacos and Tequila, is available for purchase. The property, which includes furniture, fixtures, and equipment (FFE), is situated on 1.56 acres in a rapidly developing area. The existing restaurant facility presents an opportunity for a new owner.
Key Highlights
- 7140 SF Restaurant in a fast‑growing area
- Includes Furniture, Fixtures, and Equipment (FFE)
- Currently operating as El Paso Tacos and Tequila
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$192,606
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,852,120
$3.9M
Cap Rate 7%
$2,751,514
$2.8M
Cap Rate 9%
$2,140,067
$2.1M
Market Conditions
NOI Build-Up for 7,140 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$264.8K $37.08/SF
− Vacancy
−$7.9K −$1.11/SF
EGI
$256.8K $35.97/SF
− OpEx
−$64.2K −$8.99/SF
NOI
$192.6K $26.98/SF
Area
Okaloosa County, FL
Vacancy
3.00%
Lease Rate
$37.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,852,120
Cap Rate 7%
$2,751,514
Cap Rate 9%
$2,140,067
Alternative Uses
Best Use
Specialty Retail
$2.75M
$2.41M – $3.21M
NOI $192,606 @ 7.0% cap · market cap 6.02%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
49k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 84%
Shops & Services 16%
SONIC Drive In
Dining
12,855 visits/mo
0.4 miles
Taco Bell
Dining
10,670 visits/mo
0.4 miles
Waffle House
Dining
7,170 visits/mo
0.2 miles
Little Caesars Pizza
Dining
4,888 visits/mo
0.1 miles
Shell
Shops & Services
4,162 visits/mo
0.5 miles
Demographics for 32539, FL
31,749
Population
12,642
Households
2.5
Avg Household Size
37
Median Age
24%
College-Educated
93%
High-School Grad
127.9 sq mi
ZIP Area
248
Density / Sq Mi
$72,521
Median Household Income
$40,064
Median Earnings
$1,323
Median Rent
$272,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant on 1.56 acres in fast-growing area.
Where is this conventional restaurant located?
The property is located at 1025 Industrial Drive Crestview, FL.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 7140 SF Restaurant in a fast‑growing area; Includes Furniture, Fixtures, and Equipment (FFE); Currently operating as El Paso Tacos and Tequila
