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    102 - 104 N Main St Crestview, FL 32536

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    Sponsored
    Source: https://www.saltercompany.com
    For Sale
    $1,495,000

    Historic Downtown Office, 6,405 SF

    Property size:
    6,405 SF

    Property Features for 102 - 104 N Main St

    General Information

    Property type
    Other office properties
    Square Feet
    6,405 SF
    Price / Square Foot
    $233
    Class
    C
    Elevators
    N/A
    Net Rentable
    6,288 SF

    Building Details

    Year Built/Renovated
    1925/1980
    Buildings
    1
    Stories
    2

    Overview

    Historic Crestview Office Building on Main

    Located at 102-104 N Main St in Crestview, Florida, this iconic two-story office building offers 6,405 square feet of space. The main building includes 12 private offices, a reception area, two break rooms, and two bathrooms. Original brick and pine finishes preserve the building's historic charm. A separate ground floor office space with street access provides additional versatility, featuring two private offices, a conference room, break room, and bathroom. The net rentable area is 6,288 square feet. Situated in Okaloosa County's thriving downtown, the property is ideally located for easy access to Eglin Air Force Base and major transportation routes along I-10 and Highway 90. Its prime location in Crestview's revitalized Main Street district offers convenience and exposure. This property is suitable for various uses, from professional office space to unique retail space with private offices.

    We can help!

    Listing Contact
    Paul Salter

    Learn more

    Property Insight Report

    HighLights

    • Iconic two‑story office building in Crestview's revitalized Main Street district.
    • Features 12 private offices, reception area, break rooms, and bathrooms.
    • Prime location near Eglin Air Force Base and major transportation arteries.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Spine Institute Physician Sold by Suliveres Real Estate Agency CENTURY 21 blue ... Real Estate Agency Kristen Kuenzel, Florida ... Real Estate Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Crestview
    State
    Florida
    Longitude
    -86.569572
    Latitude
    30.75776

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    FAQs

    What type of property is this?
    Office property - Historic Downtown Office, 6,405 SF
    Where is this office property located?
    The property is located at 102 - 104 N Main St Crestview, FL.
    What is the asking price?
    The asking price for this property is $1,495,000.
    What are key features of this property?
    This property features: Iconic two-story office building in Crestview's revitalized Main Street district.; Features 12 private offices, reception area, break rooms, and bathrooms.; Prime location near Eglin Air Force Base and major transportation arteries.
    (850) 564-0120
    Request Owner's contact information
    102 - 104 N Main St Crestview, FL 32536
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    Crestview, FL 32536
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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
    102 - 104 N Main St Crestview, FL 32536
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    Listing Contact
    Paul Salter
    (850) 564-0120
    Learn more
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