Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    285 X Hwy Niceville, FL 32578

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,287 /Mo

    Two half-acre commercial parcels available for ground lease.

    Lot size:
    0.50 Acres

    Property Features for 285 X Hwy

    General Information

    Standard status
    Active
    Lot size
    0.50 Acres

    We can help!

    Listing Contact
    Dora Cawood
    Dora Cawood
    Source: Corcoran

    Listing Agent: Dora Cawood

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Commercial Parcels on Highway 285

    Two half-acre commercial parcels are available for ground lease. These parcels are located at the entrance to the Parkview Place community on Highway 285 (Partin Drive). A diagram illustrating possible commercial site layouts is available. The average annual daily traffic (AADT) is 8900. The ground lease rate is $49,000 per acre annually.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Niceville
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.0572
    Latitude
    30.4944

    Nearby Similar for Lease

    • $30 SF/Yr
      25,000 SF

      New Class A Office Building

      New Class A office building near Eglin AFB for lease.
      511 Government Ave, Niceville, FL 32578
      View Details
    • $1,600 /Mo
      1,000 SF

      Charming Condo in Oaks Community

      Two-bedroom, two-bath condo with community pool and modern amenities.
      1501 N Partin Dr, Niceville, FL 32578
      View Details
    • $5,950,000
      6,000 SF

      Versatile Building for Lease or Sale

      Multi-use building with workshop, warehouse, showroom, and offices.
      200 Hart St, Niceville, FL 32578
      View Details
    • $1.00 SF/Yr
      1,918 SF

      Bluewater Bay Retail and Office

      Retail, restaurant, and office spaces available in Niceville, Florida.
      4512 Highway 20 E, Niceville, FL 32578
      View Details
    • $2,135 /Mo
      1,025 SF

      Niceville Office Suite For Lease

      1,025 SF office suite in well-established Niceville office complex.
      4400 E Highway 20, Niceville, FL 32578
      View Details
    • $1,850 /Mo
      1,000 SF

      Niceville Condo with Vaulted Ceilings

      Well-maintained 2-bedroom, 2-bathroom condo available September 18th.
      1501 N Partin Dr, Niceville, FL 32578
      View Details
    • $15 SF/Yr
      12,000 SF

      Niceville Flex Warehouse & Office Space

      14,000 SF Industrial Property Available
      108 Kelly Rd, Niceville, FL 32578
      View Details
    • $2,370 /Mo
      2,357 SF

      Waterfront Office Suite For Rent

      1,500 sq ft waterfront office suite with water views.
      815 Bayshore Dr, Niceville, FL 32578
      View Details
    • $1.00 SF/Yr
      105,599 SF

      Bluewater Bay Commercial Spaces

      Niceville, FL retail & office suites.
      4506 Fl-20, Niceville, FL 32578
      View Details
    • $15 SF/Yr
      12,000 SF

      Niceville Flex Space & Warehouse

      14,000 SF Flex/Office Space Available in Niceville, FL
      108 Kelly Rd, Niceville, FL 32578
      View Details
    • $40 SF/Yr
      25,000 SF

      Class A Office Space, Niceville, FL

      Modern Office Suites, Pre-leasing Now
      811 government avenue, Niceville, FL 32578
      View Details
    • $40 SF/Yr
      8,000 SF

      Prime Valparaiso Office Space

      Class A Office, 4,000-8,000 SF, Pre-leasing Now
      811 government avenue, Niceville, FL 32578
      View Details

    FAQs

    What type of property is this?
    Commercial land - Two half-acre commercial parcels available for ground lease.
    Where is this commercial land located?
    The property is located at 285 X Hwy Niceville, FL.
    What are key features of this property?
    This property features: - Two half-acre commercial parcels.; - Located at the entrance to Parkview Place community.; - Situated on Highway 285 (Partin Drive).
    (850) 678-2223
    Request Owner's contact information
    285 X Hwy Niceville, FL 32578
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    285 X Hwy
    Niceville, FL 32578
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    285 X Hwy Niceville, FL 32578
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Dora Cawood
    Dora Cawood
    (850) 678-2223
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.