Multi-Tenant Office Building with
124 John King Rd Crestview, FL 32539
For Sale
Contact for pricing
Newer multi-tenant office building with two leased suites and four 10x10 storage units.
Property Size6,051 SF
Price / SF$280.95
Days on Market123
Property Features for 124 John King Rd
General Information
- Standard status
- Active
- Size
- 6,051 SF
- Property subtype
- OFFICE
Listing Agency:
La Bella Vita Property Group
(850) 758-5367
Listed By:
Howard Leavins
(850) 758-5367
Source:
Moodyscre
Added: Mar 24
Changed: Jul 23
Last Checked: Jul 23 at 4:12PM
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 La Bella Vita Property Group
Investment Insights
Based on property information with market context.
A newer multi-tenant office building totaling approximately 5,500 square feet, configured as two office suites. Suite A offers about 3,000 square feet and Suite B offers about 2,500 square feet. The interior includes private office space (including 6 private offices sized 8x12 and 9 private offices sized 6x8), plus a glass conference room and an efficient layout designed for medical, professional services, or executive office use. A health services tenant currently occupies the space, and the configuration supports continued medical use or conversion to general office.
The property also includes four 10x10 storage units, providing an additional income stream. Total gross monthly rent is $10,625, totaling $127,500 annually based on the current leases. Located at 124 John King Rd, Crestview, FL 32539.
The property also includes four 10x10 storage units, providing an additional income stream. Total gross monthly rent is $10,625, totaling $127,500 annually based on the current leases. Located at 124 John King Rd, Crestview, FL 32539.
Key Highlights
- Newer 5,500 SF multi‑tenant office building with two leased suites plus four 10x10 storage units
- Suite A: 3,000 SF office leased at $6,250/month
- Suite B: 2,500 SF office leased at $4,375/month; total gross monthly income is $10,625
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $127.1k | $21.00 |
| − Vacancy | −$22.9k | −$3.78 |
| EGI | $104.2k | $17.22 |
| − OpEx | −$26.0k | −$4.31 |
| NOI | $78.1k | $12.92 |
6,051 SF · lease $21.00/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.12M
$976.9K – $1.30M
NOI $78,149 @ 7.0% cap · market cap 4.60%
Second Best
Healthcare Medical
$974.8K
$853.0K – $1.14M
NOI $68,237 @ 7.0% cap · market cap 4.01%
Theoretical Best
Specialty Retail
$2.33M
$2.04M – $2.72M
NOI $163,230 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
850 Therapy, LLC
Physician
Setco Services
Real Estate Attorney
Spot On Therapy, PLLC
Physician
FAQs
What type of property is this?
Office building - Newer multi-tenant office building with two leased suites and four 10x10 storage units.
Where is this office building located?
The property is located at 124 John King Rd Crestview, FL.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Newer 5,500 SF multi‑tenant office building with two leased suites plus four 10x10 storage units; Suite A: 3,000 SF office leased at $6,250/month; Suite B: 2,500 SF office leased at $4,375/month; total gross monthly income is $10,625
