Freestanding Retail and Storage
For Sale
$450,000
6173 Stewart St, Milton, FL 32570
Two freestanding buildings with new metal roofs, combining retail storefront space, bar use, storage units, and an active billboard lease.
Property Size5,843 SF
Lot Size0.45 Acres
Price / SF$77.02
Days on Market42
Property Features for 6173 Stewart St
General Information
Standard status
Active
Size
5,843 SF
Lot size
0.45 Acres
Property subtype
Retail
Zoning
HCD
Building Details
Building Size
5,843 SF
Year Built
1987
Listing Agency:
Coldwell Banker Commercial NRT Pace
Listed By:
Melissa Simpson, CCIM · License #FL #BK3338591
(850) 503-3005
Source:
Bellcorecommercial
Added: Jul 26
Changed: Sep 3
Last Checked: Sep 4 at 5:26AM
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 Coldwell Banker Commercial NRT Pace
Investment Insights
Based on property information with market context.
This offering includes two freestanding buildings on a 0.45-acre site zoned Highway Commercial Development (HCD). Both structures have new metal roofs. The main retail storefront is 1,643 square feet. A second 4,200-square-foot structure includes a mixed-use setup with a bar located in the main portion and storage units in the remaining space.
The bar is located in the main structure facing Stewart St. An on-site billboard sign has an active lease in place generating annual income, and two of the storage units are currently rented.
Demographic information provided for a 5-mile radius includes a total population of 40,268 and an average annual income of $96,199.
The bar is located in the main structure facing Stewart St. An on-site billboard sign has an active lease in place generating annual income, and two of the storage units are currently rented.
Demographic information provided for a 5-mile radius includes a total population of 40,268 and an average annual income of $96,199.
Key Highlights
- Two freestanding buildings on a 0.45‑acre site zoned Highway Commercial Development (HCD)
- New metal roofs on both structures
- Main retail storefront offers 1,643 SF
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
$35,030
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
7.78%
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%
$700,600
$700.6K
Cap Rate 7%
$500,429
$500.4K
Cap Rate 9%
$389,222
$389.2K
Market Conditions
NOI Build-Up for 5,843 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
$43.5K $7.44/SF
− Vacancy
−$2.3K −$0.39/SF
EGI
$41.2K $7.05/SF
− OpEx
−$6.2K −$1.06/SF
NOI
$35.0K $6.00/SF
Area
Santa Rosa County, FL
Vacancy
5.20%
Lease Rate
$7.44 /SF/Yr
Expense Ratio
15.00%
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%
$700,600
Cap Rate 7%
$500,429
Cap Rate 9%
$389,222
Alternative Uses
Best Use
Specialty Retail
$1.10M
$964.9K – $1.29M
NOI $77,188 @ 7.0% cap · market cap 17.15%
Second Best
Retail
$898.2K
$785.9K – $1.05M
NOI $62,873 @ 7.0% cap · market cap 13.97%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,715 @ 7.0% cap · market cap 22.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
113
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32570, FL
33,144
Population
15,387
Households
2.2
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
301.1 sq mi
ZIP Area
110
Density / Sq Mi
$73,615
Median Household Income
$38,394
Median Earnings
$1,233
Median Rent
$240,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Two freestanding buildings with new metal roofs, combining retail storefront space, bar use, storage units, and an active billboard lease.
Where is this storefront property located?
The property is located at 6173 Stewart St Milton, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two freestanding buildings on a 0.45‑acre site zoned Highway Commercial Development (HCD); New metal roofs on both structures; Main retail storefront offers 1,643 SF
