Historic Crestview Building For
For Sale
$789,000
196 W Pine Ave, Crestview, FL 32536
Charming 5,000 SF building in Crestview, zoned C-1.
Property Size5,000 SF
Price / SF$157.80
Days on Market273
Property Features for 196 W Pine Ave
General Information
Standard status
Active
Size
5,000 SF
Class
C
Property subtype
Retail
Building Details
Building Size
5,000 SF
Year Built
1936
Listing Agency:
Bellcore Commercial LLC
(850) 240-0527
Listed By:
Harry Bell Jr. · License #FL #BK3026917
(850) 240-0527
Source:
Bellcorecommercial
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: Aug 21 at 4:35AM
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 Bellcore Commercial LLC
Investment Insights
Based on property information with market context.
This historic 5,000 SF free-standing building, constructed in 1936, is located in Crestview, FL. The property offers a versatile layout with one spacious unit, suitable for various businesses. Zoned C-1, it presents possibilities for retail ventures or professional services. The offering includes a second land parcel located directly behind the property, providing extra space for parking, storage, or future expansion. The property is situated in the Crestview market, with convenient access to major transportation routes. The vibrant downtown area nearby offers dining and retail options. The community is also close to scenic parks, top-rated schools, and healthcare facilities. This location offers opportunities for growth and success.
Key Highlights
- 5,000 SF free‑standing building in a prime Crestview location.
- Zoned C‑1, offering endless possibilities for retail or professional services.
- Includes a second land parcel behind the property for parking, storage, or expansion.
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
$71,873
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
9.11%
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%
$1,437,460
$1.4M
Cap Rate 7%
$1,026,757
$1.0M
Cap Rate 9%
$798,589
$798.6K
Market Conditions
NOI Build-Up for 5,000 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
$111.0K $22.20/SF
− Vacancy
−$8.3K −$1.67/SF
EGI
$102.7K $20.54/SF
− OpEx
−$30.8K −$6.16/SF
NOI
$71.9K $14.37/SF
Area
Okaloosa County, FL
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,437,460
Cap Rate 7%
$1,026,757
Cap Rate 9%
$798,589
Alternative Uses
Best Use
Retail
$1.03M
$898.4K – $1.20M
NOI $71,873 @ 7.0% cap · market cap 9.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.93M
$1.69M – $2.25M
NOI $134,879 @ 7.0% cap · market cap 17.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
984
Businesses Nearby
82k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 32%
Home Improvements & Furnishings 16%
Electronics 2%
McDonald's
Dining
22,661 visits/mo
0.2 miles
Dollar General
Shops & Services
15,303 visits/mo
0.3 miles
Tractor Supply Co.
Home Improvements & Furnishings
12,303 visits/mo
0.3 miles
Burger King
Dining
8,981 visits/mo
0.1 miles
Wells Fargo
Shops & Services
6,754 visits/mo
0.2 miles
Demographics for 32536, FL
25,807
Population
9,379
Households
2.8
Avg Household Size
34
Median Age
27%
College-Educated
93%
High-School Grad
42.5 sq mi
ZIP Area
607
Density / Sq Mi
$82,643
Median Household Income
$40,845
Median Earnings
$1,351
Median Rent
$280,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Petal Barne — 648 Wilson St N, Crestview, FL 32536
- The Flower Basket Florist — 897 Wilson St N, Crestview, FL 32536
- Friendly Florist — 586 S Ferdon Blvd, Crestview, FL 32536
Frequently Asked Questions
What type of property is this?
Storefront property - Charming 5,000 SF building in Crestview, zoned C-1.
Where is this storefront property located?
The property is located at 196 W Pine Ave Crestview, FL.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: 5,000 SF free‑standing building in a prime Crestview location.; Zoned C‑1, offering endless possibilities for retail or professional services.; Includes a second land parcel behind the property for parking, storage, or expansion.
