Occupied
New
For Sale
$258,334
2912 Crescent Ave, Crestview, FL 32539
Two rental units are currently occupied, providing established tenancy within this residential income property.
Property Size2,111 SF
Price / SF$122.38
Days on Market3
Property Features for 2912 Crescent Ave
General Information
Standard status
Active
Size
2,111 SF
Property subtype
Multi-Family
Additional Details
Asking Price
$775,000
Multifamily Units
6
Building Details
Year Built
1986
Buildings
3
Listing Agency:
Corcoran Reverie Srb
Listed By:
Delawalla Group
(850) 225-9899
Source:
Bestofemeraldcoast
Added: Sep 5
Changed: Sep 6
Last Checked: Sep 6 at 7:37AM
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 Corcoran Reverie Srb
Investment Insights
Based on property information with market context.
This 2,111-square-foot duplex contains two residential units and was built in 1986. Both sides are currently rented, providing existing occupancy for an investor acquiring the property.
The duplex is located at 2912 Crescent Ave in Crestview, Florida, and is being offered as part of a three-duplex portfolio. The portfolio comprises six total units across the three properties, allowing the assets to be acquired together in one transaction. The offering includes the other duplexes identified by MLS numbers 1011294 and 1011295.
The duplex is located at 2912 Crescent Ave in Crestview, Florida, and is being offered as part of a three-duplex portfolio. The portfolio comprises six total units across the three properties, allowing the assets to be acquired together in one transaction. The offering includes the other duplexes identified by MLS numbers 1011294 and 1011295.
Key Highlights
- Both duplex units are currently rented
- 2,111 square feet of property size
- Built in 1986
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
$21,839
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
8.45%
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%
$436,780
$436.8K
Cap Rate 7%
$311,986
$312.0K
Cap Rate 9%
$242,656
$242.7K
Market Conditions
NOI Build-Up for 2,111 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
$41.8K $19.80/SF
− Vacancy
−$2.1K −$0.99/SF
EGI
$39.7K $18.81/SF
− OpEx
−$17.9K −$8.46/SF
NOI
$21.8K $10.35/SF
Area
Okaloosa County, FL
Vacancy
5.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$436,780
Cap Rate 7%
$311,986
Cap Rate 9%
$242,656
Alternative Uses
Best Use
Multifamily LT 5
$347.1K
$303.7K – $405.0K
NOI $24,298 @ 7.0% cap · market cap 9.41%
Second Best
Apartment 5plus
$312.0K
$273.0K – $364.0K
NOI $21,839 @ 7.0% cap · market cap 8.45%
Theoretical Best
Specialty Retail
$813.5K
$711.8K – $949.1K
NOI $56,946 @ 7.0% cap · market cap 22.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
Explore this area
Business Placement
Demographics for 32539, FL
31,749
Population
12,642
Households
2.5
Avg Household Size
37
Median Age
24%
College-Educated
93%
High-School Grad
127.9 sq mi
ZIP Area
248
Density / Sq Mi
$72,521
Median Household Income
$40,064
Median Earnings
$1,323
Median Rent
$272,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two rental units are currently occupied, providing established tenancy within this residential income property.
Where is this duplex located?
The property is located at 2912 Crescent Ave Crestview, FL.
What is the asking price?
The asking price for this property is $258,334.
What are key features of this property?
This property features: Both duplex units are currently rented; 2,111 square feet of property size; Built in 1986
