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    Single-Family Development Land Title is generated by Realmo AI

    301 Hart Street, Niceville, FL 32578

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    For Sale
    $700,000

    LAND - Niceville, FL

    Lot size:
    1.66 Acres
    Added:
    Jun 2, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 5 at 4:06 am

    Property Features for 301 Hart Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    City, Resid Single Family
    Standard status
    Active
    APN
    01-1S-23-0930-000E-0010
    Lot size
    1.66 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Florida Heights Lots 1 & 2 Blk E
    Tax Annual Amount
    2793

    We can help!

    Listing Contact
    Chris Carter
    Chris Carter

    Listing agent Chris Carter License #3210183

    Listing office Real Broker LLC 122 W Pine St #300, Championsgate, FL

    Listing date Jun 2, 2026

    MLS# 1004629 Listing URL

    Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 1.65‑acre development parcel in the City of Niceville, zoned R1‑B Single Family Residential (up to 8 dwelling units per acre).
    • Includes a 1,467‑SF home sold strictly as‑is, with the residence requiring substantial repairs and renovations.
    • Located near Niceville schools and local amenities including shopping, dining, parks, and boat launches.
    • Convenient to major military installations including Eglin Air Force Base and Hurlburt Field.
    • Zoning supports future development potential subject to buyer verification and City of Niceville approval during due diligence.

    Overview

    The property consists of approximately 1.66 acres of land in the City of Niceville and includes a 1,467-square-foot home that is being sold strictly as-is. The residence requires substantial repairs and renovations, with little to no value attributed to the improvements. Prospective buyers should evaluate the site for future development based on the parcel’s size, in-city status, and zoning constraints and opportunities.

    The land is located in Niceville, Florida, at 301 Hart Street. Zoning is listed as City, Resid Single Family, described in the remarks as R1-B Single Family Residential with density limits indicated as up to 8 dwelling units per acre. The seller notes the area includes a mix of residential and higher-density zoning classifications, and any development plans would be subject to buyer verification and City approval.

    This offering is suited for buyers looking for land within Niceville with single-family residential zoning considerations and the flexibility to explore build, hold, or redevelopment options through their own due diligence. Because the property is presented with the existing home as-is and includes an active zoning/development approval component, buyers should plan on confirming intended use, density, utilities, dimensions, and development potential during the due diligence process.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Niceville
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.497991
    Latitude
    30.531042

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    FAQs

    What type of property is this?
    Residential land & home lot - 1.66-acre in-city parcel with an existing as-is residence, zoned for single-family development considerations.
    Where is this residential land & home lot located?
    The property is located at 301 Hart Street Niceville, FL.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: 1.65‑acre development parcel in the City of Niceville, zoned R1‑B Single Family Residential (up to 8 dwelling units per acre).; Includes a 1,467‑SF home sold strictly as‑is, with the residence requiring substantial repairs and renovations.; Located near Niceville schools and local amenities including shopping, dining, parks, and boat launches.
    (850) 865-7975
    We can help!
    Listing Contact
    Chris Carter
    Chris Carter
    Real Estate License ID: 3210183
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    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.

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