Office and Warehouse
New
For Sale
Contact for pricing
321 Highway 85 N, Niceville, FL 32578
Three separate buildings combine brick office space with warehouse capacity and overhead loading access.
Property Size13,300 SF
Lot Size1.69 Acres
Price / SF$142.86
Days on Market5
Property Features for 321 Highway 85 N
General Information
Standard status
Active
Size
13,300 SF
Lot size
1.69 Acres
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Warehouse Space
9,550 SF
Building Details
Year Built
2011
Buildings
3
Construction
brick
Listing Agency:
Taylor Allen Properties LLC
Listed By:
Chad Knaepple CCIM, SIOR
(850) 687-4075
Source:
Moodyscre
Added: Oct 15
Changed: Oct 19
Last Checked: Oct 19 at 2:18PM
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 Taylor Allen Properties LLC
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Investment Insights
Based on property information with market context.
The property includes three commercial buildings totaling 13,300 square feet on 1.69 acres. A freestanding brick office building constructed in 2011 contains 3,750 square feet. The two warehouses measure 5,550 square feet and 4,000 square feet; their eave heights are 20 feet and 16 feet, respectively. The larger warehouse dates to 1990, while the 4,000-square-foot building was built in 2014. Each warehouse has 12' x 14' overhead doors, with two in the 5,550-square-foot building and four in the 4,000-square-foot building.
The site has 355 feet of frontage on Highway 85, where traffic is reported at 14,000 ADT.
The site has 355 feet of frontage on Highway 85, where traffic is reported at 14,000 ADT.
Key Highlights
- Three buildings totaling 13,300 square feet on 1.69 acres
- 3,750‑square‑foot freestanding brick office building, constructed in 2011
- 5,550‑square‑foot warehouse with 20‑foot eaves and two 12' x 14' overhead doors; built in 1990
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$171,770
Cap Rate
9.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,435,400
$3.4M
Cap Rate 7%
$2,453,857
$2.5M
Cap Rate 9%
$1,908,556
$1.9M
Market Conditions
NOI Build-Up for 13,300 SF
Gross rent
$279.3K $21.00/SF
− Vacancy
−$50.3K −$3.78/SF
EGI
$229.0K $17.22/SF
− OpEx
−$57.3K −$4.31/SF
NOI
$171.8K $12.92/SF
Area
Okaloosa County, FL
Vacancy
18.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,435,400
Cap Rate 7%
$2,453,857
Cap Rate 9%
$1,908,556
Alternative Uses
Best Use
Office B
$2.45M
$2.15M – $2.86M
NOI $171,770 @ 7.0% cap · market cap 9.04%
Second Best
Warehouse
$1.29M
$1.13M – $1.51M
NOI $90,404 @ 7.0% cap · market cap 4.76%
Theoretical Best
Specialty Retail
$5.13M
$4.48M – $5.98M
NOI $358,777 @ 7.0% cap · market cap 18.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32578, FL
35,075
Population
14,578
Households
2.4
Avg Household Size
42
Median Age
45%
College-Educated
97%
High-School Grad
23.2 sq mi
ZIP Area
1,512
Density / Sq Mi
$105,858
Median Household Income
$52,028
Median Earnings
$1,744
Median Rent
$414,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- self storage — 409 E John Sims Pkwy, Niceville, FL 32578
- Elk Boat & RV Storage — 200 Kelly Rd, Niceville, FL 32578
- Kelly Road Mini Storage — 204 Kelly Rd, Niceville, FL 32578
- Prime Storage — 323 FL-85, Niceville, FL 32578
Frequently Asked Questions
What type of property is this?
Warehouse - Three separate buildings combine brick office space with warehouse capacity and overhead loading access.
Where is this warehouse located?
The property is located at 321 Highway 85 N Niceville, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Three buildings totaling 13,300 square feet on 1.69 acres; 3,750‑square‑foot freestanding brick office building, constructed in 2011; 5,550‑square‑foot warehouse with 20‑foot eaves and two 12' x 14' overhead doors; built in 1990
