Crestview Investment Property For
For Sale
$1,394,000
3301 South Ferdon Boulevard, Crestview, FL 32536
Multi-tenant retail property with high traffic and development potential.
Property Size4,350 SF
Lot Size0.80 Acres
Price / SF$320.46
Days on Market193
Property Features for 3301 South Ferdon Boulevard
General Information
Standard status
Active
Size
4,350 SF
Lot size
0.80 Acres
Property subtype
Retail
Building Details
Building Size
4,350 SF
Listing Agency:
Bellcore Commercial
(850) 240-0527
Listed By:
Harry Bell Jr. · License #FL #BK3026917
(850) 240-0527
Source:
Bellcorecommercial
Added: Jan 27
Changed: Aug 8
Last Checked: Aug 8 at 6:03AM
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
Investment Insights
Based on property information with market context.
This investment property for sale is situated on a 0.8-acre parcel zoned C-2. The multi-building property features a single-tenant, free-standing Jimmy John's, a co-tenant building housing a QQ Smoke Shop and a 1,600-square-foot vacant space. Additionally, a billboard is located on the property under a month-to-month lease. The property is located on Hwy 85/S Ferdon Blvd, which has a high traffic count of 44,000 AADT. The seller will credit the buyer one year of rent for the vacant tenant space. Nearby national retailers include Aldi, Chipotle, Walmart, Publix, McDonald's, Starbucks, Panera Bread, Seven Brew, and Lowe's.
The Crestview Metropolitan Statistical Area (MSA), encompassing Okaloosa and Walton Counties in the Florida Panhandle, has nearly 270,000 residents. The area has experienced growth exceeding 25% since 2000. The economy is supported by military, tourism, fishing, and healthcare sectors, with Okaloosa County leading in healthcare services in Northwest Florida. Eglin Air Force Base is located between Crestview and Fort Walton Beach. Fort Walton Beach and Destin are nearby tourism destinations on Florida’s Emerald Coast, which spans from Panama City Beach to Pensacola Beach.
The Crestview Metropolitan Statistical Area (MSA), encompassing Okaloosa and Walton Counties in the Florida Panhandle, has nearly 270,000 residents. The area has experienced growth exceeding 25% since 2000. The economy is supported by military, tourism, fishing, and healthcare sectors, with Okaloosa County leading in healthcare services in Northwest Florida. Eglin Air Force Base is located between Crestview and Fort Walton Beach. Fort Walton Beach and Destin are nearby tourism destinations on Florida’s Emerald Coast, which spans from Panama City Beach to Pensacola Beach.
Key Highlights
- High traffic location on Hwy 85/S Ferdon Blvd with 44,000 AADT.
- Income‑producing property with existing tenants (Jimmy John's, QQ Smoke Shop, Billboard).
- Seller to credit Buyer 1 year of rent for the vacant tenant space.
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
$117,344
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
8.42%
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%
$2,346,880
$2.3M
Cap Rate 7%
$1,676,343
$1.7M
Cap Rate 9%
$1,303,822
$1.3M
Market Conditions
NOI Build-Up for 4,350 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
$161.3K $37.08/SF
− Vacancy
−$4.8K −$1.11/SF
EGI
$156.5K $35.97/SF
− OpEx
−$39.1K −$8.99/SF
NOI
$117.3K $26.98/SF
Area
Okaloosa County, FL
Vacancy
3.00%
Lease Rate
$37.08 /SF/Yr
Expense Ratio
25.00%
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%
$2,346,880
Cap Rate 7%
$1,676,343
Cap Rate 9%
$1,303,822
Alternative Uses
Best Use
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,344 @ 7.0% cap · market cap 8.42%
Second Best
Retail
$893.3K
$781.6K – $1.04M
NOI $62,529 @ 7.0% cap · market cap 4.49%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
998
Businesses Nearby
59k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 69%
Shops & Services 23%
Electronics 4%
Home Improvements & Furnishings 3%
McDonald's
Dining
22,661 visits/mo
0.5 miles
Burger King
Dining
8,981 visits/mo
0.3 miles
Wells Fargo
Shops & Services
6,754 visits/mo
0.1 miles
Waffle House
Dining
5,520 visits/mo
0.4 miles
KFC
Dining
3,696 visits/mo
0.4 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
- Crestview Commons — 2680 S Ferdon Blvd Unit 201, Crestview, FL 32536
- Crestview corners — Crestview, FL 32539
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail property with high traffic and development potential.
Where is this shopping center located?
The property is located at 3301 South Ferdon Boulevard Crestview, FL.
What is the asking price?
The asking price for this property is $1,394,000.
What are key features of this property?
This property features: High traffic location on Hwy 85/S Ferdon Blvd with 44,000 AADT.; Income‑producing property with existing tenants (Jimmy John's, QQ Smoke Shop, Billboard).; Seller to credit Buyer 1 year of rent for the vacant tenant space.
