Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3421 Airport Road Crestview, FL 32539

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $437,000

    Waterfront land with ponds, utilities, and development potential.

    Type:Land or Vacant Lot
    Added:
    Apr 1, 2026
    Days on Market:
    20
    Last Refresh:
    Apr 1 at 8:30 pm

    Property Features for 3421 Airport Road

    General Information

    Standard status
    Active
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    YOUR HOUSE TEAM

    Listing agent YOUR HOUSE TEAM

    Listing office RE/MAX AGENCY ONE

    Listing date Apr 1, 2026

    Source Corcoran

    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 RE/MAX AGENCY ONE

    Overview

    Waterfront Land with Development Potential

    This property presents a unique opportunity to develop a high-value homesite with long-term potential. The land features three private ponds, creating a waterfront setting. Existing power and water infrastructure are in place, along with a pole barn and pavilion. The pavilion allows for immediate use while planning a larger residence or RV. The layout supports flexibility, including the potential for a minor land division. The property is positioned in a growing area with access to shopping, airports, Eglin AFB, and Gulf Coast beaches.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Building Supply Daycare Center Pet Grooming Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Crestview
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.5099878
    Latitude
    30.7985843

    Nearby Similar for Sale

    • $400,000
      1,500 SF

      Auto Mechanic Shop on Highway

      Auto mechanic shop on 0.4 acres with highway frontage.
      835 N FERDON BOULEVARD, CRESTVIEW, FL 32536
      View Details
    • $315,999

      CRESTVIEW Commercial Land Opportunity

      Vacant 1.88-acre commercial lot in a desirable Crestview neighborhood.
      423 BROOKMEADE DRIVE, CRESTVIEW, FL 32539
      View Details
    • $225,000

      Versatile Land on Highway 85

      5 acres with residential and commercial potential in Crestview, FL.
      6388 Highway 85 N, Crestview, FL 32536
      View Details
    • $437,000

      Crestview Land with Private Ponds

      7.06 acres with ponds, power, and water in Crestview.
      3421 Airport Road, Crestview, FL 32539
      View Details
    • $720,000
      2,834 SF

      New Duplex Investment Opportunity

      New construction duplex in Crestview, expected completion June 2026.
      161 S Booker Street unit: A + B, Crestview, FL 32536
      View Details
    • $269,900

      Crestview Land with Homesite

      8.83-acre property with homesite near Crestview, Florida.
      Bear Head Road, Crestview, FL 32539
      View Details
    • $47,000

      Crestview Cleared Lot Opportunity

      Cleared 0.24-acre lot ready for building or manufactured home.
      4712 Canary Way, Crestview, FL 32539
      View Details
    • $579,900
      6,600 SF

      Commercial Warehouse Near Downtown Crestview

      6600 SF commercial warehouse with offices and open work areas.
      5450 Fairchild Road, Crestview, FL 32539
      View Details
    • $47,000

      Cleared Lot in Crestview, FL

      Ready-to-build 0.24-acre lot near Crestview, Niceville, Eglin AFB.
      Canary Way lot: 21, Crestview, FL 32539
      View Details
    • $47,000

      Crestview Cleared Lot For Sale

      Cleared 0.24-acre lot ready for building or manufactured home.
      4716 Canary Way, Crestview, FL 32539
      View Details
    • $163,000

      Secluded Wooded Lot Near Shoal

      7.89 acre wooded lot bordered by Shoal River.
      Ryan Road, Crestview, FL 32539
      View Details
    • $35,000

      Residential Lot in Crestview, Florida

      0.87-acre residential lot in an established Crestview subdivision.
      Kensington Lane lot: 29, Crestview, FL 32539
      View Details

    FAQs

    What type of property is this?
    Land - Waterfront land with ponds, utilities, and development potential.
    Where is this land located?
    The property is located at 3421 Airport Road Crestview, FL.
    What is the asking price?
    The asking price for this property is $437,000.
    What are key features of this property?
    This property features: Three private, stocked ponds create a striking waterfront setting.; Existing power, water, pole barn, and pavilion provide immediate functionality.; Potential for a minor land division.
    (850) 682-8309
    We can help!
    Listing Contact
    YOUR HOUSE TEAM
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!