Crestview Multifamily Investment
For Sale
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507 Amos St, Crestview, FL 32539
Stabilized 10-unit apartment building built in 2021.
Property Size8,400 SF
Price / SF$202.38
Days on Market157
Property Features for 507 Amos St
General Information
Standard status
Active
Size
8,400 SF
Class
B
Property subtype
Multifamily
Occupancy
100%
Net Operating Income
$108,457
Building Details
Year Built
2021
Buildings
1
Stories
2
Units
10
Listing Agency:
Hull Multifamily Advisors
Listed By:
Nick Hull · License #FL: BK3581015
Source:
Crexi
Added: Mar 19
Changed: Aug 19
Last Checked: Aug 20 at 5:06AM
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 Hull Multifamily Advisors
Investment Insights
Based on property information with market context.
The Sage Tree Apartments, constructed in 2021, offer a multifamily investment opportunity in Crestview, FL. This single-building asset comprises ten apartments, each featuring two bedrooms and one bathroom within an 840 square foot layout. The property includes amenities such as individual entrances, ample parking, and dishwashers. All utilities are individually metered, with tenants responsible for electricity and water expenses. The property is presented as a stabilized, cash-flowing asset with potential for value enhancement. Current rents are below market averages compared to similar properties, presenting an opportunity to increase rents and cash flow. Historically, the property has maintained occupancy levels near 100%. The location and cash flow make this an attractive investment.
Key Highlights
- Newly constructed in 2021, minimizing potential maintenance costs.
- Stabilized cash flowing asset with historically high occupancy rates (near 100%).
- Significant value‑add opportunity through raising rents to market rates ($75-$150 below comparable properties).
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
$86,902
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
5.11%
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%
$1,738,040
$1.7M
Cap Rate 7%
$1,241,457
$1.2M
Cap Rate 9%
$965,578
$965.6K
Market Conditions
NOI Build-Up for 8,400 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
$166.3K $19.80/SF
− Vacancy
−$8.3K −$0.99/SF
EGI
$158.0K $18.81/SF
− OpEx
−$71.1K −$8.46/SF
NOI
$86.9K $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%
$1,738,040
Cap Rate 7%
$1,241,457
Cap Rate 9%
$965,578
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $86,902 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.24M
$2.83M – $3.78M
NOI $226,596 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
940
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?
Apartment building - Stabilized 10-unit apartment building built in 2021.
Where is this apartment building located?
The property is located at 507 Amos St Crestview, FL.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Newly constructed in 2021, minimizing potential maintenance costs.; Stabilized cash flowing asset with historically high occupancy rates (near 100%).; Significant value‑add opportunity through raising rents to market rates ($75-$150 below comparable properties).
