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

    554 Highway 85 N Niceville, FL 32578

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,500,000

    Medical office building in Niceville, Okaloosa County, for sale.

    Property Features for 554 Highway 85 N

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Craig S Barrett
    Craig S Barrett
    Source: Corcoran

    Listing Agency: NBI PROPERTIES INC Listing Agent: Craig S Barrett

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Medical Office Building For Sale

    This medical office building, located at 554 N Highway 85 in Niceville, is offered for sale. The property is in Okaloosa County and provides a visible and accessible location.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Niceville
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.4933747
    Latitude
    30.5342568

    Nearby Similar for Sale

    • New
      $345,000
      1,664 SF

      New Home in Niceville

      New 3BR/2.5BA home with modern features and fenced backyard.
      615 31St St, Niceville, FL 32578
      View Details
    • $1,299,000
      3,000 SF

      Free-Standing Retail Building Investment

      3,000 SF retail building built in 2021 in Niceville, FL.
      4641 State Highway 20, Niceville, FL 32578
      View Details
    • $1,395,000
      6,774 SF

      Retail Building in Niceville Area

      6,774 SF retail building in a prime Niceville location.
      95 John Sims Pkwy E, Niceville, FL 32578
      View Details
    • Contact for pricing

      Former Restaurant on John Sims

      Former Burger King with drive-thru near Eglin Air Force Base.
      297 John Sims Pkwy E, Niceville, FL 32578
      View Details
    • $1,100,000
      5,584 SF

      Modern Industrial Warehouse with Office

      Air-conditioned warehouse with office, fenced yard, and storage container.
      1456 Pine St, Niceville, FL 32578
      View Details
    • $1,395,000

      Rare Nursery Site for Sale

      3.35-acre nursery site in Niceville, Florida, for sale.
      1405 S Palm Blvd, Niceville, FL 32578
      View Details
    • $474,000

      Waterfront Property Near Niceville Center

      Waterfront property with 200+ ft of waterfront access.
      305 Edrehi Ave, Niceville, FL 32578
      View Details
    • $1,100,000

      Industrial Warehouse with Office Space

      Modern industrial warehouse featuring office space, fenced yard, and storage.
      1456 Pines St, Niceville, FL 32578
      View Details
    • $535,000

      Specialty Property in Niceville, FL

      Specialty property available for sale in Niceville, Florida.
      4314 E 4314 Hidden Lk Dr Dr E, Niceville, FL 32578
      View Details
    • $1,900,000

      Waterfront Property with Marina in Niceville

      Waterfront property with 10-slip marina near Destin Pass.
      834 Bayshore Dr, Niceville, FL 32578
      View Details
    • $699,000
      19,650 SF

      Niceville Mini Storage Investment Opportunity

      High-yield self-storage facility in Niceville, FL.
      204 Kelly Rd, Niceville, FL 32578
      View Details
    • Contact for pricing
      3,750 SF

      Niceville Industrial Warehouse Space

      Large Warehouse, Two Bays, Great Location
      325 Cedar Ave, Niceville, FL 32578
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Medical office building in Niceville, Okaloosa County, for sale.
    Where is this medical office space located?
    The property is located at 554 Highway 85 N Niceville, FL.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: - Highly visible and accessible location.; - Well positioned medical office building.; - Located at 554 N Highway 85 in Niceville.
    (850) 243-0007
    Request Owner's contact information
    554 Highway 85 N Niceville, FL 32578
    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.
    554 Highway 85 N
    Niceville, FL 32578
    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
    554 Highway 85 N Niceville, FL 32578
    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

    We can help!
    Listing Contact
    Craig S Barrett
    Craig S Barrett
    Real Estate License ID: 3294646
    (850) 243-0007 (850) 217-0303
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!