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

    5761 Highland Hills Rd Crestview, FL 32539

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $85,000

    2.23 acre land parcel with utilities on site.

    Lot size:
    2.23 Acres

    Property Features for 5761 Highland Hills Rd

    General Information

    Standard status
    Active
    Lot size
    2.23 Acres

    We can help!

    Listing Contact
    Alina Jackson
    Alina Jackson
    Source: Corcoran

    Listing Agency: Waves of The Emerald Coast Realty Listing Agent: Alina Jackson

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

    Learn more

    Overview

    2.23 Acre Land Parcel

    This 2.23-acre land parcel is situated on a paved road in a secluded and quiet area. The acreage is partially cleared, offering potential for various uses. Utilities are available on site, including electric, water, and a functional septic tank. According to provided data, the property is not located in a flood zone (zone X, elevation 0). A vacant mobile home is present on the property but is not livable and must be removed by the buyer.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Spa & Massage Center Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Crestview
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.4728022
    Latitude
    30.784605

    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 Blvd, Crestview, FL 32536
      View Details
    • $495,000
      Pending

      Renovated Triplex in Crestview, Florida

      Fully renovated triplex with strong rental income potential in Crestview.
      119-123 Hampton Dr, Crestview, FL 32539
      View Details
    • $719,500
      3,000 SF

      Medical Office Near Hospital

      Two-story medical office building near North Okaloosa County Medical Center.
      710 Hospital Dr, Crestview, FL 32539
      View Details
    • $1,394,000
      4,350 SF

      Crestview Investment Property For Sale

      Multi-tenant retail property with high traffic and development potential.
      3301 South Ferdon Blvd, Crestview, FL 32536
      View Details
    • $700,000
      2,863 SF

      Versatile Commercial Space Available

      Spacious commercial area suitable for offices, retail, and more.
      914 N Ferdon Blvd, Crestview, FL 32536
      View Details
    • $475,000
      2,146 SF

      Commercial Investment Opportunity on Corner Lot

      Corner lot near Crestview High School and upcoming Wal-Mart.
      1202 N Ferdon Blvd, Crestview, FL 32536
      View Details
    • $789,000
      5,000 SF

      Historic Crestview Building For Sale

      Charming 5,000 SF building in Crestview, zoned C-1.
      196 W Pine Ave, Crestview, FL 32536
      View Details
    • $719,500

      Medical Office Building Near Hospital

      Two-story medical office building near North Okaloosa County Medical Center.
      710 Hospital Dr, Crestview, FL 32539
      View Details
    • New
      $689,900

      Commercial Building with Flexible Suites

      Versatile commercial building with layout options for various business needs.
      1078 S Ferdon Blvd, Crestview, FL 32536
      View Details
    • $720,000
      3,000 SF

      Medical Office Near Hospital

      Two-story medical office building near North Okaloosa County Medical Center.
      600 Hospital Dr, Crestview, FL 32539
      View Details
    • $399,000

      Mixed-Use Property in Crestview Heart

      Versatile property in a sought-after location with mixed-use zoning.
      696 S Wilson St, Crestview, FL 32536
      View Details
    • $695,000
      4,300 SF

      Crestview Net-Leased Industrial Investment

      Net-leased industrial property in Crestview, Florida, ideal for investment.
      101 W Edney Ave, Crestview, FL 32536
      View Details

    FAQs

    What type of property is this?
    Land - 2.23 acre land parcel with utilities on site.
    Where is this land located?
    The property is located at 5761 Highland Hills Rd Crestview, FL.
    What is the asking price?
    The asking price for this property is $85,000.
    What are key features of this property?
    This property features: - Large 2.23-acre lot on a paved road.; - Utilities on site: electric, water, and functional septic tank.; - Not in a flood zone (zone X, elevation 0).
    (850) 533-7885
    Request Owner's contact information
    5761 Highland Hills Rd Crestview, FL 32539
    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.
    5761 Highland Hills Rd
    Crestview, FL 32539
    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
    5761 Highland Hills Rd Crestview, FL 32539
    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
    Alina Jackson
    Alina Jackson
    Real Estate License ID: 3475596
    (850) 533-7885
    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!