Retail Space on Highway
For Sale
Contact for pricing
641 N Ferdon Blvd, Crestview, FL
Retail space in Crestview with potential for various uses.
Property Size3,000 SF
Lot Size0.45 Acres
Price / SF$265
Days on Market261
Property Features for 641 N Ferdon Blvd
General Information
Standard status
Active
Size
3,000 SF
Lot size
0.45 Acres
Property subtype
RETAIL
Listing Agency:
ERA American Real Estate
(850) 240-7575
Listed By:
Janet Johnson · License #419424
(850) 240-7575
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:36PM
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 ERA American Real Estate
Investment Insights
Based on property information with market context.
This 3,000-square-foot retail space is located on Highway 85 in Crestview. The property, formerly a machine shop, offers potential for various uses. It features 3-phase power and an insulated large work area in the back. A fenced yard includes a door to the back work area. The owner is flexible regarding tenant buildout needs.
Key Highlights
- Highway 85 location in Crestview offers high visibility and accessibility.
- 3‑phase power is available, suitable for various industrial or commercial uses.
- Large, insulated work area in the back provides a functional 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
$43,124
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
5.42%
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%
$862,480
$862.5K
Cap Rate 7%
$616,057
$616.1K
Cap Rate 9%
$479,156
$479.2K
Market Conditions
NOI Build-Up for 3,000 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
$66.6K $22.20/SF
− Vacancy
−$5.0K −$1.67/SF
EGI
$61.6K $20.54/SF
− OpEx
−$18.5K −$6.16/SF
NOI
$43.1K $14.37/SF
Area
Okaloosa County, FL
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$862,480
Cap Rate 7%
$616,057
Cap Rate 9%
$479,156
Alternative Uses
Best Use
Retail
$616.1K
$539.1K – $718.7K
NOI $43,124 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $80,927 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
156k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 44%
Dining 34%
Shops & Services 20%
Electronics 2%
Publix
Groceries
39,413 visits/mo
0.1 miles
Winn-Dixie
Groceries
25,548 visits/mo
0.1 miles
McDonald's
Dining
19,383 visits/mo
0.2 miles
Circle K
Shops & Services
17,846 visits/mo
0.0 miles
Wendy's
Dining
16,832 visits/mo
0.1 miles
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space in Crestview with potential for various uses.
Where is this retail space located?
The property is located at 641 N Ferdon Blvd Crestview, FL.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Highway 85 location in Crestview offers **high visibility and accessibility**.; 3‑phase power is available, suitable for various industrial or commercial uses.; Large, insulated work area in the back provides a functional space.
