High-Visibility Commercial Property on Hwy
For Sale
$750,000
641 N Ferdon Blvd, Crestview, FL 32536
Versatile commercial property with income potential in prime location.
Property Size4,080 SF
Lot Size0.45 Acres
Price / SF$183.82
Days on Market192
Property Features for 641 N Ferdon Blvd
General Information
Standard status
Active
Size
4,080 SF
Lot size
0.45 Acres
Property subtype
Commercial
Listing Agency:
ERA American Real Estate
Listed By:
Janet F Johnson · License #419424
(850) 651-2454
Source:
Emeraldcoasthomefinder
Added: Apr 20
Changed: Oct 27
Last Checked: Oct 26 at 4:28PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This commercial property is located in a high-visibility area along Hwy 85 (N Ferdon Blvd). The property includes approximately 4,080 square feet of heated and cooled space, plus additional storage, situated on a 0.45-acre lot. The building is configured into three units, with two currently leased. There are approximately 18 parking spaces. The location is just minutes from downtown Crestview and the new Walmart Marketplace currently under construction. The property has commercial frontage along one of Crestview's main corridors.
Key Highlights
- High‑visibility location on heavily traveled Hwy 85 (N Ferdon Blvd)
- Immediate income potential from two leased units
- Approximately 4,080 square feet of heated and cooled space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,648
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,172,960
$1.2M
Cap Rate 7%
$837,829
$837.8K
Cap Rate 9%
$651,644
$651.6K
Market Conditions
NOI Build-Up for 4,080 SF
Gross rent
$90.6K $22.20/SF
− Vacancy
−$6.8K −$1.67/SF
EGI
$83.8K $20.54/SF
− OpEx
−$25.1K −$6.16/SF
NOI
$58.6K $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 Rate 5%
$1,172,960
Cap Rate 7%
$837,829
Cap Rate 9%
$651,644
Alternative Uses
Best Use
Retail
$837.8K
$733.1K – $977.5K
NOI $58,648 @ 7.0% cap · market cap 7.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.57M
$1.38M – $1.83M
NOI $110,061 @ 7.0% cap · market cap 14.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
81k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Home Improvements & Furnishings 12%
Apparel 7%
Dining 5%
CEFCO
Shops & Services
27,708 visits/mo
0.4 miles
Dollar Tree
Shops & Services
19,396 visits/mo
0.1 miles
Consolidated Ace Hdwe & Sply Inc
Home Improvements & Furnishings
9,755 visits/mo
0.1 miles
Tom Thumb Food Stores
Shops & Services
6,991 visits/mo
0.4 miles
Goodwill
Apparel
5,803 visits/mo
0.4 miles
Demographics for 32536, FL
25,807
Population
9,379
Households
2.8
Avg Household Size
34
Median Age
27%
College-Educated
93%
High-School Grad
42.5 sq mi
ZIP Area
607
Density / Sq Mi
$82,643
Median Household Income
$40,845
Median Earnings
$1,351
Median Rent
$280,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- The Petal Barne — 648 Wilson St N, Crestview, FL 32536
- The Flower Basket Florist — 897 Wilson St N, Crestview, FL 32536
- Friendly Florist — 586 S Ferdon Blvd, Crestview, FL 32536
Frequently Asked Questions
What type of property is this?
Storefront property - Versatile commercial property with income potential in prime location.
Where is this storefront property located?
The property is located at 641 N Ferdon Blvd Crestview, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: High‑visibility location on heavily traveled Hwy 85 (N Ferdon Blvd); Immediate income potential from two leased units; Approximately 4,080 square feet of heated and cooled space
