Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Crestview Flex Space Available Title is generated by Realmo AI

    641 N Ferdon Boulevard, Crestview, FL 32536

    View on Map
    Claim this Listing
    For Lease
    $3,500 /Mo

    Flex space with 3-phase power and fenced yard.

    Type:Commercial
    Added:
    Nov 15, 2025
    Days on Market:
    197
    Last Refresh:
    Apr 5 at 11:25 pm

    Property Features for 641 N Ferdon Boulevard

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    We can help!

    Listing Contact
    KEITH R WOOD
    KEITH R WOOD

    Listing agent KEITH R WOOD

    Listing office ERA AMERICAN REAL ESTATE

    Listing date Nov 15, 2025

    Source Corcoran

    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

    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.
    • Fenced yard with door to back work area enhances security and usability.
    • Owner is flexible on tenant buildout needs, allowing for customization.
    • Formerly a machine shop, indicating suitability for similar operations.

    Overview

    Located on Highway 85 in Crestview, this flex space offers various potential uses. The property was previously used as a machine shop. It features 3-phase power and a large, insulated work area in the back. A fenced yard includes a door providing access to the back work area. The owner is open to tenant buildout needs.
    Property Profile Location Intelligence

    Current Use by Public Records

    My Sister's Closet Clothing & Fashion Store

    Suggested Use

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

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

    Similar Places Nearby

    • M&Js Grubbery — N Ferdon Blvd, Crestview, FL 32536

    Location Insight

    • Map
    • Local Demand
    City
    Crestview
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.5669
    Latitude
    30.7684

    Nearby Similar for Lease

    • $16 SF/Yr
      5,492 SF

      Versatile Commercial Space on Ferdon

      Flexible retail/office space with showroom, offices, kitchen, and storage.
      535 S Ferdon Boulevard #A, Crestview, FL 32536
      View Details
    • $850/Mo
      8,040 SF

      Office Space with Private Bathroom

      Office space for lease featuring a private bathroom.
      128 John King Road #20&22, Crestview, FL 32539
      View Details
    • $1,450/Mo
      8,040 SF

      Office Space with Flexible Layout

      Adaptable office space with potential for single or dual occupancy.
      128 John King Road #20&22, Crestview, FL 32539
      View Details
    • $2,000/Mo
      2,304 SF

      Commercial Space on Hwy 90

      Commercial space with high visibility on Hwy 90.
      426 W James Lee Boulevard, Crestview, FL 32536
      View Details
    • $18 SF/Yr
      1,950 SF

      Medical/Professional Office Park Space

      Flexible medical and professional office space for lease.
      4100 S Ferdon Blvd, Crestview, FL
      View Details
    • $500/Mo
      210 SF

      Office Space Available For Rent

      Office unit available for lease, 210 square feet.
      650 W James Lee Boulevard #3, Crestview, FL 32536
      View Details
    • $5,250/Mo
      4,500 SF

      Crestview Flex Space For Rent

      4,500 SF commercial flex space with high visibility.
      493 N Ferdon Blvd, CRESTVIEW, FL, 32536-2741
      View Details
    • Contact for pricing

      Medical Office Near Hospital

      Two-story medical office building near North Okaloosa County Medical Center.
      710 Hospital Dr | Crestview, FL 32539
      View Details
    • $5,000/Mo
      11,000 SF

      Crestview Office Space For Rent

      Desirable Crestview building with highway frontage and high ceilings.
      5210 S Ferdon Boulevard #B, Crestview, FL 32536
      View Details
    • $6,000/Mo

      4,200 SF Office For Sale/Lease - Floor 1, Suite 102 - 102 Main St

      Historic 4,200 sq ft office space in revitalized downtown Crestview.
      102 - 104 N Main St, Crestview, FL 32536
      View Details
    • $3,000/Mo

      1,400 SF Office For Lease - Floor 1, Suite 104 - 102 Main St

      1,400 SF office space in revitalized historic district.
      102 - 104 N Main St, Crestview, FL 32536
      View Details
    • $2,500/Mo

      1,500 SF Office Space for Lease (Floor 1, Suite A)

      1,500 SF office space with four offices and conference room.
      100 Premier Dr, Crestview, FL 32539
      View Details

    FAQs

    What type of property is this?
    Flex space - Flex space with 3-phase power and fenced yard.
    Where is this flex space located?
    The property is located at 641 N Ferdon Boulevard Crestview, FL.
    What is the lease rate?
    The lease rate is $3,500 /Mo.
    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.
    (850) 651-2454
    We can help!
    Listing Contact
    KEITH R WOOD
    KEITH R WOOD
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    641 N Ferdon Boulevard, Crestview, FL 32536
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!