Versatile Commercial Building in Milton,
For Sale
$225,000
6444 old 90 highway, Milton, FL 32570
2,100 SF HCD-Multiple Uses! Former Mechanic Shop For Sale
Property Size2,251 SF
Lot Size0.30 Acres
Price / SF$99.96
Days on Market557
Property Features for 6444 old 90 highway
General Information
Standard status
Active
Property type
Automotive properties, Other mixed-use properties, Other industrial properties, Retail properties & Spaces, Mixed-use properties, Industrial properties
Size
2,251 SF
Net Rentable
2,100 SF
Elevators
N/A
Lot size
0.30 Acres
Building Details
Buildings
1
Stories
1
Listing Agency:
(850) 564-0120
Listed By:
Paul
(850) 564-0120
Added: Feb 12, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This 2,100 square foot metal building is located in Milton, Florida, on a 0.3-acre lot at 6444 Old 90 Highway. The property offers convenient access to major interstates and international airports. Previously used as a mechanic shop, the building features three bays, each equipped with interior air and water lines. The building's construction includes 10-foot roll-up doors. An on-site office provides functional workspace and includes a bathroom. The property is zoned for highway commercial use, making it suitable for a range of potential businesses. The building's size is 2,251 square feet, with 2,100 square feet of net usable 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
$20,056
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
8.91%
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%
$401,120
$401.1K
Cap Rate 7%
$286,514
$286.5K
Cap Rate 9%
$222,844
$222.8K
Market Conditions
NOI Build-Up for 2,251 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
$36.5K $16.20/SF
− Vacancy
−$4.4K −$1.94/SF
EGI
$32.1K $14.26/SF
− OpEx
−$12.0K −$5.35/SF
NOI
$20.1K $8.91/SF
Area
Santa Rosa County, FL
Vacancy
12.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
37.50%
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%
$401,120
Cap Rate 7%
$286,514
Cap Rate 9%
$222,844
Alternative Uses
Best Use
Retail
$346.0K
$302.8K – $403.7K
NOI $24,222 @ 7.0% cap · market cap 10.77%
Second Best
Mixed Use
$286.5K
$250.7K – $334.3K
NOI $20,056 @ 7.0% cap · market cap 8.91%
Theoretical Best
Office A
$554.3K
$485.0K – $646.7K
NOI $38,800 @ 7.0% cap · market cap 17.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32570, FL
33,144
Population
15,387
Households
2.2
Avg Household Size
41
Median Age
23%
College-Educated
92%
High-School Grad
301.1 sq mi
ZIP Area
110
Density / Sq Mi
$73,615
Median Household Income
$38,394
Median Earnings
$1,233
Median Rent
$240,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Automotive property - 2,100 SF HCD-Multiple Uses! Former Mechanic Shop For Sale
Where is this automotive property located?
The property is located at 6444 old 90 highway Milton, FL.
What is the asking price?
The asking price for this property is $225,000.
