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    Commercial Property on Four Corners Title is generated by Realmo AI

    6705 Berryhill Street, Milton, FL 32570

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    Prime commercial property with multiple potential uses and high visibility.

    Type:Land
    Property size:
    2,496 SF
    Lot size:
    0.54 Acres
    Price / SF:
    $260/SF
    Added:
    Nov 22, 2022
    Days on Market:
    1287
    Last Refresh:
    May 19 at 9:18 pm

    Property Features for 6705 Berryhill Street

    General Information

    Standard status
    Active
    Size
    2,496 SF
    Lot size
    0.54 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Phillip Palmer

    Listing agent Phillip Palmer

    Listing office BUY A HOME REALTY

    Listing date Nov 22, 2022

    Source Crexi

    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 BUY A HOME REALTY

    HighLights

    • Prime commercial property with C‑1 zoning, offering many possible uses.
    • Located on .54 acres with significant frontage on four streets (Stewart, Berryhill, Bruner, and Rose) and 4 street corners.
    • Billboard sign rental for additional income.
    • Total of 2496 sq ft of building space (1776 sq ft in main house and 720 sq ft in additional building).
    • Features 908 sq ft of covered patio and 582 sq ft of covered porch.
    • Currently operating as an Antique Store, Real Estate Office, and U‑Haul Distributor.

    Overview

    This commercial property, zoned C-1, is currently operating as an antique store, real estate office, and U-Haul distributor. The property offers multiple potential uses and includes a billboard sign rental. The main house features 1776 square feet, with an additional 720 square feet in a separate building, totaling 2496 square feet. Situated on 0.54 acres, the property has frontage on four streets: 180 feet on Stewart Street, 151 feet on Berryhill Street, 151 feet on Bruner Street, and 144 feet on Rose Street. The property also includes 908 square feet of covered patio and 582 square feet of covered porch. The property is being sold as-is.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • The Purple Tulip Florist Inc. — 5418 Stewart St, Milton, FL 32570
    • The Open Rose Flowers & Gifts — 6434 Open Rose Dr, Milton, FL 32570

    Location Insight

    • Map
    • Local Demand
    City
    Milton
    County
    Santa Rosa
    State
    Florida
    Longitude
    -87.0427778
    Latitude
    30.6251039

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    FAQs

    What type of property is this?
    Storefront property - Prime commercial property with multiple potential uses and high visibility.
    Where is this storefront property located?
    The property is located at 6705 Berryhill Street Milton, FL.
    What is the asking price?
    The asking price for this property is $649,900.
    What are key features of this property?
    This property features: Prime commercial property with C‑1 zoning, offering many possible uses.; Located on .54 acres with significant frontage on four streets (Stewart, Berryhill, Bruner, and Rose) and 4 street corners.; Billboard sign rental for additional income.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Phillip Palmer
    Request Owner's contact information
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    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.

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