Retail Space with Liquor
For Sale
$1,695,000
739 N Ferdon Boulevard, Crestview, FL 32536
Commercial for Sale, Crestview, FL
Property Size4,695 SF
Lot Size1.03 Acres
Price / SF$361.02
Days on Market128
Property Features for 739 N Ferdon Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Head north on FL-283 or FL-395 Take it all the way to US-331 N. Turn right onto US-331 N Continue for about 12-15 miles until you reach DeFuniak Springs. Turn left onto US-90 W Stay on US-90 W for about 14 miles toward Crestview. Turn right onto N Ferdon Blvd / FL-85 N This is the main commercial corridor through Crestview. Continue north for about 1 mile property on the left
Subdivision
25 - Crestview Area
Standard status
Active
APN
08-3N-23-0000-0025-0010
Lot size
1.03 Acres
Taxes and HOA fees
Tax Description
Beg Se Cor Of Nw1/4 Of Se1/4 W 543.84 Ft To W R/W L&N Nely Alg R/W 565 Ft To Pob W 298.3 Ft To E R/W Hwy Ne Alg Hy 189 Ft S 78 Deg E 281.26 Ft To L&N R/W Sw Alg R/W 126.96 Ft To Pob 1087-156
Legal Description
Beg Se Cor Of Nw1/4 Of Se1/4 W 543.84 Ft To W R/W L&N Nely Alg R/W 565 Ft To Pob W 298.3 Ft To E R/W Hwy Ne Alg Hy 189 Ft S 78 Deg E 281.26 Ft To L&N R/W Sw Alg R/W 126.96 Ft To Pob 1087-156
Listing Agency:
NBI Properties Inc
(850) 243-0007
Listed By:
Dustin Parkman · License #3307056
(850) 218-8408
Added: May 7
Changed: Sep 11
Last Checked: Sep 11 at 3:06PM
MLS# 1002526
Copyright © 2026 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This retail property occupies 1.03 acres along N Ferdon Boulevard in Crestview, with an existing bar operation associated with the site. The sale includes a 6COP liquor license, adding a specific operational asset to the real estate offering.
The property has direct frontage on N Ferdon Boulevard, a commercial corridor with reported daily traffic of 30,000 vehicles. The site is located at 739 N Ferdon Boulevard in Crestview, Florida, within Okaloosa County and the 32536 postal area.
The property has direct frontage on N Ferdon Boulevard, a commercial corridor with reported daily traffic of 30,000 vehicles. The site is located at 739 N Ferdon Boulevard in Crestview, Florida, within Okaloosa County and the 32536 postal area.
Key Highlights
- Retail property situated on 1.03 acres
- Direct frontage on N Ferdon Boulevard
- Reported daily traffic count of 30,000 vehicles
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
$126,651
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
7.47%
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%
$2,533,020
$2.5M
Cap Rate 7%
$1,809,300
$1.8M
Cap Rate 9%
$1,407,233
$1.4M
Market Conditions
NOI Build-Up for 4,695 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
$174.1K $37.08/SF
− Vacancy
−$5.2K −$1.11/SF
EGI
$168.9K $35.97/SF
− OpEx
−$42.2K −$8.99/SF
NOI
$126.7K $26.98/SF
Area
Okaloosa County, FL
Vacancy
3.00%
Lease Rate
$37.08 /SF/Yr
Expense Ratio
25.00%
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%
$2,533,020
Cap Rate 7%
$1,809,300
Cap Rate 9%
$1,407,233
Alternative Uses
Best Use
Specialty Retail
$1.81M
$1.58M – $2.11M
NOI $126,651 @ 7.0% cap · market cap 7.47%
Second Best
Retail
$964.1K
$843.6K – $1.12M
NOI $67,488 @ 7.0% cap · market cap 3.98%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
30,000 VPD
Traffic count
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
83k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 77%
Home Improvements & Furnishings 12%
Apparel 7%
Dining 4%
CEFCO
Shops & Services
27,708 visits/mo
0.2 miles
Dollar Tree
Shops & Services
19,396 visits/mo
0.3 miles
Consolidated Ace Hdwe & Sply Inc
Home Improvements & Furnishings
9,755 visits/mo
0.2 miles
Tom Thumb Food Stores
Shops & Services
6,991 visits/mo
0.2 miles
Goodwill
Apparel
5,803 visits/mo
0.1 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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Direct frontage along N Ferdon Boulevard places the property on a corridor carrying 30,000 vehicles daily.
Where is this retail space located?
The property is located at 739 N Ferdon Boulevard Crestview, FL.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Retail property situated on 1.03 acres; Direct frontage on N Ferdon Boulevard; Reported daily traffic count of 30,000 vehicles
