Mixed-Use Property with
For Sale
$490,000
756 Industrial Drive, Crestview, FL 32539
Commercial zoning and a separate entrance serve a one-bedroom residence alongside flexible office and retail space.
Property Size2,440 SF
Price / SF$200.82
Days on Market111
Property Features for 756 Industrial Drive
General Information
Standard status
Active
Size
2,440 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Mixed-Use Components
retail, residential
Listing Agency:
ERA American Real Estate
(850) 682-4822
Listed By:
Tina M Maples · License #3092472
(850) 685-3654
Source:
Emeraldgulfrealty
Added: Jul 6
Changed: Oct 23
Last Checked: Oct 23 at 5:13PM
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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Investment Insights
Based on property information with market context.
This mixed-use property contains 2,440 square feet, with about 1,720 square feet arranged for office, retail, or salon use and a 720-square-foot, one-bedroom apartment. The commercial portion has three offices at the front and two more offices with a shared common area at the rear; walls in the front section can be removed to create a more open layout. The residence has its own entrance from Patton Street. Zoning is Commercial.
Located at 756 Industrial Drive in Crestview, the property has a roof installed in 2021 and an air-conditioning system from 2020.
Located at 756 Industrial Drive in Crestview, the property has a roof installed in 2021 and an air-conditioning system from 2020.
Key Highlights
- 2,440 square feet total: approximately 1,720 square feet of commercial space and a 720‑square‑foot apartment
- One‑bedroom apartment with a separate entrance off Patton Street
- Three front offices, plus two rear offices and a shared common area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,074
Cap Rate
7.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,480
$701.5K
Cap Rate 7%
$501,057
$501.1K
Cap Rate 9%
$389,711
$389.7K
Market Conditions
NOI Build-Up for 2,440 SF
Gross rent
$54.2K $22.20/SF
− Vacancy
−$4.1K −$1.67/SF
EGI
$50.1K $20.54/SF
− OpEx
−$15.0K −$6.16/SF
NOI
$35.1K $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%
$701,480
Cap Rate 7%
$501,057
Cap Rate 9%
$389,711
Alternative Uses
Best Use
Retail
$501.1K
$438.4K – $584.6K
NOI $35,074 @ 7.0% cap · market cap 7.16%
Second Best
Mixed Use
$423.5K
$370.6K – $494.1K
NOI $29,646 @ 7.0% cap · market cap 6.05%
Theoretical Best
Specialty Retail
$940.3K
$822.8K – $1.10M
NOI $65,821 @ 7.0% cap · market cap 13.43%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
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 32539, FL
31,749
Population
12,642
Households
2.5
Avg Household Size
37
Median Age
24%
College-Educated
93%
High-School Grad
127.9 sq mi
ZIP Area
248
Density / Sq Mi
$72,521
Median Household Income
$40,064
Median Earnings
$1,323
Median Rent
$272,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial zoning and a separate entrance serve a one-bedroom residence alongside flexible office and retail space.
Where is this mixed-use property located?
The property is located at 756 Industrial Drive Crestview, FL.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 2,440 square feet total: approximately 1,720 square feet of commercial space and a 720‑square‑foot apartment; One‑bedroom apartment with a separate entrance off Patton Street; Three front offices, plus two rear offices and a shared common area
