Live-Work Office and Retail
756 Industrial Drive Crestview, FL 32539
756 Industrial Drive, Crestview, FL, 32539
$500,000
For Sale
$500,000
Includes office/retail/salon space plus a 1-bedroom apartment with a separate entrance.
Property Size2,440 SF
Price / SF$204.92
Days on Market121
Property Features for 756 Industrial Drive
General Information
- Standard status
- Active
- Size
- 2,440 SF
- Property subtype
- General Commercial
Listing agency
ERA American Real Estate
(850) 685-3654
Listed by
- Ecn.rets.e4187
(850) 685-3654
Source
Xome
Added: Mar 23 Updated: Jul 21 at 2:20AM Checked: Jul 21 at 3:54AM
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
Investment Insights
Based on property information with market context.
This versatile commercial property offers a total of 2,440 square feet, including approximately 1,720 square feet of office/retail/salon space and a 720 square foot 1-bedroom apartment. The front portion features three offices, with the option to remove walls to create an open-concept layout. The rear area includes two additional offices and a shared common area, supporting flexible workspace arrangements.
The private apartment has its own separate entrance off Patton Street, which can support owner-occupant use or additional rental income. The building is located on Industrial Drive with convenient accessibility.
Recent upgrades include a 2021 roof and 2020 AC. The property may also allow for an additional building on the lot, subject to City of Crestview review, as referenced in the provided city letter.
The private apartment has its own separate entrance off Patton Street, which can support owner-occupant use or additional rental income. The building is located on Industrial Drive with convenient accessibility.
Recent upgrades include a 2021 roof and 2020 AC. The property may also allow for an additional building on the lot, subject to City of Crestview review, as referenced in the provided city letter.
Key Highlights
- Total 2,440 SF commercial property with approx. 1,720 SF office/retail/salon space plus a 720 SF 1‑bedroom apartment
- Front area includes three offices; walls may be removed to create an open‑concept layout
- Rear area has two additional offices plus a shared common area for flexible workspace options
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.2k | $22.20 |
| − Vacancy | −$4.1k | −$1.67 |
| EGI | $50.1k | $20.54 |
| − OpEx | −$15.0k | −$6.16 |
| NOI | $35.1k | $14.37 |
2,440 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$501.1K
$438.4K – $584.6K
NOI $35,074 @ 7.0% cap · market cap 7.01%
Second Best
Office B
$450.2K
$393.9K – $525.2K
NOI $31,513 @ 7.0% cap · market cap 6.30%
Theoretical Best
Specialty Retail
$940.3K
$822.8K – $1.10M
NOI $65,821 @ 7.0% cap · market cap 13.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
NextHome Heroes Choice ...
Real Estate Agency
Kristal Jackson,Realtor-NextHome Heroes ...
Real Estate Agency
Tina Maples, Broker ...
Real Estate Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Live-work space - Includes office/retail/salon space plus a 1-bedroom apartment with a separate entrance.
Where is this live-work space located?
The property is located at 756 Industrial Drive Crestview, FL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Total 2,440 SF commercial property with approx. 1,720 SF office/retail/salon space plus a 720 SF 1‑bedroom apartment; Front area includes three offices; walls may be removed to create an open‑concept layout; Rear area has two additional offices plus a shared common area for flexible workspace options
