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    Crestview Commercial Land Opportunity Title is generated by Realmo AI

    Hwy 85 and Airport Road, Crestview, FL 32536

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    19-acre commercial land in rapidly growing Crestview market.

    Type:Land
    Property size:
    19 SF
    Added:
    Nov 21, 2025
    Days on Market:
    193
    Last Refresh:
    May 8 at 11:15 pm

    Property Features for Hwy 85 and Airport Road

    General Information

    Standard status
    Active
    Size
    19 SF
    Property subtype
    Land

    We can help!

    Listing Contact
    Harry Bell Jr.
    Harry Bell Jr.

    Listing agent Harry Bell Jr. License #AL #000078384-1

    Listing office Bellcore Commercial LLC

    Listing date Nov 21, 2025

    Source Bellcorecommercial

    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 Bellcore Commercial LLC

    HighLights

    • 19± Acres of commercial land in the rapidly growing Crestview market.
    • Located at the signaled major intersection of Hwy 85 and Airport Road with excellent visibility and convenient access.
    • Part of the new Publix at Northcrest Development.
    • High traffic counts on Hwy 85/Ferdon Blvd (over 25,500 cars per day).
    • Across the street from Crestview High School and Middle School.
    • Located in the booming Crestview MSA, one of the fastest‑growing MSAs in Florida.

    Overview

    This 19±-acre commercial land parcel presents an excellent opportunity for developers and investors in the rapidly growing Crestview market. Located at the signaled major intersection of Hwy 85 and Airport Road, the site is Phase II of the brand new Publix at Northcrest Development in North Crestview, offering excellent visibility and convenient ingress and egress. Hwy 85/Ferdon Blvd, the main thoroughfare in Crestview, experiences traffic counts exceeding 25,500 cars per day. The property is across the street from Crestview High School and Middle School and is in close proximity to several residential neighborhoods, restaurants, and national retailers, making it a desirable retail location in the booming Crestview market. The Crestview MSA, encompassing Okaloosa County and Walton County, is one of the fastest-growing MSAs in Florida, with a population of nearly 270,000 and growth of over 25% since 2000. The area is experiencing an economic boom due to its military, tourism, and fishing industries, with Okaloosa County leading Northwest Florida in healthcare. The site is next to the new Publix shopping center and offers grocery-anchored retail pads and outparcels. Strong daytime traffic is present on Hwy 85.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Crestview
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.5136
    Latitude
    30.7849

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    FAQs

    What type of property is this?
    Commercial land - 19-acre commercial land in rapidly growing Crestview market.
    Where is this commercial land located?
    The property is located at Hwy 85 and Airport Road Crestview, FL.
    What are key features of this property?
    This property features: 19± Acres of commercial land in the rapidly growing Crestview market.; Located at the signaled major intersection of Hwy 85 and Airport Road with excellent visibility and convenient access.; Part of the new Publix at Northcrest Development.
    (850) 240-0527
    We can help!
    Listing Contact
    Harry Bell Jr.
    Harry Bell Jr.
    Real Estate License ID: AL #000078384-1
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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.

    More about this property
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