Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8740 Ortega Park Dr Navarre, FL 32566

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Navarre office building, prime location, high visibility.

    Lot size:
    13,704 SF

    Property Features for 8740 Ortega Park Dr

    General Information

    Property type
    Specialty properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    13,704 SF
    Class
    B
    Total Rate
    21412.5

    Building Details

    Year Built
    2001
    Buildings
    2
    Stories
    1

    Spaces For Lease

    at 8740 Ortega Park Dr, Navarre, FL 32566 Contact us
    Unit 8740

    $18 /Mo

    Size
    1,162 SF
    Contact us

    We can help!

    Listing Contact
    Robert Bell
    Robert Bell

    Listing Agent: Robert Bell

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This Navarre, Florida commercial property, Ortega Park Plaza, presents a compelling investment opportunity. The property consists of two single-story buildings totaling 13,704 square feet, situated on a 1.28-acre lot. Classified as a Class B property, it was constructed in 2001 and features a traditional office subtype within a mixed-use (Retail, Office, Special Purpose) zoning designation. The buildings are located at 8740 Ortega Park Dr, Navarre, FL 32566, with APN numbers 21-2S-26-0000-00135-0000 and 21-2S-26-0000-00136-0000 in Santa Rosa County. Currently, there is one retail space available, measuring 1,162 square feet, with availability anticipated at the end of February 2025. The property boasts excellent visibility and high traffic counts, situated along a major arterial road (US Highway 98) experiencing approximately 46,000 vehicles daily. Its strategic location in Navarre, Florida, places it near the Navarre Bridge, beaches, shopping, and restaurants, making it an ideal location for businesses seeking high visibility and access to a desirable trade area. The property's multiple tenancy structure offers flexibility for various business needs.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Navarre
    County
    Santa Rosa
    State
    Florida
    Longitude
    -86.857401965381
    Latitude
    30.403532399496

    Nearby Similar for Lease

    • $3,500 /Mo
      1,307 SF

      Navarre Office Space For Lease

      Commercial office space with multiple offices, reception, and conference room.
      2045 Fountain Professional Ct, Navarre, FL 32566
      View Details
    • $2,475 /Mo
      32,234 SF

      Navarre Office Space For Rent

      Approximately 1,500 sq ft office space available for rent.
      1756 Sea Lark Ln, Navarre, FL 32566
      View Details
    • $17 SF/Yr
      1,162 SF

      Retail Space at Ortega Park

      Corner retail space with high visibility in established plaza.
      8740 Ortega Park Dr, Navarre, FL 32566
      View Details
    • $34 SF/Yr
      1,475 SF

      Retail Space in Publix Center

      Retail space for lease in Wynnehaven Beach/Navarre, Florida.
      10040 Navarre Pkwy, Navarre, FL 32566
      View Details
    • $1,500 /Mo
      100 SF

      Navarre Parkway Food Truck Lot

      Food truck lot for lease with utilities included.
      9050 Navarre Pkwy, Navarre, FL 32566
      View Details
    • $15 SF/Yr
      5,761 SF

      Navarre Office Space For Rent

      Office space available for lease in Navarre, Florida.
      8888 Navarre Pkwy, Navarre, FL 32566
      View Details
    • $17 SF/Yr
      1,562 SF

      Navarre Retail Space - Ortega Plaza

      Prime Navarre retail space, 1562 sq ft.
      8740 Ortega Park Dr, Navarre, FL 32566
      View Details
    • $17 SF/Yr
      1,403 SF

      Navarre Office Suite - Prime Location

      1403 sq ft office, NNN lease, excellent visibility.
      8740 Ortega Park Dr, Navarre, FL 32566
      View Details
    • $17 SF/Yr
      1,162 SF

      Navarre Retail Space - Ortega Plaza

      Prime Navarre retail space, 1162 sq ft, NNN lease.
      8740 Ortega Park Dr, Navarre, FL 32566
      View Details
    • $17 SF/Yr
      1,162 SF

      Navarre Retail Space For Lease

      Prime Navarre location, 1162 sq ft, NNN lease.
      8740 Ortega Park Dr, Navarre, FL 32566
      View Details
    • $17 SF/Yr
      2,724 SF

      Navarre Retail Space For Lease

      Prime Navarre location, 2724 sq ft, NNN lease.
      8740 Ortega Park Dr, Navarre, FL 32566
      View Details
    • $2,500 /Mo
      2,400 SF

      Navarre Office Space: 2400 SF Lease

      Prime Navarre office, 2400 sq ft, ideal for salon.
      1911 FL-87, Navarre, FL 32566
      View Details

    FAQs

    What type of property is this?
    Specialty property - Navarre office building, prime location, high visibility.
    Where is this specialty property located?
    The property is located at 8740 Ortega Park Dr Navarre, FL.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: 1,162 SF retail space available February 2025.; Located on US Highway 98, experiencing 46,000 vehicles daily, offering high visibility.; Situated near Navarre Beach, shopping, and restaurants in a high-traffic area.
    (813) 761-7780 Call to check price and availability
    Request Owner's contact information
    8740 Ortega Park Dr Navarre, FL 32566
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8740 Ortega Park Dr
    Navarre, FL 32566
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    8740 Ortega Park Dr Navarre, FL 32566
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Robert Bell
    Robert Bell
    Real Estate License ID: SL698346
    (813) 761-7780 (850) 434-2244 (813) 416-9711
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!