Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    New Flex Space in Navarre Title is generated by Realmo AI

    3120 FL-87, Navarre, FL 32566

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    New flex space available for lease in May 2025.

    Type:Industrial
    Property size:
    5,000 SF
    Added:
    Dec 17, 2024
    Days on Market:
    532
    Last Refresh:
    May 12 at 8:12 pm

    Property Features for 3120 FL-87

    General Information

    Standard status
    Active
    Size
    5,000 SF
    Property subtype
    Industrial

    Spaces For Lease

    at 3120 FL-87 Contact us

    Available Space $22/Mo

    Size
    2,500 SF
    Type
    Industrial
    Price:$22
    Contact us

    We can help!

    Listing Contact
    Craig Barrett
    Craig Barrett

    Listing agent Craig Barrett License #FL 3294646

    Listing office NBI Properties

    Listing date Dec 17, 2024

    Source Crexi

    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 NBI Properties

    HighLights

    • New flex space available May 2025
    • Located on Hwy 87 in Navarre
    • Unit sizes available: 2500 sf and 5000 sf
    • All units are fully conditioned
    • Each unit has a 12' roll‑up door

    Overview

    New flex space is scheduled to be available in May 2025 on Hwy 87 in Navarre. The property includes two 2,500 square foot units and two 5,000 square foot units. All units will be fully conditioned and feature 12-foot roll-up doors.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Similar Places Nearby

    • Birria Babes — 8495 Navarre Pkwy, Navarre, FL 32566
    • Appalachian Anne's — 1922 fl-87, navarre, fl 32566

    Map

    City
    Navarre
    County
    Santa Rosa
    State
    Florida
    Longitude
    -86.8762
    Latitude
    30.5228

    Nearby Similar for Lease

    • $1,595/Mo
      7,275 SF

      Navarre, FL Office Space

      Office space available for rent in Navarre, Florida.
      1752 Sea Lark Lane, Navarre, FL 32566
      View Details
    • $3,250/Mo

      Navarre, FL Office Space

      Office space available for rent in Navarre, Florida.
      2045 Fountain Professional Court, Navarre, FL 32566
      View Details
    • $2,475/Mo

      Office Space in Navarre, FL

      Office space available for lease in Navarre, Florida.
      1756 Sea Lark Lane, Navarre, FL 32566
      View Details
    • Contact for pricing
      60,262 SF

      Retail Center Anchored by Publix

      60,262 SF retail center built in 2022.
      10040 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
      View Details
    • $22 SF/Yr
      5,000 SF

      New Flex Space on Hwy 87

      Flex space available for rent on Hwy 87 in Navarre.
      3120 Hwy 87, Navarre, FL 32566
      View Details
    • Contact for pricing
      1,162 SF

      Retail Space at Ortega Park

      Corner retail space with high visibility in established plaza.
      8740 Ortega Park Dr, Navarre, FL
      View Details
    • $17 SF/Yr

      1,162 SF Retail For Lease (Suite 8756) - Ortega Park Plaza

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

      1,562 SF Retail For Lease (Suite 8754) - Ortega Park Plaza

      1,562 SF retail space in Navarre near major retailers.
      8740 Ortega Park Dr, Navarre, FL 32566
      View Details
    • $22 SF/Yr
      5,000 SF

      New Flex Space in Navarre

      New flex space available for rent in May 2025.
      3120 Highway 87, NAVARRE, FL, 32566-9432
      View Details
    • $17 SF/Yr

      2,724 SF Suite 8754 & 8756 For Lease

      2,724 SF retail space in prime Navarre location.
      8740 Ortega Park Dr, Navarre, FL 32566
      View Details
    • $17 SF/Yr

      1,162 SF Suite 8740 For Lease

      Exceptional 1,162 sq ft retail space in Navarre, Florida.
      8740 Ortega Park Dr, Navarre, FL 32566
      View Details

    FAQs

    What type of property is this?
    Flex space - New flex space available for lease in May 2025.
    Where is this flex space located?
    The property is located at 3120 FL-87 Navarre, FL.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: New flex space available May 2025; Located on Hwy 87 in Navarre; Unit sizes available: 2500 sf and 5000 sf
    (850) 243-0007 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Craig Barrett
    Craig Barrett
    Real Estate License ID: FL 3294646
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    3120 FL-87, Navarre, FL 32566
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!