Exxon Gas Station For
For Sale
Contact for pricing
698 N Ferdon Blvd, Crestview, FL 32536
High-traffic gas station with real estate in Crestview, Florida.
Property Size2,342 SF
Lot Size0.61 Acres
Price / SF$597.78
Days on Market682
Property Features for 698 N Ferdon Blvd
General Information
Standard status
Active
Size
2,342 SF
Class
B
Lot size
0.61 Acres
Property subtype
Retail
Zoning
C-1
Building Details
Year Built
1998
Listing Agency:
FMIG
(850) 889-2571
Listed By:
Faith Morgan · License ##BK3551079
Source:
Crexi
Added: Sep 27, 2024
Changed: Aug 8
Last Checked: May 12 at 9:02PM
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 FMIG
Investment Insights
Based on property information with market context.
This is an opportunity to own a high-visibility gas station in Crestview, Florida, situated on the Gulf Coast. The property is strategically located near I-10, E James Lee Blvd, HWY 85 N, and Eglin Air Force Base. The business and real estate are included in the sale. The property features a 0.61-acre lot with front and rear parking. It includes 2 fuel pumps. Inside, the station features a commercial kitchen/deli with Krispy Krunchy Chicken, a beer cave, and two walk-in coolers. The restrooms are tiled. The roof is in excellent condition. The business has approximately $80,000 in monthly inside sales. A new Exxon-branded sign is scheduled for installation in October 2024. The property is suitable for owner-operators or investors.
Key Highlights
- High‑traffic location near I‑10, E James Lee Blvd, HWY 85 N, and Eglin Air Force Base.
- Business and real estate included in the sale.
- Approximately $80,000 in monthly inside sales.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,177
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,263,540
$1.3M
Cap Rate 7%
$902,529
$902.5K
Cap Rate 9%
$701,967
$702.0K
Market Conditions
NOI Build-Up for 2,342 SF
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.
Gross rent
$86.8K $37.08/SF
− Vacancy
−$2.6K −$1.11/SF
EGI
$84.2K $35.97/SF
− OpEx
−$21.1K −$8.99/SF
NOI
$63.2K $26.98/SF
Area
Okaloosa County, FL
Vacancy
3.00%
Lease Rate
$37.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,263,540
Cap Rate 7%
$902,529
Cap Rate 9%
$701,967
Alternative Uses
Best Use
Specialty Retail
$902.5K
$789.7K – $1.05M
NOI $63,177 @ 7.0% cap · market cap 4.51%
Second Best
Retail
$480.9K
$420.8K – $561.1K
NOI $33,665 @ 7.0% cap · market cap 2.40%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
81k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Home Improvements & Furnishings 12%
Apparel 7%
Dining 5%
CEFCO
Shops & Services
27,708 visits/mo
0.4 miles
Dollar Tree
Shops & Services
19,396 visits/mo
0.1 miles
Consolidated Ace Hdwe & Sply Inc
Home Improvements & Furnishings
9,755 visits/mo
0.1 miles
Tom Thumb Food Stores
Shops & Services
6,991 visits/mo
0.4 miles
Goodwill
Apparel
5,803 visits/mo
0.4 miles
Demographics for 32536, FL
25,807
Population
9,379
Households
2.8
Avg Household Size
34
Median Age
27%
College-Educated
93%
High-School Grad
42.5 sq mi
ZIP Area
607
Density / Sq Mi
$82,643
Median Household Income
$40,845
Median Earnings
$1,351
Median Rent
$280,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Gas station - High-traffic gas station with real estate in Crestview, Florida.
Where is this gas station located?
The property is located at 698 N Ferdon Blvd Crestview, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: High‑traffic location near I‑10, E James Lee Blvd, HWY 85 N, and Eglin Air Force Base.; Business and real estate included in the sale.; Approximately $80,000 in monthly inside sales.
