Versatile Commercial Property in
For Sale
$799,000
95 John Sims Pkwy E, Niceville, FL 32578
Commercial property with warehouse, office space, and ample parking.
Property Size6,774 SF
Days on Market178
Property Features for 95 John Sims Pkwy E
General Information
Standard status
Active
Size
6,774 SF
Property subtype
Retail
Building Details
Building Size
6,774 SF
Year Built
1956
Listing Agency:
Prime Realty
Listed By:
Tyler Saldutti
(904) 373-0578
Source:
Primerealtyinc
Added: Mar 26
Changed: Sep 14
Last Checked: Sep 18 at 6:17AM
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 Prime Realty
Investment Insights
Based on property information with market context.
Located in Niceville, Florida, this commercial property features industrial warehouse space, office space, and ample parking. Currently, the property is home to a thriving HVAC company. The industrial warehouse includes high ceilings and large open spaces suitable for storage, manufacturing, or distribution. The office area is well-appointed, offering a comfortable workspace for administrative and managerial tasks. Extensive parking facilities are available, ensuring convenience for employees, clients, and service vehicles. The property's central location in Niceville provides easy access to all of Okaloosa County and the surrounding areas, enhancing business reach and efficiency.
Key Highlights
- Prime location in Niceville, Florida, providing easy access to all of Okaloosa County and surrounding areas.
- Versatile property suitable for various business needs, currently operating as a successful HVAC company.
- Industrial warehouse space with high ceilings and large open spaces, ideal for storage, manufacturing, or distribution.**
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
$46,045
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
5.76%
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%
$920,900
$920.9K
Cap Rate 7%
$657,786
$657.8K
Cap Rate 9%
$511,611
$511.6K
Market Conditions
NOI Build-Up for 6,774 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
$56.9K $8.40/SF
− Vacancy
−$2.7K −$0.40/SF
EGI
$54.2K $8.00/SF
− OpEx
−$8.1K −$1.20/SF
NOI
$46.0K $6.80/SF
Area
Okaloosa County, FL
Vacancy
4.80%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$920,900
Cap Rate 7%
$657,786
Cap Rate 9%
$511,611
Alternative Uses
Best Use
Flex RnD
$1.06M
$931.3K – $1.24M
NOI $74,500 @ 7.0% cap · market cap 9.32%
Second Best
Warehouse
$657.8K
$575.6K – $767.4K
NOI $46,045 @ 7.0% cap · market cap 5.76%
Theoretical Best
Specialty Retail
$2.61M
$2.28M – $3.05M
NOI $182,733 @ 7.0% cap · market cap 22.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32578, FL
35,075
Population
14,578
Households
2.4
Avg Household Size
42
Median Age
45%
College-Educated
97%
High-School Grad
23.2 sq mi
ZIP Area
1,512
Density / Sq Mi
$105,858
Median Household Income
$52,028
Median Earnings
$1,744
Median Rent
$414,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial 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?
Flex space - Commercial property with warehouse, office space, and ample parking.
Where is this flex space located?
The property is located at 95 John Sims Pkwy E Niceville, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Prime location in Niceville, Florida, providing easy access to all of Okaloosa County and surrounding areas.; Versatile property suitable for various business needs, currently operating as a successful HVAC company.; Industrial warehouse space with high ceilings and large open spaces, ideal for storage, manufacturing, or distribution.**
