Building Details

Building Size 6,774 SF

Year Built 1956

Listing Agency: Prime Realty

Listed By: Tyler Saldutti Show Phone

Source: Primerealtyinc

Added: Mar 26 Changed: Nov 1 Last Checked: Nov 1 at 3:02AM

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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 / Yr

$46,045

Cap Rate

5.76%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$920,900 $920.9K

Cap Rate 7%

$657,786 $657.8K

Cap Rate 9%

$511,611 $511.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,774 SF

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 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 (±1% cap)

NOI $74,500 @ 7.0% cap · market cap 9.32%

Second Best

Warehouse

$657.8K

$575.6K – $767.4K (±1% cap)

NOI $46,045 @ 7.0% cap · market cap 5.76%

Theoretical Best

Specialty Retail

$2.61M

$2.28M – $3.05M (±1% cap)

NOI $182,733 @ 7.0% cap · market cap 22.87%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

We Care Heating, ... HVAC Service

Suggested Use

Top Pick Big Box & Wholesale Store Grocery & Convenience Store Law Firm Bakery Auto Parts Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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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.**