Commercial Real Estate Market in Crestview, FL
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
68 active listings and 1,346 off-market properties in Crestview, FL. Commercial property asks $216/SF to buy and $14.00/SF/Yr to lease.
Market Trends
Crestview, FL spans 170.4 square miles in Okaloosa County, Florida. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Crestview, FL runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Retail
Retail vacancy in Crestview, FL runs 5.4% across the South region in 2025, down from 7% in 2020.
Industrial
Industrial vacancy in Crestview, FL runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Multifamily
Multifamily vacancy in Crestview, FL runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 47.5%
- Commercial 25.3%
- Mixed use 10.6%
- Civic 10.3%
- Open space 3.4%
- Industrial 0.5%
- Planned_development 0.1%
Largest Zones share of zoned land by district
Crestview, FL zones 9,509 acres across 11 districts. Commercial zoning covers 25.3% of zoned land, residential 47.5%, open space 3.4% and industrial 0.5%. The largest single district is Single Family Medium Density Residential at 18.9%. For commercial buyers the practical constraint is that only 25.8% of land carries a commercial or industrial designation.
R-1, R-2, R-3, and MU zoning districts. The standards for home occupations are intended to ensure compatibility with other permitted use and with the residential character of the neighborhood. A. The following and similar scope of uses shall be considered home occupations: 1. An office, such as for professionals and general business. 2. Instruction for teach…
Market overview
Demographics & Economy
Crestview, FL has 57,556 residents in 22,021 households. Density runs 338 people per square mile. Median household income here is $77,060 and median gross rent $1,336 a month.
Tools
Lease vs Buy Breakeven
At $14.00/SF/Yr lease vs $216/SF buy → buying wins if held > 4 years.
At a 6.5% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Median Asking Price, $/SF | Median Asking Rent, $/SF/Yr |
|---|---|---|
| Valparaiso | — | $30.00 |
| Niceville | — | $21.00 |
Commercial property in Crestview, FL asks $216/SF.
Frequently Asked Questions
What is the median price per square foot for commercial property in Crestview?
How much does it cost to lease commercial space in Crestview?
Is it cheaper to lease or buy commercial space in Crestview?
What zoning applies to commercial property in Crestview?
Where does Realmo's Crestview market data come from?
Methodology & data sources
- Asking prices and medians
- There are 36 active for-sale and 32 active for-lease listings in Crestview, FL. The medians are based on 13 of the for-sale and 11 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 9,509 zoned acres across 11 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
