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Property profile & analytics
OFF-MARKET
Estimated value
$6,740,000
Motels
101 Hwy 85th N Niceville, FL 32578-1905
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-2928127
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1988
Construction
STEEL FRAME
Total area
18,182 SF
Lot
3.35 ac (145,925 SF)
APN
06-1S-22-0000-0023-00A0
UPID
US18-2928127
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.89M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.74M
Owner & transaction history
Buffalo Niceville LLC · 4 yrs held
Buffalo Niceville LLC
since 2022
Last sale
$6.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$10.6M
+1,230.7%
Office building
$6.7M
+734.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Niceville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Niceville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$7,065,000
ML approach
$6,890,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$10,610,000
Change: +1,231% · Conversion: Difficult
OFFICE BUILDING
$6,655,000
Change: +735% · Conversion: Difficult
Blend value · Realmo final
$6.74M
Range $6.07M – $7.41M · ±10% · vs last sale $6.50M (Jan 19 2022)
Last sale anchor
$6.50M
Jan 19 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$371 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$60,033
Tax year 2023
Assessed value
$4,503,211
Assessed 2023
Previous assessed
$4,359,329
+3.3% YoY
Effective rate
1.33%
On assessed value
Assessed land
$534,266
Assessed improvement
$3,968,945
Land market value
$534,266
Improvement market value
$3,968,945
Total market value
$4,503,211
Applied tax rate
6.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Motels
Use group
MOTEL
Status
Off-Market
Year built
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
5
Stories
2
Units
24
Rooms
54
Total area
18,182 SF
Lot
3.35 ac (145,925 SF)
APN
06-1S-22-0000-0023-00A0
UPID
US18-2928127
Jurisdiction
OKALOOSA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$10.6M
OFFICE BUILDING
Est. value
$6.7M
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
5
Units
24
Rooms
54
Lot
3.35 ac
Current owner
From public records · entity-resolved
Buffalo Niceville LLC
Entity
Mailing address
101 HWY 85TH N, NICEVILLE, FL 32578-1905
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 19, 2022
$6,500,000
Buffalo Niceville LLC
N K S Of North Carolina LLC
Special Warranty Deed
$5,000,000 · Us Metro Bank
Aug 9, 2017
$4,500,000
N K S Of North Carolina LLC
J And K Sai Hospitality LLC
Warranty Deed
—
Jun 21, 2016
—
J & K Sai Hospitality LLC
—
Deed
related
$2,165,000 · Bancorpsouth
May 15, 2013
$2,700,000
J & K Sai Hospitality LLC
Valparaiso Realty Co
Grant Deed
—
—
—
J & K Sai Hospitality LLC
—
Deed Of Trust
related
$2,150,000 · Celtic Bank Corp
—
—
J & K Sai Hospitality LLC
—
Deed Of Trust
related
$2,165,000 · Bancorpsouth
—
—
J & K Sai Hospitality LLC
—
Deed Of Trust
related
$305,000 · Bancorpsouth
—
—
Valparaiso Realty Co
—
Deed Of Trust
related
$2,612,852 · First Florida Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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