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Property profile & analytics
FOR LEASE
Strip malls
128 John King Rd 20, Crestview, FL 32539
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-1865777
For Lease
1 / 7
$1,450/Mo
128 John King Rd,Unit 20, Crestview, FL 32539
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Property summary
AI-generated overview
This exceptional 8,040 square foot retail building, situated on a 0.86-acre lot in Okaloosa County, presents a fantastic investment opportunity. Located on John King Road, this single-tenant property boasts a highly desirable South-end location, ideal for a variety of professional uses, including medical offices. The building, constructed in 1995, has recently undergone renovations, ensuring modern amenities and a fresh aesthetic. The property is zoned Commercial and features a total of 8,040 square feet, with 1,000 square feet currently available for lease. The convenient location and updated condition make this property an attractive prospect for businesses seeking a well-maintained space in a thriving area. The property's Assessed Parcel Number (APN) is 32-3N-23-0000-0025-0000. This is a rare opportunity to acquire a well-positioned retail space in a high-demand area. The ample square footage and convenient location offer significant potential for growth and profitability. Don't miss this chance to secure a prime commercial property in Okaloosa County. Serious inquiries only.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1995
Construction
STEEL FRAME
Total area
9,148 SF
Lot
0.86 ac (37,461 SF)
APN
32-3N-23-0000-0025-0000
UPID
US18-1865777
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
Current use
Occupant on record · Public records
-
Alterations By Ayfer (Bike/Boat/Book/etc) Store
-
Red 7 Tees Clothing Supplier Commercial Printer
-
Dr. Henry A. Boilini, MD Physician
-
KawaiiCo Lashes & Brows Hair Salon
-
Jason E. Cooper, PhD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$705k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.07M
Blend (final)
Blend
$1.02M
Owner & transaction history
Emerald Coast Investment Holdings L · 1 yrs held
Emerald Coast Investment Holdings L
since 2025
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.7M
+17.7%
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 Crestview submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Crestview 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
$660,000
ML approach
$705,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,430,000
Current use
COMMERCIAL (GENERAL)
$1,685,000
Change: +18% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,410,000
Change: -1% · Conversion: Difficult
RETAIL STORES
$1,190,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$1.02M
Range $918k – $1.12M · ±10% · vs last sale $1.05M (Feb 1 2025)
Last sale anchor
$1.05M
Feb 1 2025
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
$111 / 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
$9,459
Tax year 2023
Assessed value
$584,668
Assessed 2023
Previous assessed
$560,907
+4.2% YoY
Effective rate
1.62%
On assessed value
Assessed land
$153,802
Assessed improvement
$430,866
Land market value
$153,802
Improvement market value
$430,866
Total market value
$584,668
Applied tax rate
3.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1995
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
10
Rooms
30
Total area
9,148 SF
Lot
0.86 ac (37,461 SF)
APN
32-3N-23-0000-0025-0000
UPID
US18-1865777
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.4M
RETAIL STORES
Est. value
$1.2M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1995
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
10
Rooms
30
Lot
0.86 ac
Current owner
From public records · entity-resolved
Emerald Coast Investment Holdings L
Entity
Mailing address
1020 S FERDON BLVD, CRESTVIEW, FL 32536-4510
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2025
$1,050,000
Emerald Coast Investment Holdings L
Muzulu Investments INC
Warranty Deed
$840,000 · Servisfirst Bank
Jul 12, 2021
$650,000
H&s Investments Of West Florida INC
Emerald Coast Wellness Center LLC
Warranty Deed
—
Jul 6, 2010
$600,000
Emerald Coast Wellness Center
Bmb LLC
Warranty Deed
—
Aug 16, 2007
—
Bmb LLC
Gates,michael
Quit Claim Deed
related
—
Jul 19, 2004
$300,000
Bmb LLC
Shorline Investments
Warranty Deed
—
Sep 8, 1997
$99,000
Ralph Armstrong
Trau,philip E & Martha
Grant Deed
$94,000 · Seller
Aug 21, 1996
$15,800
Riles Construction Of Destin
Kemp Bros Construction INC
Grant Deed
$69,000 · First National Bank & Trust Co
May 16, 1996
$35,000
Pnilip E Trau
John & John INC
Grant Deed
—
—
—
Bmb LLC
—
Deed Of Trust
related
$255,000 · Beach Community Bank
—
—
Emerald Coast Wellness Ctr LLC
—
Deed Of Trust
related
$450,000 · Compass 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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