Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1850 John Sims E Pkwy Niceville, FL 32578-2395
    Back to Search
    Property profile & analytics

    1850 John Sims E Pkwy, Niceville, FL 32578-2395

    View on Map
    • Warehouses
    • 84,544 SF
    • 2.09 lot acres
    Off-Market
    Last Sale Aug 27, 2024
    $10,500,000
    Property ID
    US18-6458671
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mullet Creek Storage / Storage Facility

    Property Details for 1850 John Sims E Pkwy

    Year built
    2021
    Construction
    STEEL FRAME
    Lot size
    2.09 lot acres
    Property type
    Warehouses
    APN
    09-1S-22-0000-0008-0010
    APU
    091S22000000080010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 28, 2024 $10,500,000 Gmsp Niceville LLC Corner Storage Niceville LLC Special Warranty Deed $7M · Incref Investments Bmo Non Borrower
    Jun 3, 2020 — Corner Storage Niceville LLC — Deed · related $5.9M · Synovus Bk
    Feb 12, 2020 $1,500,000 Corner Storage Niceville LLC Randall P Roberts Warranty Deed —
    Apr 1, 2008 — Roberts F T Family Trust Ranflo Grant Deed —
    — — Corner Storage Niceville LLC — Deed Of Trust · related $5.9M · Synovus Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Niceville
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.4461
    Latitude
    30.5118
    CBSA code
    18880
    CBSA name
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $87,887
    $913,593
    $5,678,962
    $6,592,555
    -
    $913,593
    $5,678,962
    $6,592,555

    Comparable in this City

    • Value Estimation
      $545,000
      4.00 Acres

      325 Cedar S Ave

      WAREHOUSE, STORAGE
      325 Cedar S Ave, Niceville, FL 32578-2608
      View Details
    • Value Estimation
      $555,000
      3.25 Acres

      800 White Pt Rd

      WAREHOUSE, STORAGE
      800 White Pt Rd, Niceville, FL 32578-3918
      View Details
    • Value Estimation by Request
      4,060 SF

      102 Bailey Dr

      WAREHOUSE, STORAGE
      102 Bailey Dr, Niceville, FL 32578-2727
      View Details
    • Value Estimation by Request
      2,500 SF

      1315 Partin N Dr

      MINI-WAREHOUSE, STORAGE
      1315 Partin N Dr, Niceville, FL 32578-1424
      View Details
    • Value Estimation
      $1,320,000
      9,600 SF

      797 Spencer Pl

      MINI-WAREHOUSE, STORAGE
      797 Spencer Pl, Niceville, FL 32578-1898
      View Details
    • Value Estimation
      $4,940,000
      20,740 SF

      4590 Hwy 20

      MINI-WAREHOUSE, STORAGE
      4590 Hwy 20, Niceville, FL 32578-9724
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Versatile Commercial Property in Niceville

      Commercial property with warehouse, office space, and ample parking.
      95 E John Sims Pkwy, Niceville, FL 32578
      View Details
    • Contact for pricing
      5,584 SF

      Industrial Warehouse with Office Space

      Modern warehouse with office, fenced yard, and ample parking.
      1456 Pine St, Niceville, FL 32578
      View Details
    • $1,025,000

      Industrial Warehouse with Office Space

      Modern industrial warehouse featuring office space, fenced yard, and storage.
      1456 Pines St, Niceville, FL 32578
      View Details
    • Contact for pricing
      6,774 SF

      Versatile Commercial Property in Niceville

      Commercial property with warehouse, office space, and ample parking.
      95 E John Sims Pkwy, Niceville, FL 32578
      View Details
    • Contact for pricing
      65,414 SF

      Niceville Self-Storage and Industrial Property

      65,414 SF self-storage and industrial property in Niceville, Florida.
      800 White Point Rd, Niceville, FL 32578
      View Details

    Similar Nearby for Lease

    • $25,000
      47,906 SF

      Versatile Commercial Building for Lease

      Large, well-maintained commercial building with multiple uses available for lease.
      200 Hart St, Niceville, FL 32578
      View Details
    • $3,250 /Mo
      3,000 SF

      Niceville Office Space For Rent

      3000 SF office space available for lease.
      212 Government Ave, Niceville, FL 32578
      View Details
    • $13 SF/Yr

      Niceville Retail/Office Freestanding Building

      3,000 SF retail/office space in the heart of Niceville.
      212 Government Ave, Niceville, FL 32578
      View Details
    • Contact for pricing
      7,116 SF

      Class A Retail/Office Space

      Highly visible retail/office spaces in Niceville, strong traffic flow.
      4576 End Cap, Niceville, FL 32578
      View Details

    Property Visit Statistics

    • Visits by month
      0
    • Visitors by month
      674
    • Avg Time on site
      30 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1850 John Sims E Pkwy
    Niceville, FL 32578-2395
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1850 John Sims E Pkwy, Niceville, FL, 32578
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!