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Property profile & analytics
OFF-MARKET
Estimated value
$1,295,000
Warehouses
1873 Cowen Rd Gulf Breeze, FL 32563-9580
Individually Owned
Absentee Owner
~
Est. High Equity
Property ID
US18-2198236
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2003
Construction
STEEL FRAME
Total area
15,765 SF
Lot
1.5 ac (65,340 SF)
Zoning code
M1
APN
19-2S-27-3440-00A00-0050
UPID
US18-2198236
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
-
Mister Sparky Electric Electrical Service General Contractor
-
Benjamin Franklin Plumbing of Gulf Breeze Plumbing Service General Contractor
-
One Hour Air Conditioning & Heating of Gulf Breeze Hardware & Home Improvement HVAC Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.46M
Comparable Approach
Comparable
$1.13M
Blend (final)
Blend
$1.30M
Owner & transaction history
Carlton R Bohon
Carlton R Bohon
since 2025
Last sale
$1.3M
4 recorded transactions
Zoning & alternative use
M1 · Gulf Breeze, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.1M
+35.9%
Office building
$1.7M
+11.2%
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 Gulf Breeze submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gulf Breeze 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,575,000
6.5%
$1,455,000
7%
$1,350,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,520,000
Current use
COMMERCIAL (GENERAL)
$2,070,000
Change: +36% · Conversion: Difficult
OFFICE BUILDING
$1,695,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$1.30M
Range $1.17M – $1.42M · ±10% · vs last sale $1.30M (Dec 2 2025)
Last sale anchor
$1.30M
Dec 2 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
$82 / 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
$11,000
Tax year 2023
Assessed value
$913,063
Assessed 2023
Previous assessed
$781,728
+16.8% YoY
Effective rate
1.20%
On assessed value
Assessed land
$245,024
Assessed improvement
$668,039
Land market value
$245,024
Improvement market value
$668,039
Total market value
$913,063
Applied tax rate
14.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2003
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Rooms
1
Total area
15,765 SF
Lot
1.5 ac (65,340 SF)
Zoning code
M1
APN
19-2S-27-3440-00A00-0050
UPID
US18-2198236
Jurisdiction
SANTA ROSA
Zoning & alternative use
M1 · Gulf Breeze, FLZoning M1 · permitted uses
M1 · Gulf Breeze, FL
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
WAREHOUSE, STORAGE Current
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$2.1M
OFFICE BUILDING
Est. value
$1.7M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
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
2003
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Rooms
1
Lot
1.5 ac
Current owner
From public records · entity-resolved
Carlton R Bohon
Individual
Mailing address
135 DOLPHIN PT RD, NICEVILLE, FL 32578-3719
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2025
$1,300,000
Carlton R Bohon
Lcaa LLC
Warranty Deed
—
May 29, 2020
—
Lcaa LLC
—
Deed
related
$949,894 · Whitney Bank
Oct 10, 2017
$735,000
Lcaa LLC
Dougle G Investment INC
Warranty Deed
—
—
—
Double G Investments INC
—
Deed Of Trust
related
$400,000 · Beach Community 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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