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Property profile & analytics
OFF-MARKET
Estimated value
$1,050,000
Retail properties & Spaces
1955th Bluewater Blvd Niceville, FL 32578
Individually Owned
2-yr Hold
Free & Clear
Property ID
US18-6459287
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
1981
Construction
STEEL FRAME
Total area
7,194 SF
Lot
48.06 ac (2,093,493 SF)
APN
22-1S-22-0000-0001-0110
UPID
US18-6459287
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.05M
Blend (final)
Blend
$1.05M
Owner & transaction history
John Sheekley · 2 yrs held
John Sheekley
since 2024
Last sale
$37,200
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.5M
+98.5%
Retail stores
$1.4M
+79.1%
Neighborhood: shopping center
$1.1M
+46.2%
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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$770,000
Current use
RESTAURANT
$1,530,000
Change: +98% · Conversion: Difficult
RETAIL STORES
$1,380,000
Change: +79% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,125,000
Change: +46% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,110,000
Change: +44% · Conversion: Difficult
WAREHOUSE, STORAGE
$810,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$1.05M
Range $945k – $1.16M · ±10% · vs last sale $37k (Jun 21 2024)
Last sale anchor
$37k
Jun 21 2024
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
$146 / 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
$11,122
Tax year 2023
Assessed value
$584,020
Assessed 2023
Previous assessed
$572,221
+2.1% YoY
Effective rate
1.90%
On assessed value
Assessed land
$117,061
Assessed improvement
$466,959
Land market value
$117,061
Improvement market value
$466,959
Total market value
$584,020
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
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
1981
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Stories
1
Total area
7,194 SF
Lot
48.06 ac (2,093,493 SF)
APN
22-1S-22-0000-0001-0110
UPID
US18-6459287
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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$770,000
RESTAURANT
Est. value
$1.5M
RETAIL STORES
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$810,000
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
RESTAURANT
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1981
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Lot
48.06 ac
Current owner
From public records · entity-resolved
John Sheekley
Individual
Free & Clear · 2 yrs held
Mailing address
2000 BLUEWATER BLVD, NICEVILLE, FL 32578-3856
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
26 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 21, 2024
$19,100
John Sheekley
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 21, 2024
$37,200
David T Wolcott
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 21, 2024
$10,300
Kathleen Ann Donavin
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 20, 2024
$8,800
Nancy Hayden
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 20, 2024
$6,500
Sean Neitzke
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 20, 2024
$17,800
Jonnette Baker Lerandeau
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 20, 2024
$8,900
Kip Johnson
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 20, 2024
$15,000
Wayne Jacobs JR
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 20, 2024
$17,600
Edmund Kloess III
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 18, 2024
$22,600
Don Norse
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 18, 2024
$15,000
Bruce L Roy
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 18, 2024
$19,500
Scott Patrick Stevenson
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 17, 2024
$11,700
Tami J Shirey
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 17, 2024
$8,800
Ian Casey
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 17, 2024
$17,800
James D Vaughan III
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 17, 2024
$7,400
Peter Blaise
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 17, 2024
$12,800
Sabrena Joyce Stepp
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 6, 2024
$14,500
Barry Packard
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 6, 2024
$9,900
Jason Daniel
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 5, 2024
$19,700
Vincent Jones
Preserve Bluewater Bay INC
Special Warranty Deed
—
Jun 5, 2024
$8,800
David Newnom
Preserve Bluewater Bay INC
Special Warranty Deed
—
Apr 5, 2023
—
Nobert W Melnick
Bluewater Bay Resort LLC
Special Warranty Deed
—
Jun 29, 2022
$73,000
Janis Mcneal Musselman
Bluewater Bay Resort LLC
Warranty Deed
—
Oct 29, 2021
$1,400,000
Ap Niceville Development LLC
Bluewater Bay Resort LLC
Special Warranty Deed
—
Dec 11, 2020
$182,500
Musselman,janis M Living Trust
Bluewater Bay Resort LLC
Warranty Deed
—
Jun 17, 2019
$100
Fates Place 2000 LLC
Bluewater Bay Resort LLC
Quit Claim Deed
related
—
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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