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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2215 Hwy 87 Navarre, FL 32566

    • Warehouses
    • 6,913 SF
    • 2.13 lot acres
    OFF-MARKET
    Value Estimations
    $890,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4043948
    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.

    Current Use by Public Records

    • Warehouses

    Property Details for 2215 Hwy 87

    Year built
    1987
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.13 lot acres
    Property size
    6,913 SF
    Zone code
    HCD
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    17-2S-26-0000-00118-0000
    APU
    172S260000001180000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,030,000
      6.5%
      $950,000
      7%
      $880,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $888,000
      Market price range: $246k - $889k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $665,000
      Current use
      RESTAURANT
      $1,455,000
      Change: +118% Conversion: Difficult
      MEDICAL BUILDING
      $1,170,000
      Change: +76% Conversion: Difficult
      RETAIL STORES
      $1,060,000
      Change: +59% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $905,000
      Change: +36% Conversion: Difficult
      OFFICE BUILDING
      $730,000
      Change: +9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Navarre
    County
    Santa Rosa
    State
    Florida
    Longitude
    -86.8698
    Latitude
    30.4159
    CBSA code
    37860
    CBSA name
    PENSACOLA-FERRY PASS-BRENT, 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
    $20,355
    $313,200
    $1,207,932
    $1,521,132
    -
    $313,200
    $1,207,932
    $1,521,132

    Comparable in this City

    • Value Estimation
      $530,000
      6,900 SF

      2137 Hwy 87

      MINI-WAREHOUSE, STORAGE • 6,900 SF
      2137 Hwy 87, Navarre, FL 32566
      View Details
    • Value Estimation
      $540,000
      4,800 SF

      2143 Hwy 87

      MINI-WAREHOUSE, STORAGE • 4,800 SF
      2143 Hwy 87, Navarre, FL 32566
      View Details
    • Value Estimation
      $1,105,000
      97,214 SF

      9128 Navarre Pkwy

      MINI-WAREHOUSE, STORAGE • 97,214 SF
      9128 Navarre Pkwy, Navarre, FL 32566-2153
      View Details
    • Value Estimation by Request
      1,280 SF

      8420 Little John Jct

      MINI-WAREHOUSE, STORAGE • 1,280 SF
      8420 Little John Jct, Navarre, FL 32566-1066
      View Details
    • Value Estimation by Request
      4,221 SF

      1889 Serosa Dr

      MINI-WAREHOUSE, STORAGE • 4,221 SF
      1889 Serosa Dr, Navarre, FL 32566
      View Details
    • Value Estimation
      $5,190,000
      42,516 SF

      9546 Navarre Pkwy

      MINI-WAREHOUSE, STORAGE • 42,516 SF
      9546 Navarre Pkwy, Navarre, FL 32566-2906
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,000 SF

      Navarre Industrial Flex Space Available

      New 2025 Flex Units, Hwy 87, Navarre
      3120 Highway 87, Navarre, FL 32566
      View Details
    • $239,900
      0.86 Acres

      Navarre Commercial Land Investment Opportunity

      Prime 0.86-acre commercial lot in Navarre, FL.
      3090 Highway 87, Navarre, FL 32566
      View Details
    • $225,000
      0.86 Acres

      Navarre Commercial Land For Sale

      Commercial land with frontage on Hwy 87 in Navarre, FL.
      3090 Highway 87 S, Navarre, FL 32566
      View Details
    • $85,000

      Residential Lot Near Waterfront Access

      0.28 acre lot with shared waterfront access.
      4 Live Oak St, Navarre, FL 32566
      View Details
    • $65,000

      Residential Land in Holley By Sea

      Residential land for sale in a popular Navarre neighborhood.
      0000 Longview St, Navarre, FL 32566
      View Details
    • $749,000

      Residential Lot with Water View

      Vacant lot with deeded beach access ready for building.
      23 Seaside Cir, Navarre, FL 32566
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      2,500 SF

      Navarre Flex Space: Hwy 87

      Prime Navarre flex space, 2500 sq ft.
      3120 FL-87, Navarre, FL 32566
      View Details
    • $22 SF/Yr

      New Flex Space in Navarre

      New flex space available for rent in May 2025.
      3120 Highway 87, Navarre, FL 32566
      View Details
    • $2,500 /Mo
      2,400 SF

      Navarre Office Space: 2400 SF Lease

      Prime Navarre office, 2400 sq ft, ideal for salon.
      1911 FL-87, Navarre, FL 32566
      View Details
    • $17 SF/Yr
      1,162 SF

      Retail Space at Ortega Park

      Corner retail space with high visibility in established plaza.
      8740 Ortega Park Dr, Navarre, FL 32566
      View Details
    • $155,000
      109,676 SF

      Navarre Commercial Land - Prime Location

      High-visibility corner lot, ideal for development.
      8504 E Bay Blvd, Navarre, FL 32566
      View Details
    • $2,475 /Mo
      32,234 SF

      Navarre Office Space For Rent

      Approximately 1,500 sq ft office space available for rent.
      1756 Sea Lark Ln, Navarre, FL 32566
      View Details
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    2215 Hwy 87
    Navarre, FL 32566
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    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
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