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Property profile & analytics
OFF-MARKET
Estimated value
$6,300,000
Outlet malls
2535 Ferdon Blvd Crestview, FL 32536-8466
Individually Owned
12-yr Hold
~
Est. High Equity
Property ID
US19-0496972
Property summary
AI-generated overview
This exceptional 1,200 square foot creative office space is available for lease within the Crestview Corners Shopping Center, a Class B property located at 2535 S Ferdon Blvd, Crestview, FL 32536. The single-tenant space is part of a larger 15,500 square foot retail and office complex comprised of three single-story buildings, renovated in 2021. The property boasts a total of six suites, with this particular unit offering a minimum of 1,200 and a maximum contiguous space of 1,200 square feet. The shopping center enjoys a high-traffic location on Hwy 85, just north of I-10, benefiting from combined daily traffic counts exceeding 46,000 vehicles. Strong anchor tenants, including Ashley Furniture HomeStore, Beall's Outlet, and Big Lots, provide significant foot traffic and visibility. Property taxes are $1.12 per square foot. This is an excellent opportunity for a business seeking a well-located, renovated space in a thriving retail environment. The property is situated in Crestview, Florida, offering convenient access to major roadways and amenities.
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1986
Construction
STEEL FRAME
Total area
34,328 SF
Lot
6.24 ac (271,814 SF)
APN
29-3N-23-0000-0003-0000
UPID
US19-0496972
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
-
Advance America Loan Service
-
Western Union Bank Credit Union
-
MoneyGram Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.59M
Comparable Approach
Comparable
$6.28M
Blend (final)
Blend
$6.30M
Owner & transaction history
Lb-ubs 2007-2c6-crestview Corn · 12 yrs held
Lb-ubs 2007-2c6-crestview Corn
since 2014
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.3M
+68.2%
Commercial (general)
$6.1M
+39.9%
Neighborhood: shopping center
$5.4M
+23.9%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$8,225,000
6.5%
$7,590,000
7%
$7,050,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,335,000
Current use
RESTAURANT
$7,290,000
Change: +68% · Conversion: Easy
COMMERCIAL (GENERAL)
$6,065,000
Change: +40% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$5,375,000
Change: +24% · Conversion: Moderate
AUTO REPAIR, GARAGE
$5,295,000
Change: +22% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,895,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$6.30M
Range $5.67M – $6.93M · ±10%
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
$184 / 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
$65,499
Tax year 2023
Assessed value
$4,048,680
Assessed 2023
Previous assessed
$3,857,952
+4.9% YoY
Effective rate
1.62%
On assessed value
Assessed land
$1,487,952
Assessed improvement
$2,560,728
Land market value
$1,487,952
Improvement market value
$2,560,728
Total market value
$4,048,680
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1986
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
OTHER
Buildings
6
Stories
1
Rooms
5
Total area
34,328 SF
Lot
6.24 ac (271,814 SF)
APN
29-3N-23-0000-0003-0000
UPID
US19-0496972
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
RETAIL STORES Current
Est. value
$4.3M
RESTAURANT
Est. value
$7.3M
COMMERCIAL (GENERAL)
Est. value
$6.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.4M
AUTO REPAIR, GARAGE
Est. value
$5.3M
WAREHOUSE, STORAGE
Est. value
$3.9M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
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
1986
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
6
Rooms
5
Lot
6.24 ac
Current owner
From public records · entity-resolved
Lb-ubs 2007-2c6-crestview Corn
Individual
Mailing address
PO BOX 16167, MOBILE, AL 36616-0167
Ownership since
2014
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
Jul 3, 2014
$8,000,000
Lb-ubs 2007-2c6-crestview Corn
Crestview Corners Station INC
Grant Deed
—
Jan 27, 2006
$7,200,000
Crestview Corners Station INC
Ramco-gershenson Props
Grant Deed
—
Nov 5, 1997
$3,960,000
Ramco-gershenson Properties
Drm Fourteen Realty Corp
Grant Deed
—
—
—
Crestview Corners Station INC
—
Deed Of Trust
related
$6,380,000 · Lehman Capital Corp
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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