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    Property profile & analytics

    297 Reed Ave Crestview, FL 32539-4263

    • Warehouses
    • 4,900 SF
    • 0.26 lot acres
    OFF-MARKET
    Last Sale
    Jun 29, 2022
    $325,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4100542
    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 297 Reed Ave

    Year built
    2004
    Construction
    STEEL FRAME
    Lot size
    0.26 lot acres
    Property size
    4,900 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    17-3N-23-2490-0149-0060
    APU
    173N23249001490060

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Crestview
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.5615
    Latitude
    30.7523
    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
    $2,767
    $13,164
    $157,889
    $171,053
    -
    $13,164
    $157,889
    $171,053

    Comparable in this City

    • Value Estimation
      $1,515,000
      3,000 SF

      3191 James Lee Blvd

      MINI-WAREHOUSE, STORAGE • 3,000 SF
      3191 James Lee Blvd, Crestview, FL 32539-6035
      View Details
    • Value Estimation
      $655,000
      9,800 SF

      190 John King Rd

      MINI-WAREHOUSE, STORAGE • 9,800 SF
      190 John King Rd, Crestview, FL 32539-8331
      View Details
    • Value Estimation
      $1,075,000
      7,973 SF

      901 Industrial Dr

      MINI-WAREHOUSE, STORAGE • 7,973 SF
      901 Industrial Dr, Crestview, FL 32539-8963
      View Details
    • Value Estimation by Request
      3,650 SF

      Reed Ave

      MINI-WAREHOUSE, STORAGE • 3,650 SF
      Reed Ave, Crestview, FL 32539
      View Details
    • Value Estimation
      $1,165,000
      26,400 SF

      101 Hospital Dr

      MINI-WAREHOUSE, STORAGE • 26,400 SF
      101 Hospital Dr, Crestview, FL 32539-7303
      View Details
    • Value Estimation
      $1,545,000
      9,100 SF

      135 Aplin Rd

      MINI-WAREHOUSE, STORAGE • 9,100 SF
      135 Aplin Rd, Crestview, FL 32539-4901
      View Details

    Similar Nearby for Sale

    • $450,000

      Crestview Land with Warehouse

      4.47 acres with warehouse, utilities, and RV hookups.
      4156 Painter Branch Rd, Crestview, FL 32539
      View Details
    • $699,999
      7,700 SF

      Crestview Warehouse with Expansion Potential

      7700 SF warehouse on 2.31 acres near airport.
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    • $399,000
      6,564 SF

      Crestview Industrial Property

      1,500 SF building, 1.5-acre lot, high-intensity commercial zoning potential.
      2785 Goodwin Ave, Crestview, FL 32539
      View Details
    • Contact for pricing
      8,040 SF

      Crestview Commercial Space - 8040 sq ft

      High-traffic location, versatile commercial space.
      128 John King Rd, Crestview, FL 32539
      View Details
    • $599,000

      Land For Sale Crestview

      Land available for sale in Crestview, Florida.
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    • $599,000

      Commercial Lot in Growing Area

      2.78-acre commercial lot in a high-traffic location.
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    Similar Nearby for Lease

    • $25,000
      8,934 SF

      Crestview Office Space Available

      Large Office Space for Lease in Crestview, FL
      214 Covell Rd, Crestview, FL 32539
      View Details
    • $1,500 /Mo
      1,356 SF

      Crestview Home with Yard Space

      Three-bedroom Crestview home featuring new flooring, appliances, and yard.
      195 Swaying Pine Ct, Crestview, FL 32539
      View Details
    • $0.08 SF/Yr
      3,000 SF

      710 Hospital Drive Office Space

      Prime Single-Tenant Office Building, 3,000 sq ft.
      710 Hospital Dr, Crestview, FL 32539
      View Details
    • $3,100 /Mo

      Well-Maintained Office Space Available

      Office space featuring private offices, conference room, and storage.
      3108 Adora Teal Way Bldg. A, Crestview, FL 32539
      View Details
    • $2,500 /Mo
      1,500 SF

      Crestview Office Space - 1500 SF

      Modern Office Suite, Prime Location
      100 Premier Dr, Crestview, FL 32539
      View Details
    • $19 SF/Yr
      1,600 SF

      Crestview Retail Space For Lease

      High-traffic location, 1600 sq ft freestanding building.
      3301 S Ferdon Blvd, Crestview, FL 32539
      View Details
    Request Owner's contact information
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    297 Reed Ave
    Crestview, FL 32539-4263
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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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