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    Property profile & analytics

    298 Rasberry Rd Crestview, FL 32536-6427

    • Outlet malls
    • 139,185 SF
    • 14.95 lot acres
    OFF-MARKET
    Value Estimations
    $6,300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4546948
    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

    • Installation Services / General Contractor
    • Lowe's ProServices / Building Supply / Industrial Manufacturer
    • Minute Key / Locksmith / (Bike/Boat/Book/etc) Store
    • Lowe's Garden Center / Garden Center
    • Lowe's Home Improvement / Building Supply / Hardware & Home Improvement

    Property Details for 298 Rasberry Rd

    Year built
    2004
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    14.95 lot acres
    Property size
    139,185 SF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    29-3N-23-0000-0025-016A
    APU
    293N2300000025016A

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $7,378,000
      Market price range: $7.09M - $20.4M

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

    Location Insight

    • Map
    • Local Demand
    City
    Crestview
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.574
    Latitude
    30.7274
    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
    $76,741
    $2,138,931
    $2,604,683
    $4,743,614
    -
    $2,138,931
    $2,604,683
    $4,743,614

    Comparable in this City

    • Value Estimation
      $6,000,000
      59,961 SF

      2499 Ferdon Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 59,961 SF
      2499 Ferdon Blvd, Crestview, FL 32536-8463
      View Details
    • Value Estimation
      $780,000
      14,800 SF

      108 Main St

      WHOLESALE OUTLET, DISCOUNT STORE • 14,800 SF
      108 Main St, Crestview, FL 32536-3751
      View Details
    • Value Estimation
      $7,520,000
      175,820 SF

      3351 Ferdon Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 175,820 SF
      3351 Ferdon Blvd, Crestview, FL 32536-8484
      View Details
    • Value Estimation
      $2,495,000
      14,700 SF

      2821 Ferdon Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 14,700 SF
      2821 Ferdon Blvd, Crestview, FL 32536-8474
      View Details
    • Value Estimation
      $1,010,000
      8,355 SF

      2575 Ferdon Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 8,355 SF
      2575 Ferdon Blvd, Crestview, FL 32536-8468
      View Details
    • Value Estimation
      $970,000
      6,641 SF

      2045 Ferdon Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 6,641 SF
      2045 Ferdon Blvd, Crestview, FL 32536-8424
      View Details

    Similar Nearby for Sale

    • $1,394,000
      4,350 SF

      Crestview Investment Property For Sale

      Multi-tenant retail property with high traffic and development potential.
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    • $475,000
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      Commercial Investment Opportunity on Corner Lot

      Corner lot near Crestview High School and upcoming Wal-Mart.
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    • $475,000
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      Prime Crestview Commercial Property

      High-traffic corner lot, 2,146 SF building.
      1202 N Ferdon Blvd, Crestview, FL 32536
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    • $1,000,000
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      Commercial Land in Crestview

      1.13 acres of commercial land in a rapidly expanding market.
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      Iconic Building in Downtown Crestview

      Iconic building with exceptional visibility and endless business potential.
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      Crestview Restaurant - Prime Location

      Profitable restaurant, high traffic area, immediate occupancy.
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      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      2,100 SF

      Retail Space in Court Plaza

      Retail space for lease in Crestview, Florida shopping center.
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      View Details
    • Contact for pricing

      Retail Space on Ferdon Boulevard

      Sublease opportunity with high visibility in Crestview, Florida.
      2503 South Ferdon Blvd, Crestview, FL 32536
      View Details
    • $18 SF/Yr
      3,190 SF

      Crestview Retail Space For Lease

      High-traffic retail space in thriving Northview Plaza.
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      View Details
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      Crestview Retail Space Available

      High-traffic retail space, Tractor Supply anchored.
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      View Details
    • $23 SF/Yr
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      Crestview Retail Space: Prime Location

      High-traffic retail space in thriving Crestview, FL.
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      View Details
    • $23 SF/Yr
      1,200 SF

      Crestview Retail Space - Suite 3060

      High-traffic retail space, excellent location.
      2535 2499 S Ferdon Blvd, Crestview, FL 32536
      View Details

    Property Visit Statistics

    • Visits by month
      58.3k
    • Visitors by month
      34.4k
    • Avg Time on site
      26 min
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    Crestview, FL 32536-6427
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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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