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

    3045 Ferdon Blvd Crestview, FL 32536

    • Retail space
    • 3,548 SF
    • 0.46 lot acres
    For Lease
    View listing
    $30 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-1665408
    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

    • Mr. Mattress Bedding Outlet / Mattress Store / Bedding Store

    Property Details for 3045 Ferdon Blvd

    Year built
    2017
    Construction
    STEEL FRAME
    Lot size
    0.46 lot acres
    Property size
    3,548 SF
    Property type
    Retail space
    APN
    29-3N-23-1480-0079-0000
    APU
    293N23148000790000

    Description

    This ±3,548 square foot freestanding retail building is available for lease in Crestview, Florida. Located at 3045 S Ferdon Blvd, at the intersection of S Ferdon Blvd and Brookemead Dr, this single-tenant property sits on a ±0.45-acre lot (APN: 29-3N-23-1480-0079-0000) and is zoned C-2. Built in 2017, the one-story Class B building offers excellent visibility and accessibility. The property benefits from its location near major retailers such as Aldi, Chipotle, Walmart, Publix, and Lowe's, ensuring high foot traffic and brand recognition. S Ferdon Blvd (Hwy 85) experiences a high average annual daily traffic count of 44,000 vehicles. This prime location presents a significant opportunity for businesses seeking high visibility and convenient access in a thriving retail corridor within Okaloosa County. The property features no elevators.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $850,000
      6.5%
      $785,000
      7%
      $730,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $648,000
      Market price range: $245k - $649k
      AI Estimate
      $519,000
      Market price range: $181k - $520k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $450,000
      Current use
      COMMERCIAL (GENERAL)
      $625,000
      Change: +40% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $555,000
      Change: +24% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $545,000
      Change: +22% Conversion: Difficult
      WAREHOUSE, STORAGE
      $405,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Crestview
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.5667
    Latitude
    30.7306
    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
    $7,645
    $215,211
    $257,357
    $472,568
    -
    $215,211
    $257,357
    $472,568

    Comparable in this City

    • Value Estimation by Request
      891 SF

      567 Main St

      RETAIL STORES (PERSONAL SERVICES) • 891 SF
      567 Main St, Crestview, FL 32536-4249
      View Details
    • Value Estimation by Request
      1,978 SF

      5395 Old Bethel Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,978 SF
      5395 Old Bethel Rd, Crestview, FL 32536-5160
      View Details
    • Value Estimation
      $990,000
      5,400 SF

      2493 Ferdon Blvd

      RETAIL STORES (PERSONAL SERVICES) • 5,400 SF
      2493 Ferdon Blvd, Crestview, FL 32536-8463
      View Details
    • Value Estimation by Request
      1,568 SF

      958 James Lee Blvd, Unit A

      RETAIL STORES (PERSONAL SERVICES) • 1,568 SF
      958 James Lee Blvd, Crestview, FL 32536-5137
      View Details
    • Value Estimation
      $1,545,000
      6,600 SF

      1505 Ferdon Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,600 SF
      1505 Ferdon Blvd, Crestview, FL 32536-8445
      View Details
    • Value Estimation by Request
      2,125 SF

      114 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,125 SF
      114 Main St, Crestview, FL 32536-3546
      View Details

    Similar Nearby for Sale

    • $350,000

      Retail Building with Two Units

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      Versatile Commercial Space Available

      Spacious commercial area suitable for offices, retail, and more.
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    • $1,000,000
      2,067 SF

      Commercial Land in Crestview

      1.13 acres of commercial land in a rapidly expanding market.
      582 S Ferdon Blvd, Crestview, FL 32536
      View Details
    • $1,394,000
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      Crestview Investment Property For Sale

      Multi-tenant retail property with high traffic and development potential.
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      View Details

    Similar Nearby for Lease

    • $210 SF/Yr

      Retail, Office, Warehouse Space

      Versatile space for lease, trade new roof for rent.
      404 W James Lee Blvd, Crestview, FL 32536
      View Details
    • $2,900 /Mo

      Retail Space in Classic Center

      Retail space in Crestview's Classic Center with high visibility.
      4381 S Ferdon Blvd, Crestview, FL 32536
      View Details
    • $20 SF/Yr
      3,600 SF

      Prime Corner Suite in Crestview

      Highly visible corner suite ideal for medical, office, or retail.
      535 S Ferdon Blvd, Crestview, FL 32536
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    • $6,200 /Mo

      Retail Space in High Traffic

      Spacious retail property in Crestview, Florida, with high potential.
      410 W James Lee Blvd, Crestview, FL 32536
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    • $2,784 /Mo

      Retail/Office Space on Hwy 90

      New commercial space near I-10, build-out options available.
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    • $2,784 /Mo

      Retail/Office Space on Hwy 90

      New retail or office space near I-10 connection.
      200 5Th Ave, Crestview, FL 32536
      View Details
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    3045 Ferdon Blvd
    Crestview, FL 32536
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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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