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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Warehouses
305 Government Ave, Niceville, FL 32578-1808
Individually Owned
Free & Clear
Property ID
US18-3893481
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2000
Construction
STEEL FRAME
Total area
4,600 SF
Lot
0.3 ac (13,020 SF)
APN
12-1S-23-1230-0006-0130
UPID
US18-3893481
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
-
Xcell Electric, Inc. Electrical Service General Contractor
-
Oh So Pretty Custom Fabric’s Textile Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$580k
CAP Approach
CAP
$480k
Comparable Approach
Comparable
$519k
Blend (final)
Blend
$570k
Owner & transaction history
Wade Mcdowell
Wade Mcdowell
since 2025
Last sale
$600,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$880,000
+70.6%
Neighborhood: shopping center
$720,000
+39.3%
Auto repair, garage
$710,000
+37.2%
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 Niceville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Niceville 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
$650,000
ML approach
$580,000
CAP Approach
CAP Return
Estimation
6%
$520,000
6.5%
$480,000
7%
$445,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$515,000
Current use
RETAIL STORES
$880,000
Change: +71% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$720,000
Change: +39% · Conversion: Moderate
AUTO REPAIR, GARAGE
$710,000
Change: +37% · Conversion: Easy
Blend value · Realmo final
$570k
Range $513k – $627k · ±10% · vs last sale $600k (Apr 14 2022)
Last sale anchor
$600k
Apr 14 2022
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
$124 / 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
$6,331
Tax year 2023
Assessed value
$474,902
Assessed 2023
Previous assessed
$362,112
+31.1% YoY
Effective rate
1.33%
On assessed value
Assessed land
$136,710
Assessed improvement
$338,192
Land market value
$136,710
Improvement market value
$338,192
Total market value
$474,902
Applied tax rate
6.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2000
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Stories
1
Rooms
4
Total area
4,600 SF
Lot
0.3 ac (13,020 SF)
APN
12-1S-23-1230-0006-0130
UPID
US18-3893481
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
WAREHOUSE, STORAGE Current
Est. value
$515,000
RETAIL STORES
Est. value
$880,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$720,000
AUTO REPAIR, GARAGE
Est. value
$710,000
WAREHOUSE, STORAGE Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
2000
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Rooms
4
Lot
0.3 ac
Current owner
From public records · entity-resolved
Wade Mcdowell
Individual
Free & Clear · 0 yrs held
Mailing address
305 GOVERNMENT AVE, NICEVILLE, FL 32578-1808
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 28, 2025
$690,000
Wade Mcdowell
Oh So Pretty Custom Fabrics LLC
Warranty Deed
—
Apr 14, 2022
$600,000
Oh So Pretty Custom Fabrics LLC
Jackie C Mott
Warranty Deed
$480,000 · Progress Bank & Trust
Nov 23, 2020
$370,000
Jackie C Mott
Emily H Brown
Warranty Deed
$277,500 · Trustmark National Bank
Sep 22, 2004
$225,000
Emily H Brown
Koch,william R
Warranty Deed
—
Jun 3, 1998
$3,900
James E Hallford
Koch,william R & Pamela P
Grant Deed
—
Jun 1, 1998
$31,000
William R Koch
Griffin,lois
Grant Deed
—
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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