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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Retail space
306 Government Ave Niceville, FL 32578-1809
Individually Owned
3-yr Hold
Free & Clear
Property ID
US18-8291426
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,612 SF
Lot
0.58 ac (25,300 SF)
APN
12-1S-23-0000-0056-0010
UPID
US18-8291426
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$545k
CAP Approach
CAP
$580k
Comparable Approach
Comparable
$643k
Blend (final)
Blend
$545k
Owner & transaction history
Richard E Pruitt · 3 yrs held
Richard E Pruitt
since 2023
Last sale
$430,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$900,000
+79.6%
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
$655,000
ML approach
$545,000
CAP Approach
CAP Return
Estimation
6%
$625,000
6.5%
$580,000
7%
$535,000
Alternative Use
Use
Estimation
RETAIL STORES
$500,000
Current use
COMMERCIAL (GENERAL)
$900,000
Change: +80% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$410,000
Change: -18% · Conversion: Moderate
AUTO REPAIR, GARAGE
$405,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$545k
Range $491k – $600k · ±10% · vs last sale $430k (Jun 19 2023)
Last sale anchor
$430k
Jun 19 2023
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
$209 / 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
$3,369
Tax year 2023
Assessed value
$288,721
Assessed 2023
Previous assessed
$221,379
+30.4% YoY
Effective rate
1.17%
On assessed value
Assessed land
$162,288
Assessed improvement
$126,433
Land market value
$162,288
Improvement market value
$126,433
Total market value
$288,721
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Rooms
12
Bathrooms
2
Total area
2,612 SF
Lot
0.58 ac (25,300 SF)
APN
12-1S-23-0000-0056-0010
UPID
US18-8291426
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
$500,000
COMMERCIAL (GENERAL)
Est. value
$900,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$410,000
AUTO REPAIR, GARAGE
Est. value
$405,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Rooms
12
Bathrooms
2
Lot
0.58 ac
Current owner
From public records · entity-resolved
Richard E Pruitt
Individual
Free & Clear · 3 yrs held
Mailing address
306 GOVERNMENT AVE, NICEVILLE, FL 32578-1809
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 28, 2025
—
Richard Pruitt
—
Deed
related
$600,000 · Origin Bank
Jun 18, 2025
—
Ds2 Holdings LLC
—
Deed
related
$600,000 · Origin Bank
Jun 19, 2023
$430,000
Richard E Pruitt
Renee M Hill
Warranty 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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