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Property profile & analytics
OFF-MARKET
Estimated value
$735,000
Warehouses
321 Hwy 85th N, Niceville, FL 32578-1007
Individually Owned
16-yr Hold
~
Est. High Equity
Property ID
US19-0006436
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1990
Construction
STEEL FRAME
Total area
5,548 SF
Lot
0.96 ac (42,000 SF)
APN
06-1S-22-0000-0004-0000
UPID
US19-0006436
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
by Request
CAP Approach
CAP
$580k
Comparable Approach
Comparable
$885k
Blend (final)
Blend
$735k
Owner & transaction history
Refrigeration Niceville · 16 yrs held
Refrigeration Niceville
since 2010
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+89.1%
Retail stores
$1.1M
+70.6%
Neighborhood: shopping center
$870,000
+39.3%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$630,000
6.5%
$580,000
7%
$540,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$625,000
Current use
RESTAURANT
$1,180,000
Change: +89% · Conversion: Difficult
RETAIL STORES
$1,065,000
Change: +71% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$870,000
Change: +39% · Conversion: Moderate
AUTO REPAIR, GARAGE
$855,000
Change: +37% · Conversion: Easy
INDUSTRIAL (GENERAL)
$575,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$735k
Range $662k – $809k · ±10%
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
$132 / 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
$10,807
Tax year 2023
Assessed value
$810,639
Assessed 2023
Previous assessed
$789,160
+2.7% YoY
Effective rate
1.33%
On assessed value
Assessed land
$349,550
Assessed improvement
$461,089
Land market value
$349,550
Improvement market value
$461,089
Total market value
$810,639
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
1990
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
NONE
Buildings
2
Stories
2
Rooms
16
Total area
5,548 SF
Lot
0.96 ac (42,000 SF)
APN
06-1S-22-0000-0004-0000
UPID
US19-0006436
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
$625,000
RESTAURANT
Est. value
$1.2M
RETAIL STORES
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$870,000
AUTO REPAIR, GARAGE
Est. value
$855,000
INDUSTRIAL (GENERAL)
Est. value
$575,000
WAREHOUSE, STORAGE Current
RESTAURANT
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
1990
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Rooms
16
Lot
0.96 ac
Current owner
From public records · entity-resolved
Refrigeration Niceville
Individual
Mailing address
321 HWY 85TH N, NICEVILLE, FL 32578-1007
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 26, 2010
$525,000
Refrigeration Niceville
Darn 3 LLC
Grant Deed
$262,500 · Regions Bank
May 11, 2010
—
Darn3 LLC
Coyote Land Co INC Coc
Trustees Deed
related
—
Oct 19, 2006
$795,000
Coyote Land Co INC
Powell Family Trust
Warranty Deed
$540,000 · Vanguard Bank & Trust Co
Jan 4, 2006
$60,000
Powell Family Trust
Powell,charles D SR & Peggy
Quit Claim Deed
related
—
—
—
Refrigeration Niceville
—
Deed Of Trust
related
$325,000 · Regions Bank
—
—
Refrigeration Niceville
—
Deed Of Trust
related
$396,853 · Regions Bank
—
—
Refrigeration Niceville
—
Deed Of Trust
related
$396,853 · Regions Bank
—
—
Refrigeration Niceville
—
Deed Of Trust
related
$325,000 · Regions Bank
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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