New search
Property profile & analytics
OFF-MARKET
Estimated value
$9,405,000
Warehouses
323 Hwy 85th N, Niceville, FL 32578-1007
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-8206147
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2017
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
27,887 SF
Lot
2.05 ac (89,219 SF)
APN
06-1S-22-0000-0023-00E1
UPID
US18-8206147
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
$9.54M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.41M
Owner & transaction history
Prime Storage Niceville LLC · 4 yrs held
Prime Storage Niceville LLC
since 2022
Last sale
$9.1M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$14.9M
+374.6%
Commercial (general)
$9.6M
+206.5%
Restaurant
$5.9M
+89.1%
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
$9,890,000
ML approach
$9,540,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$14,870,000
Change: +375% · Conversion: Difficult
COMMERCIAL (GENERAL)
$9,605,000
Change: +206% · Conversion: Difficult
RESTAURANT
$5,925,000
Change: +89% · Conversion: Difficult
Blend value · Realmo final
$9.41M
Range $8.46M – $10.35M · ±10% · vs last sale $9.10M (Jan 28 2022)
Last sale anchor
$9.10M
Jan 28 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
$337 / 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
$102,253
Tax year 2023
Assessed value
$7,670,205
Assessed 2023
Previous assessed
$7,111,855
+7.9% YoY
Effective rate
1.33%
On assessed value
Assessed land
$736,466
Assessed improvement
$6,933,739
Land market value
$736,466
Improvement market value
$6,933,739
Total market value
$7,670,205
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2017
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
OTHER
Buildings
2
Stories
3
Total area
27,887 SF
Lot
2.05 ac (89,219 SF)
APN
06-1S-22-0000-0023-00E1
UPID
US18-8206147
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
OFFICE BUILDING
Est. value
$14.9M
COMMERCIAL (GENERAL)
Est. value
$9.6M
RESTAURANT
Est. value
$5.9M
OFFICE BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
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
2017
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
2
Lot
2.05 ac
Current owner
From public records · entity-resolved
Prime Storage Niceville LLC
Entity
Free & Clear · 4 yrs held
Mailing address
83 RAILROAD PL #85, SARATOGA SPRINGS, NY 12866-2124
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Jan 28, 2022
$9,100,000
Prime Storage Niceville LLC
Spacebox Niceville LLC
Special Warranty Deed
—
Jul 6, 2020
—
Spacebox Niceville LLC
—
Deed
related
$7,000,000 · Lmf Commercial LLC
—
—
Spacebox Niceville LLC
—
Loan Modification
related
$7,000,000 · Lmf Commercial LLC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 323 Hwy 85th N?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
