Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3650 Berryhill Rd Pace, FL 32571

    • Office buildings
    • 3,072 SF
    • 2.21 lot acres
    For Lease
    View listing
    $4,375 /Mo
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5121277
    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

    • Office buildings

    Property Details for 3650 Berryhill Rd

    Year built
    2008
    Construction
    WOOD
    Lot size
    2.21 lot acres
    Property size
    3,072 SF
    Zone code
    HCD
    Property type
    Office buildings
    APN
    32-2N-29-0000-00197-0000
    APU
    322N290000001970000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $645,000
      6.5%
      $595,000
      7%
      $555,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $632,000
      Market price range: $223k - $632k
      AI Estimate
      $591,000
      Market price range: $200k - $591k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $390,000
      Current use
      MEDICAL BUILDING
      $520,000
      Change: +34% Conversion: Easy
      WAREHOUSE, STORAGE
      $490,000
      Change: +27% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $410,000
      Change: +6% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Pace
    County
    Santa Rosa
    State
    Florida
    Longitude
    -87.1703
    Latitude
    30.6464
    CBSA code
    37860
    CBSA name
    PENSACOLA-FERRY PASS-BRENT, 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
    $11,300
    $264,894
    $755,331
    $1,020,225
    -
    $264,894
    $755,331
    $1,020,225

    Comparable in this City

    • Value Estimation by Request
      4,405 SF

      4944 Hwy 90

      PROFESSIONAL BUILDING • 4,405 SF
      4944 Hwy 90, Pace, FL 32571-1413
      View Details
    • Value Estimation by Request
      912 SF

      4450 Woodbine Rd

      OFFICE BUILDING • 912 SF
      4450 Woodbine Rd, Pace, FL 32571-8725
      View Details
    • Value Estimation
      $910,000
      16,901 SF

      4401 Woodbine Rd

      OFFICE BUILDING • 16,901 SF
      4401 Woodbine Rd, Pace, FL 32571-8758
      View Details
    • Value Estimation by Request
      1,333 SF

      4537 Chumuckla Hwy

      OFFICE BUILDING • 1,333 SF
      4537 Chumuckla Hwy, Pace, FL 32571-1001
      View Details
    • Value Estimation by Request
      1,695 SF

      3655 Hwy 90

      OFFICE BUILDING • 1,695 SF
      3655 Hwy 90, Pace, FL 32571-1054
      View Details
    • Value Estimation
      $605,000
      3,560 SF

      3763 Hwy 90

      OFFICE BUILDING • 3,560 SF
      3763 Hwy 90, Pace, FL 32571-1076
      View Details

    Similar Nearby for Sale

    • $1,850,000
      8,720 SF

      Prime Milton Commercial Property

      Two buildings, 1.9 acres, high visibility
      5595 Chumuckla Hwy, Milton, FL 32571
      View Details
    • $1,250,000
      1,560 SF

      Prime Milton Office Building & Land

      Two-story office, 1.91 acres, high-traffic location.
      5055 US-90, Milton, FL 32571
      View Details
    • $399,995
      1,672 SF

      Commercial Property Ready For Adaptation

      Former residence rezoned commercial, ready for adaptation and various uses.
      4663 Chumuckla Hwy, Pace, FL 32571
      View Details
    • $1,200,000
      2.83 Acres

      Pace Office & Land Investment Opportunity

      2.83-acre commercial lot with three buildings
      4740 Woodbine Rd, Pace, FL 32571
      View Details
    • $849,000
      5,845 SF

      Pace Retail Pad Site - Highway 90

      Prime .77-acre pad site; build up to 5,400 SF.
      4612 - 4614 Highway 90, Pace, FL 32571
      View Details
    • $230,000
      0.49 Acres

      Prime Milton Residential Land

      0.49 Acres, Hwy 90 Frontage
      3601 Empire St, Milton, FL 32571
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      4,000 SF

      Pace, FL Office Space Available

      Prime Pace location, 4,000 SF office space, NNN lease.
      5433 Chumuckla Hwy, Pace, FL 32571
      View Details
    • $4,375 /Mo
      2,500 SF

      Pace Office Building - Brand New Construction

      Modern, elegant 2,500 SF office space for lease.
      3650 Berryhill Rd, Pace, FL 32571
      View Details
    • $1,050 /Mo
      787 SF

      Prime Milton Office Suite A - Highway 90

      Highly visible office space; 787 sq ft, great location.
      4000 Highway 90, Milton, FL 32571
      View Details
    • $16 SF/Yr
      1,063 SF

      Prime Milton Office Suite Sublease

      1,063 SF Office, 1-2 Year Lease, NNN
      4628 Summerdale Dr, Milton, FL 32571
      View Details
    • $1,995 /Mo
      1,224 SF

      Prime Pace Office Space Available

      Move-in ready professional office suite in desirable Pace location.
      4509 - 4507 Woodbine Rd, Milton, FL 32571
      View Details
    • $500 /Mo
      144 SF

      Prime Milton Office Suite

      Executive office space for lease in thriving Milton, FL.
      5565 Woodbine Rd, , FL, Milton, FL 32571
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3650 Berryhill Rd
    Pace, FL 32571
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.