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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    371 Hickory Ave Crestview, FL 32536-3305

    • Commercial real estate
    • 15,967 SF
    • 7.27 lot acres
    OFF-MARKET
    Value Estimations
    $3,690,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4112841
    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

    • Crestview Housing Authority / Housing Authority

    Property Details for 371 Hickory Ave

    Year built
    1982
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    7.27 lot acres
    Property size
    15,967 SF
    Property type
    Commercial real estate
    APN
    18-3N-23-0000-0033-0000
    APU
    183N23000000330000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,235,000
      6.5%
      $2,985,000
      7%
      $2,770,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,236,000
      Market price range: $1.74M - $4.24M
      AI Estimate
      $3,841,000
      Market price range: $1.35M - $3.84M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,820,000
      Current use
      RESTAURANT
      $3,390,000
      Change: +20% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,500,000
      Change: -11% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,460,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Crestview
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.5776
    Latitude
    30.7605
    CBSA code
    18880
    CBSA name
    CRESTVIEW-FORT WALTON BEACH-DESTIN, 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
    $0.00
    $172,419
    $2,189,784
    $2,362,203
    -
    $172,419
    $2,189,784
    $2,362,203

    Comparable in this City

    • Value Estimation by Request

      200 Highway 90

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    • Value Estimation by Request
      2,054 SF

      317 Main St

      COMMERCIAL (GENERAL) • 2,054 SF
      317 Main St, Crestview, FL 32536-3541
      View Details
    • Value Estimation
      $2,060,000
      18,299 SF

      5479 Old Bethel Rd

      COMMERCIAL (GENERAL) • 18,299 SF
      5479 Old Bethel Rd, Crestview, FL 32536-5512
      View Details
    • Value Estimation by Request
      2,481 SF

      121 Wilson St

      COMMERCIAL (GENERAL) • 2,481 SF
      121 Wilson St, Crestview, FL 32536-3435
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    • Value Estimation by Request
      1.97 Acres

      320-370 Redstone Ave

      Commercial real estate • 1.97 Acres
      320-370 Redstone Ave, Crestview, FL 32536
      View Details
    • Value Estimation by Request
      37.30 Acres

      Oak Hill Rd

      Land • 37.30 Acres
      0 Oak Hill Rd, Crestview, FL 32536
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12.10 Acres

      Crestview Commercial Land Investment

      12 Acres, Hwy 85 & Airport Rd
      85 And Airport Rd, Crestview, FL 32536
      View Details
    • $1,495,000

      Crestview Commercial Land - $1.495M

      Prime 4.26-acre commercial lot, ideal location.
      0 Mirage Ave, Crestview, FL 32536
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    • $295,500
      6.24 Acres

      6.24 Acres Hwy 85 N Commercial Land

      Prime Crestview Commercial Land, 6.24 Acres
      6388 Highway 85, Crestview, FL 32536
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    • $749,900
      0.39 Acres

      Crestview Commercial Building - High Potential

      Prime location, versatile space, near future Walmart.
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    • $1,850,000
      30.00 Acres

      Crestview Commercial Land - High Potential

      30-Acre Commercial Tract, Prime Location
      4869 Retta Ln, Crestview, FL 32536
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    • $275,000
      0.33 Acres

      Crestview Commercial Space - High Potential

      Versatile 1900 sq ft, six rooms, prime location.
      226 Coleman St, Crestview, FL 32536
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    Similar Nearby for Lease

    • $34 SF/Yr
      1,250 SF

      Crestview Retail Pad Site Lease

      1,250 SF Curb-In Pad, Drive-Thru Ready
      352 W James Lee Blvd, Crestview, FL 32536
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    • $15 SF/Yr
      4,590 SF

      Downtown Crestview Office Space For Lease

      Prime 4,590 SF office/medical space available.
      250 W Pine Ave, Crestview, FL 32536
      View Details
    • $1,500 /Mo
      4,540 SF

      Crestview Office Space For Rent

      Office space with 5 offices, waiting room, and kitchenette.
      638 N Ferdon Blvd, Crestview, FL 32536
      View Details
    • Contact for pricing

      Retail Space on Ferdon Boulevard

      Sublease opportunity with high visibility in Crestview, Florida.
      2503 South Ferdon Blvd, Crestview, FL 32536
      View Details
    • $2,001 /Mo

      Retail/Office Space on Hwy 90

      New commercial space for lease near I-10 connection.
      200 6Th Ave, Crestview, FL 32536
      View Details
    • $16,800 /Mo
      15,110 SF

      Retail and Restaurant Spaces Available

      Pre-leasing retail and restaurant spaces in Crestview, Florida.
      352 W Hwy 90 Blvd, Crestview, FL 32536
      View Details
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    371 Hickory Ave
    Crestview, FL 32536-3305
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    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
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