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Property profile & analytics
OFF-MARKET
Estimated value
$15,650,000
Distribution centers
408 Brookmeade Dr, Crestview, FL 32539-7396
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-4156459
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2003
Construction
STEEL FRAME
Total area
60,714 SF
Lot
13.23 ac (576,283 SF)
Zoning code
C-1
APN
20-3N-23-0000-0144-0000
UPID
US18-4156459
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
Current use
Occupant on record · Public records
-
Public Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$15.65M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$15.65M
Owner & transaction history
Gmsp Crestview LLC · 1 yrs held
Gmsp Crestview LLC
since 2024
Last sale
$15.7M
7 recorded transactions
Zoning & alternative use
C-1 · Crestview, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$12.9M
+87.2%
Commercial (general)
$11.2M
+62.3%
Neighborhood: shopping center
$9.5M
+38.0%
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 Crestview submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Crestview 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
$15,650,000
ML approach
$15,650,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$12,895,000
Change: +87% · Conversion: Difficult
COMMERCIAL (GENERAL)
$11,180,000
Change: +62% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$9,500,000
Change: +38% · Conversion: Moderate
Blend value · Realmo final
$15.65M
Range $14.09M – $17.22M · ±10% · vs last sale $15.65M (Jul 11 2024)
Last sale anchor
$15.65M
Jul 11 2024
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
$258 / 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
$62,683
Tax year 2023
Assessed value
$5,002,306
Assessed 2023
Previous assessed
$5,002,306
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$1,611,193
Assessed improvement
$3,391,113
Land market value
$1,611,193
Improvement market value
$3,391,113
Total market value
$5,002,306
Applied tax rate
3.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2003
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Stories
1
Total area
60,714 SF
Lot
13.23 ac (576,283 SF)
Zoning code
C-1
APN
20-3N-23-0000-0144-0000
UPID
US18-4156459
Jurisdiction
OKALOOSA
Zoning & alternative use
C-1 · Crestview, FL
Zoning C-1 · permitted uses
C-1 · Crestview, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Crestview. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$12.9M
COMMERCIAL (GENERAL)
Est. value
$11.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.5M
RESTAURANT
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
2003
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Lot
13.23 ac
Current owner
From public records · entity-resolved
Gmsp Crestview LLC
Entity
Mailing address
61 E COLORADO BLVD NW UNIT #220, PASADENA, CA 91105-1920
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Jul 11, 2024
$15,650,000
Gmsp Crestview LLC
J2 Development LLC
Special Warranty Deed
$42,448,337 · Invesco Commercial Real Estate Fina
Feb 4, 2020
—
J2 Dev LLC
—
Deed
$3,795,000 · Smartbank
Apr 3, 2019
—
Hlw Angel LLC
—
Grant Deed
related
$2,000,000 · Keybank USA
Nov 29, 2011
$6,125,000
Hlw Angel LLC
Byron S Wong
Warranty Deed
$4,618,000 · Td Bank NA
Feb 11, 2003
$20,000
Ralph L Gottier
Pensacola Baseline Dev LLC
Grant Deed
—
Feb 11, 2003
$900,000
Pensacola Baseline Dev LLC
Waterfront Rescue Mission INC
Grant Deed
—
—
—
J2 Dev LLC
—
Deed Of Trust
$3,795,000 · Smartbank
—
—
Byron S Wong
—
Deed Of Trust
related
$5,500,000 · Stanford FCU
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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