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Property profile & analytics
OFF-MARKET
Estimated value
$13,155,000
Assisted living facilities
500 Hospital Dr Crestview, FL 32539-7355
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-0945727
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
53,892 SF
Lot
6.97 ac (303,613 SF)
APN
29-3N-23-0000-0001-0010
UPID
US18-0945727
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
-
Aspire at Shoal Creek Nursing Home Retirement Community
-
Cornisha Goldsmith Physician
-
Darlene Jester Physician
-
Kimberly Brown Physician
-
Cynthia Riley Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.87M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$13.16M
Owner & transaction history
500 Hospital Dr Fl Owner LLC · 2 yrs held
500 Hospital Dr Fl Owner LLC
since 2023
Last sale
$13.8M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$13.9M
+444.9%
Commercial (general)
$11.4M
+349.5%
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
by Request
ML approach
$11,865,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$13,860,000
Change: +445% · Conversion: Difficult
COMMERCIAL (GENERAL)
$11,435,000
Change: +349% · Conversion: Difficult
Blend value · Realmo final
$13.16M
Range $11.84M – $14.47M · ±10% · vs last sale $13.80M (Nov 6 2023)
Last sale anchor
$13.80M
Nov 6 2023
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
$244 / 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
$68,457
Tax year 2023
Assessed value
$4,231,540
Assessed 2023
Previous assessed
$4,209,939
+0.5% YoY
Effective rate
1.62%
On assessed value
Assessed land
$792,492
Assessed improvement
$3,439,048
Land market value
$792,492
Improvement market value
$3,439,048
Total market value
$4,231,540
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
64
Rooms
12
Total area
53,892 SF
Lot
6.97 ac (303,613 SF)
APN
29-3N-23-0000-0001-0010
UPID
US18-0945727
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
$13.9M
COMMERCIAL (GENERAL)
Est. value
$11.4M
OFFICE BUILDING
COMMERCIAL (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
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
64
Rooms
12
Lot
6.97 ac
Current owner
From public records · entity-resolved
500 Hospital Dr Fl Owner LLC
Entity
Free & Clear · 2 yrs held
Mailing address
885 3RD AVE, NEW YORK, NY 10022-4834
Ownership since
2023
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
Nov 6, 2023
$13,800,000
500 Hospital Dr Fl Owner LLC
Fc Encore Crestview LLC
Special Warranty Deed
—
Sep 21, 2016
$9,639,500
Fc Encore Crestview LLC
Fc Encore Core Properties LLC
Grant Deed
—
Oct 12, 2006
—
Formation Portfolio I LLC
Formation Properties I LLC
Quit Claim Deed
—
Sep 7, 2005
$3,720,000
Mcelroy Wise Dev LLC
Southeastern Consulting & Dev
Warranty Deed
$3,766,208 · Beach Community Bank
May 9, 2005
$680,200
Classic Ventures LLC
Southeastern Consulting & Dev
Warranty Deed
—
Jan 15, 2002
$5,296,900
Formation Properties I LLC
Bmo Global Capital Solutions
Grant Deed
—
—
—
Fc Encore Core Properties LLC
—
Deed Of Trust
related
$479,000,000 · Keybank USA
—
—
Mcelroy Wise Dev LLC
—
Deed Of Trust
related
$2,410,029 · Beach Community 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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