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

    5204 Ferdon Blvd Crestview, FL 32536-9236

    • Bowling alleys
    • 26,314 SF
    • 0.10 lot acres
    OFF-MARKET
    Last Sale
    Nov 05, 2020
    $1,875,000
    Value Estimations
    $2,235,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-9174307
    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

    • Destiny Worship Center / Religious Institution

    Property Details for 5204 Ferdon Blvd

    Year built
    1988
    Construction
    STEEL FRAME
    Lot size
    0.10 lot acres
    Property size
    26,314 SF
    Property type
    Bowling alleys
    APN
    05-2N-23-0000-0003-001A
    APU
    052N2300000003001A

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,235,000
      ML approach
      $2,490,000

    • Alternative Use

      Use
      Estimation
      RECREATIONAL/ENTERTAINMENT (GENERAL)
      $2,830,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $3,480,000
      Change: +23% Conversion: Difficult
      RESTAURANT
      $3,155,000
      Change: +11% Conversion: Difficult
      RETAIL STORES
      $2,520,000
      Change: -11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Crestview
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.572
    Latitude
    30.7065
    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
    $9,930
    $692,645
    $57,372
    $750,017
    -
    $692,645
    $57,372
    $750,017

    Comparable in this City

    • Value Estimation
      $395,000
      12,323 SF

      544 Main St

      DANCE HALL • 12,323 SF
      544 Main St, Crestview, FL 32536-3538
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    • Value Estimation
      $265,000
      2,750 SF

      301 Main St

      DANCE HALL • 2,750 SF
      301 Main St, Crestview, FL 32536-3541
      View Details
    • Value Estimation
      $1,215,000
      13,000 SF

      381 Coleman St

      SKATING RINK, ICE SKATING, ROLLER SKATING • 13,000 SF
      381 Coleman St, Crestview, FL 32536-2603
      View Details
    • Value Estimation
      $260,000
      480 SF

      4050 Ferdon Blvd

      RECREATIONAL, ENTERTAINMENT • 480 SF
      4050 Ferdon Blvd, Crestview, FL 32536-5219
      View Details
    • Value Estimation
      $810,000
      4,369 SF

      800 Spg Crk Blvd

      RECREATIONAL, ENTERTAINMENT • 4,369 SF
      800 Spg Crk Blvd, Crestview, FL 32536-5175
      View Details
    • Value Estimation
      $290,000
      8,048 SF

      298 Wilson St

      RECREATIONAL, ENTERTAINMENT • 8,048 SF
      298 Wilson St, Crestview, FL 32536-3438
      View Details

    Similar Nearby for Sale

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      Crestview Commercial Building - High Potential

      Prime location, versatile space, near future Walmart.
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      6.24 Acres Hwy 85 N Commercial Land

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      Prime 4.26-acre commercial lot, ideal location.
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    • $479,000
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      Crestview Restaurant - Prime Location

      Profitable restaurant, high traffic area, immediate occupancy.
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    • $6,000,000
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      Crestview Commercial Land - Hwy 85 & PJ Adams

      6.69-Acre Development Site, High Traffic Area
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    • $65,000

      Half Acre Vacant Land

      Cleared, flat half-acre lot, ideal for new home construction.
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    Similar Nearby for Lease

    • $18 SF/Yr
      3,190 SF

      Crestview Retail Space For Lease

      High-traffic retail space in thriving Northview Plaza.
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    • $19 SF/Yr
      1,600 SF

      Crestview Retail Space For Lease

      High-traffic location, 1600 sq ft available.
      3301 Ferdon Blvd, Crestview, FL 32536
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    • $3,000 /Mo
      11,141 SF

      Office and Warehouse Space Available

      Convenient location with offices, conference room, and warehouse space.
      701 Ashley Dr, Crestview, FL 32536
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    • $14 SF/Yr
      1,950 SF

      Medical/Professional Office Park Space

      Flexible medical and professional office space for lease.
      4100 S Ferdon Blvd, Crestview, FL 32536
      View Details
    • $1,050 /Mo

      Crestview Retail or Office Space

      High-traffic corner location suitable for retail or office use.
      1097 S Ferdon Blvd, Crestview, FL 32536
      View Details
    • $1,226 /Mo

      Retail/Office Space on Hwy 90

      New retail or office space near I-10 connection.
      200 1St Ave, Crestview, FL 32536
      View Details
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    Crestview, FL 32536-9236
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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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