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Property profile & analytics
OFF-MARKET
Estimated value
$2,165,000
Specialty properties
550 Hwy 85th N Niceville, FL 32578
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-5328971
Property profile
Verified
Property type
Specialty properties
Use group
VETERINARY, ANIMAL HOSPITAL
Year built
1994
Construction
FRAME
Total area
12,302 SF
Lot
0.98 ac (42,521 SF)
APN
06-1S-22-0000-0022-0030
UPID
US18-5328971
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.17M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.81M
Blend (final)
Blend
$2.17M
Owner & transaction history
Mjs Property Holdings LLC · 2 yrs held
Mjs Property Holdings LLC
since 2024
Last sale
$2.2M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.6M
+3.2%
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 Niceville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Niceville 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
$2,165,000
ML approach
$2,165,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
VETERINARY, ANIMAL HOSPITAL
$2,530,000
Current use
RESTAURANT
$2,615,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$2,360,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$2.17M
Range $1.95M – $2.38M · ±10% · vs last sale $2.16M (Jun 21 2024)
Last sale anchor
$2.16M
Jun 21 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
$176 / 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
$15,091
Tax year 2023
Assessed value
$1,131,986
Assessed 2023
Previous assessed
$1,104,585
+2.5% YoY
Effective rate
1.33%
On assessed value
Assessed land
$245,384
Assessed improvement
$886,602
Land market value
$245,384
Improvement market value
$886,602
Total market value
$1,131,986
Applied tax rate
6.0000
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
Specialty properties
Use group
VETERINARY, ANIMAL HOSPITAL
Status
Off-Market
Year built
1994
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Rooms
42
Total area
12,302 SF
Lot
0.98 ac (42,521 SF)
APN
06-1S-22-0000-0022-0030
UPID
US18-5328971
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
VETERINARY, ANIMAL HOSPITAL Current
Est. value
$2.5M
RESTAURANT
Est. value
$2.6M
RETAIL STORES
Est. value
$2.4M
VETERINARY, ANIMAL HOSPITAL Current
RESTAURANT
RETAIL STORES
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
1994
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Rooms
42
Lot
0.98 ac
Current owner
From public records · entity-resolved
Mjs Property Holdings LLC
Entity
Free & Clear · 2 yrs held
Mailing address
125 W ROMANA ST N STE #800, PENSACOLA, FL 32502-5856
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 21, 2024
$2,162,500
Mjs Property Holdings LLC
650 Hwy 85 LLC
Warranty Deed
—
Mar 4, 2021
$1,455,000
550 Hwy 85 LLC
M & L Properties LLC
Warranty Deed
$1,293,602 · Servisfirst Bank
Jul 26, 2005
—
M Lc
Calkins,mark S & Linda W
Warranty Deed
—
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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