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    Property profile & analytics

    5740 Hwy 85 N Crestview, FL 32536

    • Land
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 5740 Hwy 85 N

    Property type
    Land
    Property subtype
    Commercial land

    Description

    This exceptional 1.9-acre property presents a remarkable opportunity for commercial development in Crestview, Florida. Strategically located just north of the established Northcrest Plaza and Winn-Dixie Plaza on Highway 85, this site benefits from high daily traffic counts along this busy thoroughfare. Currently zoned residential, the property is ideally positioned for conversion to commercial use, given its adjacency to both commercially and multi-use zoned properties. The owner has initiated the rezoning process, streamlining the path to development. The property includes an existing 2,500 square foot structure, offering flexibility for immediate use or potential redevelopment. With almost two acres of land and its prime location, this property offers endless possibilities for a variety of commercial ventures. The asking price is $849,900. This is a rare chance to acquire a significant parcel in a rapidly growing area of Crestview, offering substantial potential for return on investment. The property's address is 5740 Hwy 85 N, Crestview, FL 32536.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Crestview
    County
    State
    Florida

    Comparable in this City

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      Crestview Commercial Land For Sale

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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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    • $115,000

      Crestview Mixed-Use Land Parcel

      Mixed-use land parcel in growing Crestview market.
      3 W Juniper Ave, Crestview, FL 32536
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    • $115,000
      0.49 Acres

      Crestview, FL Mixed-Use Land

      Mixed-use land parcel in a growing Crestview market.
      W Juniper Ave, Crestview, FL 32536
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    • $79,000

      20 Acres Wooded Land Parcel

      20 acres of wooded land near Shoal River.
      20 Ac Lacey Ln, Crestview, FL 32536
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    • 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

    Similar Nearby for Sale

    • $360,000
      0.94 Acres

      Crestview Commercial Land For Sale

      Prime 1-acre development site, high traffic count.
      2350 PJ Adams Pkwy, Crestview, FL 32536
      View Details
    • $6,000,000
      6.69 Acres

      Crestview Commercial Land - Hwy 85 & PJ Adams

      6.69-Acre Development Site, High Traffic Area
      4840 S Ferdon Blvd, Crestview, FL 32536
      View Details
    • $115,000

      Crestview Mixed-Use Land Parcel

      Mixed-use land parcel in growing Crestview market.
      3 W Juniper Ave, Crestview, FL 32536
      View Details
    • $115,000
      0.49 Acres

      Crestview, FL Mixed-Use Land

      Mixed-use land parcel in a growing Crestview market.
      W Juniper Ave, Crestview, FL 32536
      View Details
    • 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
    • $79,000

      20 Acres Wooded Land Parcel

      20 acres of wooded land near Shoal River.
      20 Ac Lacey Ln, Crestview, FL 32536
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Crestview Commercial Land for Lease

      One-acre commercial outparcel available.
      1390 Ferdon Blvd, Crestview, FL 32536
      View Details
    • $18 SF/Yr
      3,190 SF

      Crestview Retail Space For Lease

      High-traffic retail space in thriving Northview Plaza.
      751 N Ferdon Blvd, Crestview, FL 32536
      View Details
    • $19 SF/Yr
      1,600 SF

      Crestview Retail Space For Lease

      High-traffic location, 1600 sq ft available.
      3301 Ferdon Blvd, Crestview, FL 32536
      View Details
    • $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
      View Details
    • $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
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    5740 Hwy 85 N
    Crestview, FL 32536
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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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