Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6024 Spikes Way Milton, FL 32583-2827

    • Office buildings
    • 8,310 SF
    • 1.08 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4298311
    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

    • Avalon of Lakeview Center / Crisis Center / Medical Clinic
    • Nancy Hart / Physician
    • Tanya Theriault / Physician
    • Susan Michaels / Physician
    • Candace G. Harrison, LMHC / Counselor

    Property Details for 6024 Spikes Way

    Year built
    1987
    Construction
    WOOD
    Lot size
    1.08 lot acres
    Property size
    8,310 SF
    Zone code
    HCD
    Property type
    Office buildings
    APN
    17-1N-28-0000-03502-0000
    APU
    171N280000035020000

    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
    Milton
    County
    Santa Rosa
    State
    Florida
    Longitude
    -87.0715
    Latitude
    30.5995
    CBSA code
    37860
    CBSA name
    PENSACOLA-FERRY PASS-BRENT, 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
    $0.00
    $56,160
    $580,183
    $636,343
    -
    $56,160
    $580,183
    $636,343

    Comparable in this City

    • Value Estimation by Request

      2,350 SF Office Building For Sale

      2,350 SF Office Building For Sale
      5702 Pebble Ridge Dr, Milton, FL 32583
      View Details
    • Value Estimation
      $7,800,000
      39,480 SF

      5510 Industrial Blvd

      OFFICE BUILDING • 39,480 SF
      5510 Industrial Blvd, Milton, FL 32583-8717
      View Details
    • Value Estimation by Request
      2,041 SF

      8500 Welcome Church Rd

      OFFICE BUILDING • 2,041 SF
      8500 Welcome Church Rd, Milton, FL 32583-2582
      View Details
    • Value Estimation by Request
      1,120 SF

      7537 Hwy 90

      OFFICE BUILDING • 1,120 SF
      7537 Hwy 90, Milton, FL 32583-3052
      View Details
    • Value Estimation by Request
      1,653 SF

      6368 Da Lisa Rd

      OFFICE BUILDING • 1,653 SF
      6368 Da Lisa Rd, Milton, FL 32583-7635
      View Details
    • Value Estimation
      $2,075,000
      11,070 SF

      5495 Industrial Blvd

      OFFICE BUILDING • 11,070 SF
      5495 Industrial Blvd, Milton, FL 32583-8715
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,480 SF

      Highway Frontage Office and Warehouse

      Functional office and warehouse space with highway frontage.
      7513 Highway 90, Milton, FL 32583
      View Details
    • $225,000
      3.86 Acres

      Bagdad Land for Residential Development

      3.86 acre lot suitable for residential development in Bagdad, FL.
      Morrison Rd, Milton, FL 32583
      View Details
    • $59,000
      Pending

      Half-Acre Lot in East Milton

      Vacant 0.57-acre lot in a high-demand East Milton area.
      W Lynn Rd, Milton, FL 32583
      View Details
    • $275,000

      Bay Pointe Plantation Lot 30C

      Prime Milton, FL Residential Land
      0 Old Bay Pointe Rd, Milton, FL 32583
      View Details
    • $70,000
      0.46 Acres

      Vacant Land in East Milton

      High and dry building lot, convenient location near Hwy 87.
      4769 Christopher Ln, Milton, FL 32583
      View Details
    • $899,000
      1 SF

      Highway 87 Development Opportunity

      Prime land near NAS Whiting Field, Milton, Florida.
      Highway 87, Milton, FL 32583
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      8,724 SF

      Prime Milton Office Space For Lease

      8,724 SF Class A Office/Flex Space in Milton, FL
      8100 Opportunity Drive, Milton, FL 32583
      View Details
    • Contact for pricing

      FL, Milton - Opportunity Dr

      Discover many ways to work your way in Lake Mead Boulevard
      8100 Opportunity Dr, Milton, FL 32583
      View Details
    • $45 SF/Yr
      607 SF

      Prime Milton Executive Suites

      607 SF Office, Class A, Full-Service Lease
      8100 Opportunity Drive, Milton, FL 32583
      View Details
    • $916 /Mo
      157 SF

      Prime Milton Office Space For Lease

      157 sq ft, Class A, Full-Service Lease
      8100 Opportunity Drive, Milton, FL 32583
      View Details
    • $5,850 /Mo
      2,331 SF

      Milton Office & Laydown Yard

      Prime Office Space, Acreage, I-10 Access
      8795 Highway 87 S, Milton, FL 32583
      View Details
    • $735 /Mo
      126 SF

      Milton Office Space: Prime Location

      126 sq ft office, full-service lease.
      8100 Opportunity Drive, Milton, FL 32583
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6024 Spikes Way
    Milton, FL 32583-2827
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!