Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    6460 Justice Ave Milton, FL 32570

    • Office buildings
    • 4,430 SF
    • 0.20 lot acres
    For Lease
    View listing
    $470 /Mo
    Last Sale
    Mar 02, 2022
    $316,000
    Value Estimations
    $235,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3535743
    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

    • Locklin Jones / Attorney
    • Saba Daniel P / Attorney

    Property Details for 6460 Justice Ave

    Year built
    1973
    Construction
    WOOD
    Lot size
    0.20 lot acres
    Property size
    4,430 SF
    Zone code
    C1
    Property type
    Office buildings
    APN
    04-1N-28-0420-00400-0041
    APU
    041N280420004000041

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $235,000
      ML approach
      $215,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $218,000
      Market price range: $157k - $362k
      AI Estimate
      $331,000
      Market price range: $217k - $636k

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

    Location Insight

    • Map
    • Local Demand
    City
    Milton
    County
    Santa Rosa
    State
    Florida
    Longitude
    -87.0534
    Latitude
    30.6192
    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
    $3,539
    $30,114
    $210,001
    $240,115
    -
    $30,114
    $210,001
    $240,115

    Comparable in this City

    • Value Estimation
      $320,000
      7,143 SF

      6263 Dogwood Dr

      OFFICE BUILDING • 7,143 SF
      6263 Dogwood Dr, Milton, FL 32570-3500
      View Details
    • Value Estimation
      $240,000
      798 SF

      6413 Ashborough Ct

      OFFICE BUILDING • 798 SF
      6413 Ashborough Ct, Milton, FL 32570-3323
      View Details
    • Value Estimation by Request
      3,024 SF

      6827 Caroline St

      OFFICE BUILDING (MULTI-STORY) • 3,024 SF
      6827 Caroline St, Milton, FL 32570-2206
      View Details
    • Value Estimation
      $360,000
      10,728 SF

      6480 Hwy 90

      OFFICE BUILDING • 10,728 SF
      6480 Hwy 90, Milton, FL 32570-4524
      View Details
    • Value Estimation
      $165,000
      5,943 SF

      6825 Oak St

      PROFESSIONAL BUILDING • 5,943 SF
      6825 Oak St, Milton, FL 32570-6791
      View Details
    • Value Estimation
      $260,000
      3,196 SF

      5216 Willing St

      PROFESSIONAL BUILDING • 3,196 SF
      5216 Willing St, Milton, FL 32570-4913
      View Details

    Similar Nearby for Sale

    • $275,000
      2,088 SF

      Prime Milton Office Building

      Corner Lot, 2,088 SF, High-Income Area
      5603 Stewart St, Milton, FL 32570
      View Details
    • $275,000
      1,226 SF

      Prime Milton Office/Studio Investment

      Riverfront Office & Apartment, 1226 SF
      5242 willing street, Milton, FL 32570
      View Details
    • $350,000
      4,607 SF

      Milton Medical Office Building For Sale

      Prime Medical Office, 2,500 SF, near SRMC
      6044 Doctors Park, Milton, FL 32570
      View Details
    • $195,000
      1,069 SF

      Downtown Milton Commercial Building For Sale

      Commercial building in downtown Milton, convenient to Hwy 90.
      5234 Willing St, Milton, FL 32570
      View Details
    • $245,000
      1,800 SF

      Free-Standing Commercial Building in Milton

      Versatile commercial building on a corner lot, suitable for various uses.
      6017 Stewart St, Milton, FL 32570
      View Details
    • Contact for pricing

      Northwest Florida Investment Opportunity

      Single tenant, multi-building investment sale in Northwest Florida.
      4920 Glover Ln, Milton, FL 32570
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      2,500 SF

      Milton Medical Office Building

      Prime Medical Office: Sale/Lease
      6044 Doctors Park, Milton, FL 32570
      View Details
    • $16 SF/Yr
      2,052 SF

      Downtown Milton Retail Space Available

      Prime 2,052 SF retail sublease in vibrant Milton.
      6835 U.S. 90, Milton, FL 32570
      View Details
    • $595 /Mo
      123 SF

      Milton Office Suites for Lease

      Prime Milton location, 8 individual offices available.
      6460 Justice Ave, Milton, FL 32570
      View Details
    • $850 /Mo
      174 SF

      Milton Office Space for Lease

      Prime Milton location, 174 sq ft office, full-service lease.
      6460 Justice Ave, Milton, FL 32570
      View Details
    • $16 SF/Yr
      2,371 SF

      Historical Office/Retail in Downtown Milton

      Freestanding, well-maintained office/retail space in historic downtown Milton.
      6849 Oak St, Milton, FL 32570
      View Details
    • $18 SF/Yr
      2,246 SF

      Milton Medical Office Space for Lease

      Prime medical office, 2,246 SF, NNN lease.
      5950 Berryhill Medical Park Dr., Suite B, Milton, FL 32570
      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.
    6460 Justice Ave
    Milton, FL 32570
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.