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    Property profile & analytics

    698 Ferdon Blvd Crestview, FL 32536

    • Grocery and convenience stores
    • 4,563 SF
    • 0.70 lot acres
    For Sale
    View listing
    $1,400,000
    Last Sale
    Jun 30, 2025
    $1,100,000
    Value Estimations
    Cap Rate Potential
    8.1%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US18-3150615
    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

    • Krispy Krunchy Chicken / Chicken Restaurant
    • CoinFlip Bitcoin ATM / Bank / Business Banking Service
    • FLA Convenience / Convenience Store / Deli
    • Exxon / Gas Station

    Property Details for 698 Ferdon Blvd

    Year built
    1968
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.70 lot acres
    Property size
    4,563 SF
    Property type
    Grocery and convenience stores
    APN
    08-3N-23-0000-0050-0000
    APU
    083N23000000500000

    Description

    This thriving Exxon Mobile gas station in Crestview, Florida, presents a unique investment opportunity. Priced at $1,400,000, this Class B, single-tenant property boasts 2,342 square feet on a 0.61-acre lot. Built in 1998 and renovated in 2008, the property features a 100% occupancy rate with a 4.00% cap rate. The NNN lease structure ensures a low-maintenance investment. Key features include two gas pumps, a beer cave, two walk-in coolers, and a full-service commercial kitchen operating a Krispy Krunchy Chicken franchise. The property also benefits from a large front and rear parking lot, a recently replaced roof, and tile restrooms. Its prime location near I-10, major restaurants, Eglin Air Force Base, and the popular tourist destinations of Pensacola and Destin, Florida, ensures high traffic volume. A new Exxon sign is expected in October 2024. The property is zoned COM and is being sold as an owner-user sale. A non-disclosure agreement and proof of funds will be required. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,520,000
      ML approach
      $1,445,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,050,000
      6.5%
      $1,895,000
      7%
      $1,760,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Crestview
    County
    Okaloosa
    State
    Florida
    Longitude
    -86.5673
    Latitude
    30.7692
    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
    $5,832
    $190,999
    $172,083
    $363,082
    -
    $190,999
    $172,083
    $363,082

    Comparable in this City

    • Value Estimation
      $8,655,000
      15,718 SF

      5353 Ferdon Blvd, Unit 101

      CONVENIENCE STORE • 15,718 SF
      5353 Ferdon Blvd, Crestview, FL 32536-5239
      View Details
    • Value Estimation by Request
      3,940 SF

      775 Main St

      CONVENIENCE STORE • 3,940 SF
      775 Main St, Crestview, FL 32536-4264
      View Details
    • Value Estimation by Request
      9,125 SF

      813 Ferdon Blvd

      CONVENIENCE STORE • 9,125 SF
      813 Ferdon Blvd, Crestview, FL 32536-2115
      View Details
    • Value Estimation by Request
      4,077 SF

      994 James Lee Blvd

      CONVENIENCE STORE • 4,077 SF
      994 James Lee Blvd, Crestview, FL 32536-5137
      View Details
    • Value Estimation by Request
      3,720 SF

      1098 Ferdon Blvd

      CONVENIENCE STORE • 3,720 SF
      1098 Ferdon Blvd, Crestview, FL 32536-4510
      View Details
    • Value Estimation
      $530,000
      8,262 SF

      1238 Ferdon Blvd

      CONVENIENCE STORE • 8,262 SF
      1238 Ferdon Blvd, Crestview, FL 32536-1752
      View Details

    Similar Nearby for Sale

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      Crestview Gas Station - Prime Investment

      High-traffic location, strong ROI potential. Includes building & business.
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    Similar Nearby for Lease

    • $14,675 /Mo
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      Crestview Retail Space - 11,000 SF

      High-traffic location, flexible lease options.
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    • $20 SF/Yr
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      Crestview Retail Space For Lease

      Prime 2,003 SF retail space in thriving Northview Plaza.
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      View Details
    • $20 SF/Yr
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      Crestview Retail Space For Lease

      High-traffic retail space in thriving Northview Plaza.
      751 N Ferdon Blvd, Crestview, FL 32536
      View Details
    • $20 SF/Yr
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      Prime Corner Suite in Crestview

      Highly visible corner suite ideal for medical, office, or retail.
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    • Contact for pricing
      1,200 SF

      Retail Space on SR-85

      Retail space with high visibility in a growing market.
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    • $210 SF/Yr

      Retail, Office, Warehouse Space

      Versatile space for lease, trade new roof for rent.
      404 W James Lee Blvd, Crestview, FL 32536
      View Details
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    698 Ferdon Blvd
    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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