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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8734 Ortega Park Dr Navarre, FL 32566-4139

    • Office buildings
    • 5,833 SF
    • 0.80 lot acres
    OFF-MARKET
    Last Sale
    May 31, 2022
    $2,225,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4009710
    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

    • Office buildings

    Property Details for 8734 Ortega Park Dr

    Year built
    2004
    Construction
    STEEL FRAME
    Lot size
    0.80 lot acres
    Property size
    5,833 SF
    Zone code
    HCD
    Property type
    Office buildings
    APN
    21-2S-26-0000-00135-0000
    APU
    212S260000001350000

    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
    Navarre
    County
    Santa Rosa
    State
    Florida
    Longitude
    -86.8578
    Latitude
    30.4036
    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
    $11,852
    $295,297
    $555,532
    $850,829
    -
    $295,297
    $555,532
    $850,829

    Comparable in this City

    • Value Estimation
      $510,000
      2,491 SF

      7552 Navarre Pkwy, Unit 1

      PROFESSIONAL BUILDING • 2,491 SF
      7552 Navarre Pkwy, Navarre, FL 32566-7312
      View Details
    • Value Estimation by Request
      2,070 SF

      2178 Hwy 87

      OFFICE BUILDING • 2,070 SF
      2178 Hwy 87, Navarre, FL 32566-3214
      View Details
    • Value Estimation by Request
      2,598 SF

      7552 Navarre Pkwy, Unit 63

      PROFESSIONAL BUILDING • 2,598 SF
      7552 Navarre Pkwy, Navarre, FL 32566-7305
      View Details
    • Value Estimation
      $920,000
      2,856 SF

      8438 Gulf Blvd

      PROFESSIONAL BUILDING • 2,856 SF
      8438 Gulf Blvd, Navarre, FL 32566-7275
      View Details
    • Value Estimation
      $675,000
      8,060 SF

      8155 Navarre Pkwy

      PROFESSIONAL BUILDING • 8,060 SF
      8155 Navarre Pkwy, Navarre, FL 32566-6941
      View Details
    • Value Estimation by Request
      2,985 SF

      2016 Fountain Professional Ctb

      PROFESSIONAL BUILDING • 2,985 SF
      2016 Fountain Professional Ctb, Navarre, FL 32566-5106
      View Details

    Similar Nearby for Sale

    • $675,000
      1,944 SF

      Navarre Commercial Building For Sale

      Prime Navarre Office/Retail Space
      8400 Racing Ln, Navarre, FL 32566
      View Details
    • $625,000
      3,384 SF

      Navarre Commercial Property Investment

      High-traffic, multi-use commercial space in Navarre, FL.
      7552 Navarre Pkwy, Navarre, FL 32566
      View Details
    • $750,000
      0.07 Acres

      Navarre Office Building For Sale

      Office building in a great Navarre location with brick exterior.
      2053 Fountain Professional Ct, Navarre, FL 32566
      View Details
    • $1,500,000
      7,500 SF

      Highway 87 Commercial Property

      7,500 SF commercial property on Highway 87 for sale.
      2495 Highway 87, Navarre, FL 32566
      View Details
    • $399,000
      1.39 Acres

      Navarre Hwy 98 Commercial Land

      High-growth Navarre commercial lot. Prime Hwy 98 location.
      Xx Navarre Pkwy, Navarre, FL 32566
      View Details
    • $250,000
      0.82 Acres

      Navarre Commercial Land Opportunity

      0.82-acre commercial lot, $250,000
      Fourth St, Navarre, FL 32566
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo
      2,400 SF

      Navarre Office Space: 2400 SF Lease

      Prime Navarre office, 2400 sq ft, ideal for salon.
      1911 FL-87, Navarre, FL 32566
      View Details
    • $17 SF/Yr
      1,162 SF

      Navarre Retail Space For Lease

      Prime Navarre location, 1162 sq ft, NNN lease.
      8740 Ortega Park Dr, Navarre, FL 32566
      View Details
    • $15 SF/Yr
      5,761 SF

      Navarre Office Space For Rent

      Office space available for lease in Navarre, Florida.
      8888 Navarre Pkwy, Navarre, FL 32566
      View Details
    • $2,475 /Mo
      32,234 SF

      Navarre Office Space For Rent

      Approximately 1,500 sq ft office space available for rent.
      1756 Sea Lark Ln, Navarre, FL 32566
      View Details
    • $17 SF/Yr
      2,724 SF

      Navarre Retail Space For Lease

      Prime Navarre location, 2724 sq ft, NNN lease.
      8740 Ortega Park Dr, Navarre, FL 32566
      View Details
    • $18 SF/Yr
      13,704 SF

      Ortega Park Plaza: Navarre Office Space

      Navarre office building, prime location, high visibility.
      8740 Ortega Park Dr, Navarre, FL 32566
      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.
    8734 Ortega Park Dr
    Navarre, FL 32566-4139
    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.