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Property profile & analytics
OFF-MARKET
Estimated value
$2,050,000
Retail space
Niceville, FL 32578
Entity Owned
28-yr Hold
~
Est. High Equity
Property ID
US18-6718552
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,247 SF
Lot
7.62 ac (332,062 SF)
APN
16-1S-22-0000-0005-0010
UPID
US18-6718552
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.71M
Comparable Approach
Comparable
$1.42M
Blend (final)
Blend
$2.05M
Owner & transaction history
Cove Marine INC · 28 yrs held
Cove Marine INC
since 1998
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.6M
+10.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Niceville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Niceville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,935,000
6.5%
$2,710,000
7%
$2,515,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,350,000
Current use
RESTAURANT
$2,600,000
Change: +11% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,915,000
Change: -18% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,890,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$2.05M
Range $1.85M – $2.26M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$167 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$20,105
Tax year 2023
Assessed value
$1,620,171
Assessed 2023
Previous assessed
$1,540,656
+5.2% YoY
Effective rate
1.24%
On assessed value
Assessed land
$1,058,285
Assessed improvement
$561,886
Land market value
$1,058,285
Improvement market value
$561,886
Total market value
$1,620,171
Applied tax rate
14.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
OTHER
Stories
2
Rooms
11
Total area
12,247 SF
Lot
7.62 ac (332,062 SF)
APN
16-1S-22-0000-0005-0010
UPID
US18-6718552
Jurisdiction
OKALOOSA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.4M
RESTAURANT
Est. value
$2.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.9M
RETAIL STORES Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1980
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Rooms
11
Lot
7.62 ac
Current owner
From public records · entity-resolved
Cove Marine INC
Entity
Mailing address
290 YACHT CLB DR, NICEVILLE, FL 32578-7122
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 20, 1998
$1,600,000
Cove Marine INC
Bluewater Bay Resort Ltd
Grant Deed
$732,250 · Vanguard Bank & Trust Co
—
—
Cove Marine INC
—
Deed Of Trust
related
$168,200 · Community Bank NA
—
—
Cove Marine INC
—
Deed Of Trust
related
$1,700,000 · Community Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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