700 N Palm Blvd, Niceville, FL 32578
None · Okaloosa County
Key Facts
Description
Discover the potential of this well-maintained 8-unit apartment complex, perfectly positioned for steady rental income and future growth. The property consists of two buildings connected by a breezeway, offering a cohesive layout and convenient access for residents. Each of the eight units features 2 bedrooms, 1 full bath, a comfortable living room, a dedicated dining area, and a functional kitchen equipped with an electric oven, pantry, and refrigerator. Four units are currently tenant-occupied with varying lease terms, providing immediate income while leaving room for strategic updates or new tenants as desired. Sitting on a generously sized lot, this property offers rare development flexibility. There is ample space to expand up to 15 total units, allowing the addition of another apartment building, townhomes, or even single-family homes—making it an ideal opportunity for both seasoned investors and developers. Located just down the road from Northwest Florida State College and nearby medical facilities, the demand for quality rental housing in this area remains strong. With its prime location, existing income, and room to grow, this property is truly a standout investment with unlimited potential.
Property Information
Property Type
Residential Income
Sub-Type
Apartment
Year Built
1985
Living Area
7,052 sq ft
Days on Market
101
MLS® Listing#
674157
Property Features
Interior
Appliances
Cooling
Heating
Flooring
Parking
Construction
Foundation
Roof
Windows
Security
Utilities
Sewer
Water Source
Rooms
- Kitchen
Schools
- Elementary:
- Local School In County
- Middle:
- LOCAL SCHOOL IN COUNTY
- High:
- Local School In County
Financial Details
Parcel Number
051S22256B00150080
Directions
N. on Hwy 85 to right on College Blvd to right on Palm Blvd. Complex will be on the left.
Affordability Calculator
$300,000
Estimated monthly payment
$7,984/mo
Principal $1,200,000 · Est. interest $1,674,107 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Niceville, FL
- $521,154
- Median Listing Price
- 60
- Median Days on Market
- 1,974
- Median Sq Ft
- $262
- Median Price / Sq Ft
- 165
- Active Listings
- This home’s price is 188% above the area median.
- Its price per sq ft is 19% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Niceville, FL.
Location
Points of Interest in Niceville, FL
Showing the Niceville area map.
Nearby Schools
Collegiate High School at Northwest Florida State College
Secondary School · 0.1 mi away
Rocky Bayou Christian School
Secondary · 0.8 mi away
C. W. Ruckel Middle School
Secondary · 0.8 mi away
Niceville High School
Secondary · 0.9 mi away
Edge Elementary School
Elementary · 1.4 mi away
Niceville High School
Secondary · 1.4 mi away
Okaloosa County School District
School · 1.4 mi away
James E. Plew Elementary School
Elementary · 1.5 mi away
St. Paul Lutheran Church and School of Niceville
School · 1.7 mi away
Kids Discovery
School · 1.8 mi away
Ashnick Academy
School · 1.9 mi away
Emerald Coast Autism Center
School · 2.0 mi away
Niceville Head Start
School · 2.2 mi away
Okaloosa Stemm Center
Secondary · 2.3 mi away
Addie R Lewis School
Elementary · 3.0 mi away
Bluewater Elementary School
Elementary · 4.4 mi away
Eglin Elementary School
Elementary · 6.2 mi away
Naval School Explosive Ordnance Disposal
School · 6.3 mi away
Longwood Elementary School
Elementary · 8.4 mi away
Shalimar Elementary School
Elementary · 8.4 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 1434 Addie Drive, Niceville, FL | $1,060,000 | 4 | 4 | 3,142 |
| 1013 Lake Drive, Niceville, FL | $1,080,000 | 3 | 2 | 2,301 |
| 197 Bayshore Drive, Niceville, FL | $1,099,000 | 3 | 2 | 1,800 |
| 2624 Edgewater Drive, Niceville, FL | $1,099,000 | 4 | 5 | 4,515 |
| 117 Bahia Vista Drive, Niceville, FL | $1,125,000 | 6 | 4 | 3,986 |
| 1668 Ella Lane, Niceville, FL | $1,130,000 | 5 | 5 | 3,807 |
Moving Cost Estimate
EXIT Agents in Niceville
Listing Courtesy: KELLER WILLIAMS REALTY GULF COAST - 8504715029