700 N Palm Boulevard, Niceville, FL 32578 (MLS# 990404)

700 N Palm Boulevard, Niceville, FL 32578

$1,500,000

3D Floor Plan for 700 Palm Boulevard Nor

Property Type: Commercial for Sale Lot Size (sq. ft.): 44,867 Status: Active

Current Price: $1,500,000 List Date: 11/26/2025 Last Modified: 11/26/2025

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 ap

Supplements: 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 homesmaking 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.

More Information MLS# 990404

Contract Info

GCCMLS Number: 43910842 Listing Board: Emerald Coast List Date: 2025-11-15 List Price: $1,500,000

Location, Tax and Legal

Sub Area: 1305 - Niceville North Property Name: College Manor Legal Description: VALPARAISO P/C 2 LOTS 8 TO 13 INC BLK 15

General Property Info

Listed on GCCMLS: Yes Vacant: No Immediate Occupancy: Yes Acreage: 1.03

Listing Info, Tax & Legal

As Is: No

Remarks & Misc

Remarks: 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 ap

Class

Income Producing: 1 Multi-Family: 1

Construction Status

Existing: 1

Income Producing

Property Type: Multi-Family

Multi-Family

Year Built: 1985 # of Units: 8 # Stories/Buildings: 2

None

Current Price: $1,500,000

Status Change Info

Status: Active

Location Tax and Legal

Area: 13 - Niceville Street #: 700 Street Direction: N Street Name: Palm Street Suffix: Boulevard State: FL Zip Code: 32578 County: Okaloosa Parcel ID: 05-1S-22-256B-0015-0080

Property Features

Class: Income Producing; Multi-Family Construction Status: Existing

Documents

Sellers Property Disclosures ›

Flood Disclosure ›

Floor Plan ›

Listing Office: KELLER WILLIAMS REALTY GULF COAST

Last Updated: November - 26 - 2025

All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2020 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.

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