$1,500,000

700 Palm Blvd N Niceville, FL 32578

Estimated payment $9,367/month

Total Views 400
2 Beds
1 Bath
7,052 Sq Ft
$213 Price per Sq Ft

Highlights

  • Double Pane Windows
  • Storage
  • Guest Parking
  • Lula J. Edge Elementary School Rated A-
  • Tile Flooring
  • Central Heating and Cooling System

About This Home

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.

Listing Agent

Andy Powell

KELLER WILLIAMS REALTY GULF COAST Listed on: 11/24/2025

KELLER WILLIAMS REALTY GULF COAST

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1985

Parking

  • Guest Parking

Home Design

  • Slab Foundation
  • Frame Construction
  • Shingle Roof

Interior Spaces

  • 7,052 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Double Pane Windows
  • Blinds
  • Storage
  • Fire and Smoke Detector

Kitchen

  • Dishwasher
  • Laminate Countertops

Flooring

  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Full Bathroom

Eco-Friendly Details

  • Energy-Efficient Insulation

Schools

  • Local School In County Elementary And Middle School
  • Local School In County High School

Utilities

  • Central Heating and Cooling System
  • Baseboard Heating
  • Electric Water Heater
  • High Speed Internet
  • Cable TV Available

Community Details

  • 8 Units

Listing and Financial Details

  • Assessor Parcel Number 051S22256B00150080

Property Details

Home Type

Apartment

Year Built

Built in 1985

Lot Details

0

Listing Details

  • Stories: 2
  • Parcel Number: 051S22256B00150080
  • Property Type: Residential Income
  • Year Built: 1985
  • Electric: Circuit Breakers
  • Property Sub Type: Apartment
  • Horses: No
  • Subdivision Name: None
  • Directions: N. on Hwy 85 to right on College Blvd to right on Palm Blvd. Complex will be on the left.
  • Building Name: None
  • Carport Y N: No
  • Garage Yn: No
  • Unit Levels: Two
  • New Construction: No
  • Efficiency: Insulation, Insulated Walls
  • Special Features: VirtualTour

Interior Features

  • Appliances: Electric Water Heater, Dishwasher, Refrigerator
  • Full Bathrooms: 1
  • Total Bedrooms: 2
  • Flooring: Tile, Vinyl
  • Interior Amenities: Storage, Baseboards, Ceiling Fan(s), High Speed Internet
  • Window Features: Double Pane Windows, Blinds
  • Room Kitchen Features: Laminate Counters, Pantry

Exterior Features

  • Roof: Shingle
  • Lot Features: Central Access
  • Waterfront Features: None
  • Waterfront: No
  • Construction Type: Frame
  • Foundation Details: Slab
  • Property Condition: Resale

Garage/Parking

  • Parking Features: 1 Space/Unit, Guest

Utilities

  • Heating: Central
  • Cooling: Ceiling Fan(s), Central Air
  • Sewer: Public Sewer
  • Security: Smoke Detector(s)
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Utilities: Cable Available
  • Water Source: Public

Schools

  • Elementary School: Local School In County
  • High School: Local School In County
  • Middle Or Junior School: LOCAL SCHOOL IN COUNTY

Lot Info

  • Zoning Description: Res Multi

Rental Info

  • Tenant Pays: Cable TV, Electricity, Internet, Telephone, Trash Collection, Water/Sewer

Multi Family

  • Number Of Units Total: 8

Map

Range of Values:

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List Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/24/2025 11/24/25 For Sale $1,500,000 -- $213 / Sq Ft
Source: Pensacola Association of REALTORS®

Source: Pensacola Association of REALTORS®

MLS Number: 674157

Pensacola Association of REALTORS®
Florida Okaloosa County Niceville 32578

700 Palm Blvd N, Niceville, FL

For Sale

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Andy Powell
Listing Agent
Andy Powell
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KELLER WILLIAMS REALTY GULF COAST
(850) 461-9717