100% Leased - Investment Opportunity, Downtown Milton

Office for Sale
Catylist Listing ID: 30007253
Property Subtypes: Medical, Mixed Use, Flex Space, Office Building
Building Size (RSF): 3,150 SF
Gross Building Area: See Agent
Gross Land Area: 0.24 Acres
Sale Price: $239,000
Unit Price: $75.87 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: 12.2%
Last Updated: 7/18/2019

Overview / Comments

3,150 SF Class A Office in Downtown, Milton with private parking.
Property is currently leased to Angels Home Health Care.
Lease expires 8/31/19
Floor plan offers three private offices with restroom and attached assistant office. Large conference room, break room, and reception area. High visibility on Hwy 90.

Tenant is responsible for the following:
Utilities - including water, sewerage, garbage disposal.
Up to $300 for HVAC repair & maintenance (not to exceed 3 times annually)

Estimated GRI - $36,000 Expenses: Property Tax: ($2,603) Bldg Insurance: ($1,900) Reserves - 3% ($972) Mgmt - 4% ($1,296) Estimated NOI - $29,229

Current Tenants

Tenant Business Name Angels Home Health Care
Industry Type Health Care and Social Assistance
SF of Space Occupied 3,150 SF
Current Rent $11 PSF (Annual)
Lease Expiration 8/0031
Tenant Notes Tenant is responsible for up to $300 for HVAC repair and or maintenance, not to exceed three(3) times annually.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Santa Rosa
Taxing Authority: Santa Rosa
Tax ID/APN: 03-1N-28-2530-02400-0013 & 03-1N-28-2530-02400-0010
Zoning: RC1
Property Located Between: Elmira & Santa Rosa St
Property Visibility: Excellent
Highway Access: Hwy 90
Airports: Pensacola International Airport
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1936
Roof Type: Flat
Parking Type: Surface
Parking Description: Private Parking
Sprinklers: None
Heat Type: Electricity
Heat Source: Ceiling Units
Air Conditioning: Engineered System
Zoning Description: RC1
Lot Frontage: 85
Lot Depth: 115
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple
Legal Description: TOWN OF MILTON PORT OF LOTS 1& 3 BLK 24 DES AS: COM AT PT AT NW COR OF LOT 1 PT BEING ATS R/W OF HWY 90 & W LINE OF SAID BLK TH S 158 FT TH E PARALLEL TO S LINE OF SAID BLK 25 FT & POB TH CONT E 23.8 TH N PARALLEL TO W LINE OF BLK TO S R/W LINE OF HWY 90 TH WLY ALONG SAID R/W TO PT N OF POB FOUND BY RUNNING PARALLEL TO WLINE OF BLK UNTIL LINE I/S S LINE OF SAID R/W TH S & PARALLEL TO W LINE OF SAID BLK TO POB TOGETHER WITH RIGHT TO USE ALLEY RUNNING E & W THRU LOT 3 IN SAID BLK LOCATEDS OF ABOVESAID PROPERTY AS DES IN OR 1553 PG 1473 and TOWN OF MILTON LOTS 1 & 3 BLK 24 AS DES IN OR 1553 PG 1478 LESS BEGIN 33.05 FT S OF NW CORN OF LOT 1 TH S 158 FT TH E PARALLEL TO S LINE OF SAID BLK24 48.67 FT TH NLY PARALLEL TO W LINE OF SAID BLK TO S R/WOF HWY 90 TH WLY TO POB & LESS HWY R/W

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,227 22,335 43,308
Median Age: 39.81 37.92 38.02
Households: 1,356 8,758 15,558

Contact

Photograph of Listing Agent

Paul E. Salter, CCIM

Neal & Company, LLC Gulf Coast CMLS Member
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