Redevelopment Site on Hwy 85

Retail-Commercial for Sale
Also listed as Vacant Land
Catylist Listing ID: 30317550
Property Subtypes: Convenience Store, Day Care Facility, Free-Standing Building, Restaurant, Street Retail
Building Size (RSF): 2,863 SF
Gross Land Area: 1.43 Acres
Sale Price: $725,000
Unit Price: $253.23 PSF
Ceiling: 8 ft.
Property Use Type: Net Leased Investment (NNN)
Usable Size (USF): 2,863 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/2/2019

Overview / Comments

Redevelopment Site in Crestview on Hwy 85. This 1.43 acre parcel is located on the South bound (a.m) side of Hwy 85. Includes direct ingress and egress to the Hwy and a rear entrance on Garden St. Improvements currently include cleared back parcel (1.04 acres), 2863 single story building with no differed maintenance, large private parking, powered Pylon Sign with timer.
New commercial development within one mile of this location include Waffle House, Walmart, and a Publix Shopping Center. Existing National chains include Taco Bell, Sonic, McDonalds, Wendy's, Ace Hardware, Johnny O'Quigley's, Winn Dixie, CVS, Burger King, Pizza Hut, Papa Johns, Dave' s Catfish House and more. The City of Crestview's High School, Library, Community Center and Local Parks are also within this one mile radius. The City's Marque Cinema is across the street from the property.

Additional Details

Nearest MSA: Crestview-Fort Walton Beach-Destin
County: Okaloosa
Taxing Authority: City of Crestview, Okaloosa County
Tax ID/APN: 04-3N-23-1840-0007-0060
Zoning: COMMERCIAL
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation
Property Located Between: Jones Rd and Park Lane
Property Visibility: Excellent
Largest Nearby Street: Hwy 85
Feet of Frontage: 120
Traffic/Vehicle Count: 25,500
Highway Access: Immediate Ingress and Egress onto Hwy 85. Intersection of Hwy 90 E/W is 1.5 miles away.
Airports: Crestview Industrial Airport, Northwest Florida Regional Airport
Site Description: Located on the South Bound (a.m) side of Hwy 85, this property includes direct ingress and egress to the Hwy, along with a large private parking lot and access to the side and rear access of the building from the cleared back parcel. Additional features include a 10 x 12 Storage Building, Electric Sign with Timer and new rear entrance Awning.
Area Description: New commercial development within one mile of this location include Waffle House, Walmart, and a Publix Shopping Center. Existing National chains include Taco Bell, Sonic, McDonalds, Wendy's, Ace Hardware, Johnny O'Quigley's, Winn Dixie, CVS, Burger King, Pizza Hut, Papa Johns, Dave' s Catfish House and more. The City of Crestview's High School, Library, Community Center and Local Parks are also within this one mile radius. The City's Marque Cinema is across the street from the property.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 2,863 SF
Property Condition: Good
Year Built: 1974
Year Renovated: 2018
Roof Type: Hip
Construction/Siding: Stucco
Exterior Description: Stucco and Vinyl Siding with large covered patio and expansive paved and lined parking lot. Vacant lot is cleared. Metal Roof installed 2010. Large LED Light in parking lot that shines to back of building. Motion lights all around building.
Total Parking Spaces: 20
Parking Type: Surface
Parking Description: Paved and lined in December 2017
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable, Satellite
Interior Description: Over the past year, approximately $25,000 worth of improvements have been made to the property.
Zoning Description: C-1 (commercial district).
Lot Frontage: 120
Lot Depth: 152.9
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Easements Description: Utility easement located between cleared vacant lot and building.
Land Ownership: Owner
Legal Description: OAKDALE MIN/FARMS LOTS 6 & 7 BLK 7 AND PORTION OF ADJACENT VACATED R/W PER RES 02-70 OAKDALE MIN/FARMS LOT 1 BLK 7 AND PORTION OF ADJACENT VACATED R/W PER RES 02-70

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,389 21,109 35,123
Median Age: 34.79 36.47 35.13
Households: 2,296 7,890 12,957

Contact

Photograph of Listing Agent

Melissa Glyptis Simpson

Coldwell Banker Commercial NRT Pensacola
Gulf Coast CMLS Member
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