Investment NNN Leased Office Building

Office for Sale
Catylist Listing ID: 30820088
Property Subtypes: Mixed Use, Net Leased, Office Building
Building Size (RSF): 2,208 SF
Gross Building Area: See Agent
Gross Land Area: 0.23 Acres
Sale Price: $670,000
Unit Price: $303.44 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Business
Building Name: Easy Vacation Services
Class of Space: Class C
Sale Terms: Cash to Seller
Cap Rate: 9.0%
Last Updated: 7/19/2024

Overview / Comments

Excellent Investment NNN Leased Building in an income tax-free state. The property is situated on +/-0.23 acres in the heart of Fort Walton Beach and is located in the core retail trade area for the market. The tenant, Easy Vacation Services, shares a parking lot which is used by Step One Automotive Group. The property is within minutes of numerous national retailers, restaurants, and other businesses, which include Ross Dress For Less, Ulta, Five Below, West Marine, Winn-Dixie, Party City, Buffalo Wild Wings, Five Guys, Starbucks, Firehouse Subs, and many more.
Seller financing will be considered.

Financials

Finance Data Year 2022
Net Operating Income $53,767 (Annual)
Actual or Proforma Year Actual

Current Tenants

Tenant Business Name Easy Vacation Services
Website URL https://www.easyvacationservices.com/
Is Renting? Yes
Annual Revenue $207,058 (Annual)
SF of Space Occupied 2,208 SF
Lease Expiration 2/0028

Additional Details

Nearest MSA: Crestview-Fort Walton Beach-Destin
County: Okaloosa
Tax ID/APN: 13-2S-24-1910-0292-0000
Property Visibility: Excellent
Area Description: Fort Walton Beach is located between Pensacola and Panama City. The Property's trade area is largely characterized by military personnel from Eglin Air Force Base and Hurlburt Field. Eglin Air Force Base covers over 463,000 acres and employs more than 8,500 military and approximately 4,500 civilians. Hurlburt Field has 10,782 active duty military personnel and 1,316 civilian employees. These combine to create a very stable employment base for the trade area, making it highly desirable. The new projects and infrastructure improvements within the Fort Walton Beach MSA have drawn private development to the city, creating new jobs and a booming economy. With the stable economy, Northwest Florida College, the largest U.S. air force base globally, strong tourism market, low state taxes, highly-rated school systems, and beautiful beaches, Okaloosa County, Florida has become a highly sought-after MSA and community to reside and popular tourist destination.
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1989
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,039 44,411 65,566
Median Age: 41.33 39.57 39.06
Households: 4,137 19,460 28,011

Contact

Photograph of Listing Agent

Harry Bell

Bellcore Commercial LLC Gulf Coast CMLS Member
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