Navarre Beach Office with Condos

Office for Sale
Catylist Listing ID: 30854677
Building Size (RSF): 2,392 SF
Gross Building Area: See Agent
Sale Price: $1,050,000
Unit Price: $438.96 PSF
Property Use Type: Investment
Usable Size (USF): 2,392 SF
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 7/12/2024

Overview / Comments

Consider this: You purchase a very well maintained, concrete block building right across from the Gulf of Mexico. The building itself is priceless due to the lack of commercial opportunities on a beach with a rapidly growing tourist population. Then, you add three income streams which produce, on average, approximately $100,000 a year with potential for growth. The building currently holds a property management company which has been in place for over 5 years and intends to stay. Additionally, there are two gorgeous, well equipped short term rental properties which are turn-key. Either keep what's there or rearrange for your personal business and living opportunity. Either way, it is a great deal for you.

Investment Potential:
Individually the short term units would sell for approximately $300,000 each based on current market data. Projections place the potential income for each between $40,000-$45,000 a year, a significant return on investment. Additionally, the fully leased office space on the first floor provides income stability year-round. The current tenants have leased the space from the current owners for 5 years and currently pay $5,000 a month.

Whether you're an experienced investor or a first-time buyer, this property promises a solid return on investment and endless possibilities for future growth.

First Floor Office Space:
Currently leased by a reputable property management company. The space is well-appointed and professionally designed to meet the needs of modern businesses. Offers a spacious layout, ideal for various commercial purposes. Stable rental income stream provides stability and security for investors.

Two Remodeled 1 Bedroom Short Term Rental Units:
Two beautifully renovated units on the top floor, each featuring one bedroom.
Designed with a focus on comfort, style, and functionality. Boasts breathtaking views of the surrounding landscape and easy beach access. Fully furnished and equipped with modern amenities to ensure a memorable stay for guests. Exceptional rental history, with high occupancy rates and positive guest reviews.

Schedule your private viewing today and unlock the door to endless investment opportunities.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Santa Rosa
Tax ID/APN: 28-2S-26-0000-00900-0000
Zoning: NB-C
Property Visibility: Excellent
Site Description: Just off Gulf Boulevard facing the Gulf of Mexico, the building has a peek-a-boo view of the Gulf. Prime visibility for residents and vacationers due to the presence of a highly utilized walking trail. Beach access across the street from the building. The property has parking in the front. Each upstairs unit has a private balcony and the back of the building has shared space equipped for grilling and enjoying the outdoors.
Area Description: Navarre Beach is a favorite of vacationers with easy access to the white sand beaches and clear emerald waters of the Emerald Coast. Referred to in the past as "Florida's best little kept secret" it has quickly emerged as a destination for vacationers from all over the country and Canada. Most commercial activity is located on the mainland, which helps Navarre Beach avoid the traffic issues associated with highly commercialized areas such as Destin and Pensacola. The Gulf Island National Seashore is adjacent to Navarre Beach and provides guests with multiple opportunites to find relaxed beach locations away from the crowds. Navarre Beach is also the location of the longest fishing pier on the Gulf of Mexico and a multitude of sea life is visible from the pier. This is truly a unique place and a great place to invest.
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1988
Year Renovated: 2019
Roof Type: Flat
Construction/Siding: Stucco
Parking Type: Surface
Heat Type: Electricity
Heat Source: Central
Interior Description: The office space is adaptable to desired use. Currently there is a front desk in the welcoming area, multiple storage spaces, two offices and a laundry area for which the current owners have installed water and electrical access for 2 commercial washers and 2 commercial dryers. The upstairs rental units each have one bathroom, one bedroom and a large laundry room with storage. The kitchen and living area are open and well equipped for short-term stays with gorgeous quartz countertops and stainless steel appliances. The entire upstairs has been completely updated since 2019. Each unit upstairs has a private balcony.
Lot Frontage: 54
Lot Depth: 165
Water Service: Municipal
Sewer Type: Municipal
Legal Description: COM NE COR OF LOT 20 1ST ADDT NAVARRE BEACH (PB 5 PG 95) THN N10 49'27W 120 FT TO NLY R/W LI GULF BLVD THN N79 10'33E ALG R/W 205 FT TO POB THN CONT 50 FT THN N10 49'27W 160 FT THN S79 10'33W 50 FT THN S10 49'27E 160 FT TO POB TOG/W AN EXCL ESMNT ALL AS DES IN OR 3453 PG 1318

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 13,103 28,525
Median Age: 35.36 36.09
Households: 4,941 10,726

Contact

Photograph of Listing Agent

Wendy Williams

Coldwell Banker Realty Gulf Coast CMLS Member
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