Catylist ID:
#30639559
| Catylist Listing ID: | 30639559 |
| Property Subtypes: | Mixed Use, Net Leased, Office Building |
| Building Size (RSF): | 3,825 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 0.35 Acres |
| Sale Price: | $901,908 |
| Unit Price: | $235.79 PSF |
| Property Use Type: | Net Leased Investment (NNN), Investment |
| Class of Space: | Class C |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 9.0% |
| Last Updated: | 10/21/2021 |
Overview / Comments
|
Excellent absolute NNN office investment opportunity in a income tax free state. The Tenant, TSA Consulting Group, Inc., is operating on an 10-year lease with +/-2 years remaining on the initial term of the lease. The tenant is currently paying $81,171/year with 3% annual bumps during the initial term and option terms of the lease. The tenant has 3 x 5-year renewal options remaining. The property is situated on +/- .35 acres in the heart of Fort Walton Beach. Adjacent to the property is an additional building leased by the same tenant, which is also available. The properties share a parking lot which TSA Consulting uses. The properties can be purchased as a portfolio sale consisting of 3 properties with the same lease terms, or each property can be purchase individually. The site is minutes to numerous national retailers, restaurants, and other businesses, such as Ross Dress For Less, Ulta, Five Below, West Marine, Winn-Dixie, Party City, Buffalo Wild Wings, Five Guys, Starbucks, Firehouse Subs, and many more. Highlights: -NNN-Leased Office Investment Property; No Landlord responsibilities -Located in an income tax free state; ideally located in the heart of Fort Walton Beach -3% annual increases; 2 years remaining on the initial lease term with 3x5-year renewal options -Located near Eglin Pkwy, the main thoroughfare, which experiences approximately 53,000 vehicles per day - Seller has 2 other net-leased assets that can be purchased as a portfolio or individually |
Attachments & Media
Additional Details
| Nearest MSA: | Crestview-Fort Walton Beach-Destin |
| County: | Okaloosa |
| Tax ID/APN: | 13-2S-24-1910-0290-0000 |
| Property Visibility: | Excellent |
| Total Number of Buildings: | 1 |
| Number of Stories: | 1 |
| Year Built: | 1989 |
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 |
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