Portfolio of 2 Assets ~ Sold together

Shopping Center for Sale
Catylist Listing ID: 30581704
Property Subtypes: Free-Standing Store, Strip Center
Building Size (RSF): 24,972 SF
Gross Building Area: See Agent
Sale Price: $2,700,000
Unit Price: $108.12 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Pointe Plaza & Childcare Network
Sale Terms: Cash to Seller
Cap Rate: 7.88%
Last Updated: 9/15/2020

Overview / Comments

Income Producing Retail Properties being sold together with long tenant history. These properties are located in Northwest Florida just outside the gates of Eglin Air Force Base. Pointe Plaza, is an Inline Strip center that is 19,282 SF with a solid mix of retail & office tenants. The adjacent property, Childcare Network (5690 SF) has been leased to the same tenant since the 1985, when the building was built. Both
properties operate seamlessly adjacent to each other. This is a great investment opportunity with a good mix of established tenants as well as new tenants with new 5 year lease terms.

Financials

Finance Data Year 2020
Net Operating Income $212,875 (Annual)

Additional Details

Nearest MSA: Crestview-Fort Walton Beach-Destin
County: Okaloosa
Tax ID/APN: 12-1S-23-253E-0023-0010
Retail Clientele: General, Business, Tourist
Property Located Between: Eglin Air Force Base & Destin / Fort Walton Beach Airport
Property Visibility: Excellent
Largest Nearby Street: Government Avenue (Highway 85)
Airports: Destin - Fort Walton Beach Airport
Total Number of Buildings: 2
Property Condition: Average
Year Built: 1985
Parking Type: Surface
Sprinklers: Wet
Air Conditioning: Engineered System
Zoning Description: General Commercial
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress, Utilities

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,283 16,532 35,423
Median Age: 36.15 39.94 41.23
Households: 1,400 6,502 13,992

Contact

Photograph of Listing Agent

Brett Stuart

Taylor Allen Properties LLC Gulf Coast CMLS Member
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