Income Producing Commercial Duplex (Office & Restaurant)

Expired Office for Sale
Catylist Listing ID: 30826756
Property Subtypes: Office Building, Other
Building Size (RSF): 7,000 SF
Sale Price: $2,250,000
Unit Price: $321.43 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 6.4%
Last Updated: 11/27/2023

Overview / Comments

Income producing commercial duplex (Office & Restaurant) available for purchase in Niceville (Bluewater Bay), FL. (4504 Highway 20, Niceville, FL) This building sits as an outparcel to a grocery anchored shopping center that has tremendous mixed use synergy. This building consists of a 5200 SF office as well as an 1800 SF restaurant space. Each space is fully leased with 5 year terms. (5200 SF space leased to a Defense Contractor - 5 year lease - Feb 1, 2023 - January 31, 2028) German restaurant space (5 year lease - March 2023 - March 2028). This restaurant space is 1800 SF with an additional 700 SF covered patio & Bier garden).

Financials

Finance Data Year 2022
Net Operating Income $144,012 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Crestview-Fort Walton Beach-Destin
County: Okaloosa
Taxing Authority: Okaloosa County
Tax ID/APN: 23-1S-22-0000-0001-004C
Zoning: C - 1
Property Visibility: Good
Year Built: 1999
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,415 20,777 32,839
Median Age: 42.25 44.3 43.34
Households: 2,540 8,186 13,420

Contact

Photograph of Listing Agent

Brett Stuart

Taylor Allen Properties LLC Gulf Coast CMLS Member
Photograph of Listing Agent

Chad Knaepple CCIM, SIOR

Taylor Allen Properties LLC Gulf Coast CMLS Member
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