211 Main Street

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30589560
Property Subtypes: Mixed Use
Status: Pending
Building Size (RSF): 14,600 SF
Gross Building Area: See Agent
Sale Price: $990,000
Unit Price: $67.81 PSF
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 8/11/2020

Overview / Comments

Available for purchase- 14,600sf of mixed use income producing property in Destin FL with tremendous upside. This property consists of two 7,000sf (+/-) buildings with 10 units on .76 acres. Building 1 is a 7,000sf former furniture store with 4500sf of showroom and 2500sf of warehouse currently leased as two separate units. Building 2 is a 7,600sf two story brick building with 8 units (1 apartment, 6 retail / office units and 1 workshop). Current gross income is $83,580 with 90% occupancy and rental rates are well below the current market, proposed rate structure should produce net rents in excess of $110k annually, with estimated operating expenses of $2.29 per sf.

Additional Details

Nearest MSA: Crestview-Fort Walton Beach-Destin
County: Okaloosa
Tax ID/APN: 00-2S-22-1350-000A-0060
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Year Built: 1986

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,174 12,616 23,124
Median Age: 39.3 40.95 41.86
Households: 3,388 5,459 9,723

Contact

Photograph of Listing Agent

Chad Knaepple CCIM, SIOR

Taylor Allen Properties LLC Gulf Coast CMLS Member
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