$2,650,000
Mary Esther, FL 32569
MLS# 780504
Status: Sold
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Property Description
Incredible investment opportunity at 8% CAP rate! The property is the showroom/warehouse facility of Sunrise Marine boat dealership. It is under a long-term NNN lease with a national company that owns and operates top marine dealerships across North America (it acquired Sunrise Marine in 2016). Two parcels are included in sale totaling 3.7 acres with approximately 535 ft of Hwy 98 frontage. The showroom, office, and warehouse building is 9245 sqft. There is also an income producing billboard on the property. Total NOI is $216,000. The property was appraised for $2.7 million in June, 2016.
Details
Contract Info
Listing Board: Emerald Coast
List Date: 2017-08-01
List Price: $2,700,000
Location, Tax and Legal
Sub Area: 1212 - Mary Esther/West of Hurlburt
Legal Description: BEG SE COR OF RUSH PARCK WEST S/D W 236.98 FT S 299.73 FT E 237.77 FT N 299.91 FT TO POB
General Property Info
Listed on GCCMLS: Yes
Vacant: No
Lot SqFt: 535
Zoning: C3-GC
Acreage: 3.7
Listing Info, Tax & Legal
As Is: Yes
Remarks & Misc
Remarks: Incredible investment opportunity at 8% CAP rate! The property is the showroom/warehouse facility of Sunrise Marine boat dealership. It is under a long-term NNN lease with a national company that owns and operates top marine dealerships across North America (it acquired Sunrise Marine in 2016). Two parcels are included in sale totaling 3.7 acres with approximately 535 ft of Hwy 98 frontage. The showroom, office, and warehouse building is 9245 sqft. There is also an income producing billboard on the property. Total NOI is $216,000. The property was appraised for $2.7 million in June, 2016.
Class
Income Producing: 1
Construction Status
Existing: 1
Income Producing
Building SqFt: 9245
Net Operating Income: 216000
Cap Rate: 8
Property Type: Retail
None
Current Price: $2,650,000
Status Change Info
Status: Sold
Under Contract Date: 2017-09-08
Sold Date: 2017-12-01
Sold Price: $2,650,000
Location Tax and Legal
Area: 12 - Fort Walton Beach
Street #: 1460
Street Name: Hwy 98
State: FL
Zip Code: 32569
County: Okaloosa
Parcel ID: 14-2S-25-0000-0006-0000
Property Features
Class: Income Producing
Construction Status: Existing
Listing Office: OxanaSol Real Estate
Last Updated: October - 12 - 2024
All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.
