$2,250,000
Destin, FL 32541
MLS# 937982
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Property Description
VALUE ADD OPPORTUNITY ~ Available for purchase ~ 14,500 SF mixed use income producing property. This property consists of two 7,000 SF (+/-) buildings with 12 units on .72 acres. The front building is 5000 SF office / retail space with an adjacent 2,000 SF warehouse. The rear building is 7,500 SF two story brick building with 10 units (5 up/ 5 down) consisting of 3 residential 1 bedroom apartments, 2 office units and 5 retail units. This property is centrally located in Destin along Main Street just north of the Post Office and the new Publix Shopping Center. This property has many leases under market value and with the addition of Publix nearby, I feel rents will be climbing well into the future.
Details
None
Current Price: $2,250,000
Status Change Info
Status: Active
Contract Info
GCCMLS Number: 30862807
List Date: 2023-12-07
List Price: $2,250,000
Listing Board: Emerald Coast
Location, Tax and Legal
Area: 14 - Destin
Street #: 14,500 SF
Street Name: Mixed Use Income Property
State: FL
Zip Code: 32541
County: Okaloosa
Sub Area: 1403 - Destin Northwest
Parcel ID: 00-2S-22-1350-000A-0060
Legal Description: KELLY HOMES S/D LOTS 6 & 7 & S 50 FT OF LOT 33 & N 50 FT OF LOT 3 4 BLK A 980-449 & PART OF VACATED R/W JOINING PROP
General Property Info
Listed on GCCMLS: Yes
Vacant: No
Immediate Occupancy: No
Acreage: 0.72
Lot Frontage: 100
Lot Depth: 315
Zoning: TC Mixed Use
Listing Info, Tax & Legal
As Is: Yes
Remarks & Misc
Remarks: VALUE ADD OPPORTUNITY ~ Available for purchase ~ 14,500 SF mixed use income producing property. This property consists of two 7,000 SF (+/-) buildings with 12 units on .72 acres. The front building is 5000 SF office / retail space with an adjacent 2,000 SF warehouse. The rear building is 7,500 SF two story brick building with 10 units (5 up/ 5 down) consisting of 3 residential 1 bedroom apartments, 2 office units and 5 retail units. This property is centrally located in Destin along Main Street just north of the Post Office and the new Publix Shopping Center. This property has many leases under market value and with the addition of Publix nearby, I feel rents will be climbing well into the future.
Office/Member Info
Cooperative Comp: 2
Cooperative Comp Type: %
Income Producing
Building SqFt: 14500
Annual Gross Income: 232138
Expenses: 56760
Net Operating Income: 175378
Cap Rate: 7.79
Property Type: Other (See Remarks)
Multi-Family
# of Units: 12
Office
Year Built: 1986
Building SqFt: 14600
# of Units: 10
Retail
# of Units: 10
Property Features
Class: Income Producing; Multi-Family; Office; Retail
Construction Status: Existing
Listing Office: Taylor Allen Properties LLC
Last Updated: April - 23 - 2024
All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2020 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.
Saturday 27th of April 2024 08:47 PM
