$3,300,000
Destin, FL 32541
MLS# 808844
Status: Sold
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Property Description
Prime Destin location.Situated on 4.5 acres with 300' on Emerald Coast Parkway. Old South Centre is comprised of 8 one and two-story buildings with 19 offices ranging from 1,000-5,508 square feet. Beautifully designed and easily accessible, this collection of CLASS A office space attracts high quality tenants and commands the highest rents. Currently, Old South Centre is leased, providing stable income with limited near-term rollover risk. The community perfectly combines great visibility with parking and convenience. Situated in Okaloosa County near the Walton County line, Old South Centre is strategically placed on Highway 98 within minutes of the area's most sought-after resources and attractions.
Details
Contract Info
Listing Board: Emerald Coast
List Date: 2018-10-09
List Price: $3,800,000
Location, Tax and Legal
Sub Area: 1404 - Destin Beach East
Property Name: Old South Business Centre
Legal Description: Lot 1A, Lot 3, Lot 4, Lot 7, Lot 6, Lot 5 Old South Centre
General Property Info
Listed on GCCMLS: Yes
Vacant: No
Immediate Occupancy: No
Zoning: Commercial
Future Land Use: Commercial Mixed Use
Acreage: 4.5
Listing Info, Tax & Legal
As Is: Yes
Remarks & Misc
Remarks: Prime Destin location.Situated on 4.5 acres with 300' on Emerald Coast Parkway. Old South Centre is comprised of 8 one and two-story buildings with 19 offices ranging from 1,000-5,508 square feet. Beautifully designed and easily accessible, this collection of CLASS A office space attracts high quality tenants and commands the highest rents. Currently, Old South Centre is leased, providing stable income with limited near-term rollover risk. The community perfectly combines great visibility with parking and convenience. Situated in Okaloosa County near the Walton County line, Old South Centre is strategically placed on Highway 98 within minutes of the area's most sought-after resources and attractions.
Class
Income Producing: 1
Construction Status
Existing: 1
Income Producing
Year Built: 1997
Building SqFt: 33400
Price P/SqFt: 114
Annual Gross Income: 496444
Expenses: 182422
Net Operating Income: 314025
Cash Flow: 314025
Cap Rate: 8.2
Property Type: Office
None
Current Price: $3,300,000
Status Change Info
Status: Sold
Under Contract Date: 2018-10-09
Sold Date: 2018-10-17
Sold Price: $3,300,000
Location Tax and Legal
Area: 14 - Destin
Street #: 36468
Street Name: Emerald Coast
Street Suffix: Parkway
State: FL
Zip Code: 32541
County: Okaloosa
Parcel ID: 00-2S-22-1945-0000-0010
Property Features
Class: Income Producing
Construction Status: Existing
Listing Office: NBI Properties Inc
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.
