• 95 Views
• Other
• 7,487 Sq Ft
• 0 Beds
• 0 / Baths
• 

• $2,100,000

The structure is a Class A, Retail/Office, 6,901 square feet building with tremendous upside. It is constructed of concrete poured block and steel beam supported ceilings. The roof is tile and one piece member of rubber. It is equipped with a complete fire sprinkler system and is monitored on a 24/7 basis. The complex also has ample parking and excellent signage on Thomas Drive. The building consists of 2 units with one at 4985 square feet and the other at 1916 square feet. Taylor's Restaurant currently occupies the 4985 square feet unit. They are currently in their 2nd 5-year lease term. Annual rent plus CAM is $103,611. Realty One Group Emerald Coast occupies the remaining 1916 square feet of the building. They have a 2-year lease which started Sept 2021. Current rental income is $38,320 which includes CAM. Total annual income for the property is $141,931. Expenses are approximately $41,000. NOI is approximately $100,931 which is a 4.8 Cap Rate. This Class A Structure is located on Thomas Drive directly across from the Naval Support System. Th exterior was recently sealed and painted. Thomas Drive is the main tourist artery that serves the beaches. Other retail in the area includes Dunkin Donuts, Burger King, Rose's Nails, Nick's Cleaners, Cool Vapors, Nephrology Associates, and Fatty Patty Restaurant and Bakery. Also included is the LaQuinta Hotel. Tremendous Upside!. SELLER IS OFFERING FINANCING WITH 25% DOWN, 6% INTEREST, AND PAYMENTS BASED ON A 30 YEAR TERM WITH A 10 YEAR CALL. Additional Property available in the same Complex. SEE MLS 666930 and 666936,

Listing provided courtesy of Varnes Realty

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• Architecture

  • Year Built: 2008
  • Stories: 0
  • Project Facilities:
  • Construction:

• Interior Features

  • Square Footage: 7487
  • Appliances:
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• Property Features

  • Waterview:
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  • Zoning:
  • Acres: 1

• Community

  • HOA Includes:N/A
  • HOA FEE:N/A
  • HOA Payable:N/A
  • Elementary: Patronis
  • Middle: Surfside
  • High: Arnold