14,500 SF Mixed Use Income Property, Destin, FL 32541 (MLS# 937982)

14,500 SF Mixed Use Income Property, Destin, FL 32541

$2,227,500

Property Type: Commercial for Sale Lot Size (sq. ft.): 31,363 Status: Sold

Current Price: $2,500,000 List Date: 7/10/2024 Last Modified: 12/05/2024

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. Parking lot will be resurfaced very soon.

More Information MLS# 937982

None

Current Price: $2,227,500

Status Change Info

Status: Sold Under Contract Date: 2024-09-22 Sold Date: 2024-12-04 Sold Price: $2,227,500

Contract Info

GCCMLS Number: 30862807 List Date: 2023-12-07 List Price: $2,500,000 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 Parcel ID: 00-2S-22-1350-000A-0060

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

Income Producing

Building SqFt: 14500 Annual Gross Income: 232138 Expenses: 56760 Net Operating Income: 175378 Cap Rate: 7 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: December - 05 - 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.