1460 Hwy 98, Mary Esther, FL 32569

$2,650,000
Property Type: Commercial for Sale Lot Size (sq. ft.): 161,172 Status: Sold
Current Price: $2,700,000 List Date: 8/01/2017 Last Modified: 10/12/2024

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.

More Information MLS# 780504

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

Contract Info

List Date: 2017-08-01 List Price: $2,700,000 Listing Board: Emerald Coast

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

General Property Info

Listed on GCCMLS: Yes Vacant: No Acreage: 3.7 Lot SqFt: 535 Zoning: C3-GC

Income Producing

Building SqFt: 9245 Net Operating Income: 216000 Cap Rate: 8 Property Type: Retail

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© 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.

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