196 SW MIRACLE STRIP Parkway, Fort Walton Beach, FL 32548 (MLS# 703323)

Contract Info

Listing Board: Emerald Coast List Date: 2014-04-14 List Price: $995,000

Location, Tax and Legal

Sub Area: 1203 - West Fort Walton Beach Property Name: FOUNTAIN SQUARE RETAIL VILLAGE Legal Description: BEG 2781FT E OF NW COR OF SEC S TO S LINE OF SR #115 E 58 FTS TO BROOKS ST W 58 FT N TO POB OR 1027-904 BEG 2781 FT E & 576.58 FT S OFNW COR S 205.04 FT TO N R/W BROOKS ST & POB N 83 DEG W 78.87 FT N 101.42 FT S 85 DEG E 74.6 FT S 105.42 FT TO POB 1027-904

General Property Info

Lot Depth: 200 CAM: 1.5 Zoning: Commercial

Listing Info, Tax & Legal

As Is: Yes

Remarks & Misc

Remarks: *Established Tourist Retail Destination *Short walk to Gulf of Mexico and Inter-coastal Water Way *55,000 Cars a Day During Tourist Season *Strong Demographics *Adjacent and Subject Properties Offer Potential Residential Conversion *New lease model will produce 11%-ARR with a 2014 YTD NOI of $102,000

Sale Type

Real Estate Owned: 1

Class

Income Producing: 1

Income Producing

Year Built: 1940 Building SqFt: 15782 Price P/SqFt: 63 Annual Gross Income: 144205 Expenses: 64372 Net Operating Income: 79833 Cash Flow: 144205 Cap Rate: 8 Property Type: Other (See Remarks)

None

Current Price: $947,000

Status Change Info

Status: Sold Under Contract Date: 2014-05-29 Sold Date: 2014-08-28 Sold Price: $947,000

Location Tax and Legal

Area: 12 - Fort Walton Beach Street #: 196 Street Direction: SW Street Name: MIRACLE STRIP Street Suffix: Parkway State: FL Zip Code: 32548 County: Okaloosa Parcel ID: 24-2S-24-0000-0100-0000

Property Features

Class: Income Producing Sale Type: Real Estate Owned