36468 Emerald Coast Parkway, Destin, FL 32541 (MLS# 808844)

36468 Emerald Coast Parkway, Destin, FL 32541

$3,300,000

Property Type: Commercial for Sale Lot Size (sq. ft.): 196,020 Status: Sold

Current Price: $3,800,000 List Date: 10/10/2018 Last Modified: 10/12/2024

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.

More Information MLS# 808844

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.