4477 Legendary Drive Drive, Destin, FL 32541 (MLS# 971440)

Description

Class ''A'' Office Building located in within Regatta Commons Office Park. This 2 story professional office building has a beautiful curb appeal and is designed with two tenants on the ground floor and two tenant spaces on the 2nd floor. Upon opening the large wooden front door, you are greeted with a large open 2 story foyer area that is very well designed and tastefully decorated. Access to the 2nd floor can be achieved via elevator or internal stairwell. Additionally, each floor has common area restrooms for both men & women. 3 of the 4 existing tenants are on 10 year lease terms.

Contract Info

GCCMLS Number: 38543598 Listing Board: Emerald Coast List Date: 2025-03-12 List Price: $2,250,000

Location, Tax and Legal

Sub Area: 1402 - Destin East of Hwy 293/Midbay Bridge Rd Legal Description: 4477 LEGENDARY DRIVE UNIT 101 & 202

General Property Info

Listed on GCCMLS: Yes Property Information: Class 'A' Office Building located in within Regatta Commons Office Park. This 2 story professional office building has a beautiful curb appeal and is designed with two tenants on the ground floor and two tenant spaces on the 2nd floor. Upon opening the large wooden front door, you are greeted with a large open 2 story foyer area that is very well designed and tastefully decorated. Access to the 2nd floor can be achieved via elevator or internal stairwell. Vacant: No Immediate Occupancy: No CAM: 6.76 CAM Per: Year

Listing Info, Tax & Legal

As Is: Yes

Remarks & Misc

Remarks: Class ''A'' Office Building located in within Regatta Commons Office Park. This 2 story professional office building has a beautiful curb appeal and is designed with two tenants on the ground floor and two tenant spaces on the 2nd floor. Upon opening the large wooden front door, you are greeted with a large open 2 story foyer area that is very well designed and tastefully decorated. Access to the 2nd floor can be achieved via elevator or internal stairwell. Additionally, each floor has common area restrooms for both men & women. 3 of the 4 existing tenants are on 10 year lease terms.

Class

Income Producing: 1 Office: 1

Construction Status

Existing: 1

Office

Year Built: 1998 Building SqFt: 9059 Expenses: 61294 Net Operating Income: 173190 Cap Rate: 7.7 # of Units: 4

Income Producing

Building SqFt: 9059 Expenses: 61294 Net Operating Income: 173190 Cap Rate: 7.7 Property Type: Office

None

Current Price: $2,250,000

Status Change Info

Status: Sold Under Contract Date: 2025-05-09 Sold Date: 2025-07-11 Sold Price: $2,250,000

Location Tax and Legal

Area: 14 - Destin Street #: 4477 Street Name: Legendary Drive Street Suffix: Drive State: FL Zip Code: 32541 County: Okaloosa Parcel ID: 00-2S-22-2205-0000-0202; 00-2S-22-2205-0000-0101

Property Features

Class: Income Producing; Office Construction Status: Existing