8424 Racing Lane, Navarre, FL 32566 (MLS# 887534)

8424 Racing Lane, Navarre, FL 32566

$362,000

Property Type: Commercial for Sale Lot Size (sq. ft.): 11,761 Status: Sold

Current Price: $379,990 List Date: 12/16/2021 Last Modified: 10/13/2024

Description

**INVESTMENT OPPORTUNITY** Duplex located less than 2 miles from Navarre Beach. Both units are occupied and are income producing multi-family with existing leases. There are 2 separate units, 8424 and 8426. Each unit is approximately 800 square feet in size with 2 bedrooms and 1 full bath. Unit 8424 has been updated and comes mostly furnished. This property is located less than 2 miles from the Beach offering an excellent opportunity for substantially higher income once the existing leases expire with short term rentals or Airbnb. The roof was just replaced in October 2021. Don't miss your opportunity to own this income producing property with future potential for much higher revenues.

Supplements: This property is also listed in Residential properties under MLS #886484.

More Information MLS# 887534

None

Current Price: $362,000

Status Change Info

Status: Sold Under Contract Date: 2022-02-26 Sold Date: 2022-04-20 Sold Price: $362,000

Contract Info

GCCMLS Number: 30778528 List Date: 2021-12-15 List Price: $379,990 Listing Board: Emerald Coast

Location Tax and Legal

Area: 11 - Navarre/Gulf Breeze Street #: 8424 Street Name: Racing Street Suffix: Lane State: FL Zip Code: 32566 County: Santa Rosa Parcel ID: 20-2S-26-5765-00000-0010

General Property Info

Listed on GCCMLS: Yes Property Information: This property consists of 2 units and both of them are presently occupied with leases. The combined monthly gross income is $2325.00 for both units and $27,900.00 annually. These units can potentially provide an excellent opportunity for substantially higher income once the existing leases expire with short term rentals or Airbnb. Buyer is responsible to verify all potential for short term rental. Vacant: No Immediate Occupancy: No Acreage: 0.27 Lot SqFt: 11761 Lot Frontage: 101 Lot Depth: 126 CAM: 100 CAM Per: Month Zoning: Commercial

Income Producing

Year Built: 1982 Building SqFt: 1593 Price P/SqFt: 238.54 Annual Gross Income: 27900 Expenses: 7200 Net Operating Income: 20716 Cap Rate: 5.45 Property Type: Multi-Family

Multi-Family

# of Units: 2 Actual Gross Income: 27900 # Stories/Buildings: 1

Property Features

Class: Income Producing; Multi-Family Construction Status: Existing

Listing Office: Corcoran Reverie Destin

Last Updated: October - 13 - 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.