Carpet One 36070 Emerald Coast Pky Local commercial 954 m² À vendre Destin, FL 32541 3 390 556 € (3 552,23 €/m²) Taux de capitalisation 7,55 %

10 year NNN sale leaseback retail with 53,000 average traffic count per day location. Local retail occupancy over 95%. Vacancy is under 2% in comparable free standing retail buildings.
Property is a commercial showroom property, owned and occupied by Coastal Carpet & Tile.
The business has been at this location 25 plus years. Current owner purchased the business in August of 2024 and would like to sell the real estate to pay off the SBA loan, which has a high interest rate.
Owner would sign a lease at a market rent rate of $27.75/SF NNN, where he is responsible for all expenses except HVAC and roof replacements. HVAC and Roof repairs can be responsibility of tenant as long as repair cost isn’t greater than 75% of the total cost to replace. Owner is open to a long term - up to 10 years.
The property is a freestanding two-story retail showroom, constructed in 2003 and comprised of approximately 10,274 square feet. The first floor consists of 8,788 square feet of net rentable area (NRA) and the second floor is comprised of 1,486 square feet, with approximately 58% of retail/showroom space and the rest storage/warehouse.
Located along the south side of Emerald Coast Parkway - with average traffic counts of approximately 53,000 vehicles per day.
Ft Walton Beach is situated in Florida's Panhandle in between the larger Pensacola and Tallahassee markets, and its population has grown by nearly 20% since 2010, and by 2.2% since 2020. That's nearly four times the population growth rate for the U.S. at large.
The area is served by multiple primary transportation arteries, including several state highways that provide access to Interstate 10, which runs east to Jacksonville and west all the way to California.
The property is located along the south side of Emerald Coast Parkway, approximately one-half mile north of Scenic Highway 98 and approximately one mile east of Spence Parkway. The subject's location is benefited by the level of single-family residential development in the neighborhood. Currently, there is an estimated 25,565 households within a 5-mile radius of the property. In addition to being surrounded by single and multi-family neighborhoods, the subject is surrounded by retail, office, and industrial uses. Single-family residential and commercial uses are a primary driver of retail demand, as well as the vehicular traffic in the immediate area.
Located in a rapidly growing area. Within a 5 mile radius, the number of households grew by 23% from 2010 to 2020. Since then, the number of households has grown another 10.15%. The local population is estimated to grow another 9% in the next 4 years.
The building includes a showroom area near the entrance along with several offices and restrooms, and a warehouse portion located towards the back of the improvements. The second story is comprised of additional storage area.
No deferred maintenance. 16 surface parking spaces. Monument signage.