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New 10-Yr Abs NNN Lease with Regus 1012 Airport Rd 4,500 SF Office Building Destin, FL 32541 $3,317,000 ($737.11/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand new 10-year absolute NNN lease - No landlord responsibilities whatsoever
- Strong location directly adjacent to Destin Executive Airport
- Located near multiple national retailers such as Target, UPS, Chick-Fil-A, CVS, Crumbl Cookies, Hobby Lobby, Walmart, Publix and more
- Strong / National Tenant - Micro Suites USA managed by Regus
- Boasts high visibility along Airport Road in a dense office corridor
- 1 Mile From Downtown Destin, a major vacation and tourism destination seeing 4.5 million annual visitors
EXECUTIVE SUMMARY
Brand new 10-year absolute NNN lease with Micro Suites USA managed by Regus
Lease features annual 2% rental increases
No landlord management required
Strong / National Tenant - Micro Suites USA managed by Regus, which has thousands of locations in over 120 countries, with a global network of workspaces that has created a business community of 2.5 million people
2 Miles From Destin Beach access and multiple conference centers, hotels and beach resorts in Destin
15 Miles From Eglin Air Force Base, The Largest Air Force Base in the world and a major command base with over 19,000 personnel, and 16 miles from Hurlburt Field Air Force Base, With 7,900+ active duty and 17,00+ civilian employees
Strong Demographic / Affluent Location - The average household income is $116,457 within a 3-mile radius
Florida’s Emerald Coast is a major economic driver in the state due to a combination of tourism, vacation homes and military bases, contributing billions to the economy
Lease features annual 2% rental increases
No landlord management required
Strong / National Tenant - Micro Suites USA managed by Regus, which has thousands of locations in over 120 countries, with a global network of workspaces that has created a business community of 2.5 million people
2 Miles From Destin Beach access and multiple conference centers, hotels and beach resorts in Destin
15 Miles From Eglin Air Force Base, The Largest Air Force Base in the world and a major command base with over 19,000 personnel, and 16 miles from Hurlburt Field Air Force Base, With 7,900+ active duty and 17,00+ civilian employees
Strong Demographic / Affluent Location - The average household income is $116,457 within a 3-mile radius
Florida’s Emerald Coast is a major economic driver in the state due to a combination of tourism, vacation homes and military bases, contributing billions to the economy
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Building Size
4,500 SF
Building Class
A
Year Built
2006
Price
$3,317,000
Price Per SF
$737.11
Cap Rate
8%
NOI
$265,377
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,500 SF
Building FAR
0.27
Lot Size
0.38 AC
Parking
25 Spaces (5.56 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Fenced Lot
- Security System
- Signage
- Central Heating
- High Ceilings
- Partitioned Offices
- Plug & Play
- Air Conditioning
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New 10-Yr Abs NNN Lease with Regus | 1012 Airport Rd
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