114-116 Benning Dr 6,176 SF 100% Leased Retail Building Destin, FL 32541 $1,800,000 ($291.45/SF) 6.59% Cap Rate

This fully leased mixed-use investment property at 114 & 116 Benning Drive offers a rare opportunity in the thriving Destin market. Comprising two buildings with six total units—five commercial spaces and one residential apartment—the asset delivers diversified income streams and long-term stability. Positioned along a high-visibility corridor near Mountain Drive, the property benefits from strong traffic exposure and proximity to dense residential neighborhoods and commercial hubs.
The site spans 0.48 acres and includes 32 freshly striped parking spaces, ensuring convenience for tenants and visitors alike. Current leases feature annual escalations of 3–5%, supporting attractive in-place returns and projected cap rates between 7.0% and 7.3%. Tenancy includes a church under a three-year agreement and other established businesses, reinforcing the property’s reliability as a cash-flowing investment. With Destin’s robust economic growth and limited supply of mixed-use assets, this property stands out as a strategic acquisition for investors seeking stability and upside potential.