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Whataburger 399 Mary Esther Cut Off NW 2,464 SF Retail Building Fort Walton Beach, FL 32548 $3,000,000 ($1,217.53/SF) 4.71% Cap Rate
Investment Highlights
- 10+ Years Remaining | Scheduled Rental Increases | Options to Extend
- Near Signalized, Hard Corner Intersection | Dense Retail Corridor | Strong National/Credit Tenant Presence
- Absolute NNN | Fee Simple Ownership
- Strong Demographics in 5-Mile Trade Area | Six-Figure Income
Executive Summary
• The tenant currently has 10+ years remaining on their initial lease with 3 (5-year) options to extend
• Corporate signed lease by Whataburger Restaurants, LLC
• The lease features 10% rental increases every 5 years during the initial term and options, growing NOI and hedging against inflation
• Corporate signed lease by Whataburger Restaurants, LLC
• The lease features 10% rental increases every 5 years during the initial term and options, growing NOI and hedging against inflation
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,464 SF
Building Class
B
Year Built/Renovated
1989/2002
Price
$3,000,000
Price Per SF
$1,217.53
Cap Rate
4.71%
NOI
$141,381
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.62 AC
Opportunity Zone
Yes
Zoning
GC - General Commercial
Parking
29 Spaces (11.77 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Corner Lot
- Freeway Visibility
- Pylon Sign
- Signage
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | 10-2S-24-1010-0001-014B | Improvements Assessment | $192,439 |
| Land Assessment | $425,511 | Total Assessment | $617,950 |
Property Taxes
Parcel Number
10-2S-24-1010-0001-014B
Land Assessment
$425,511
Improvements Assessment
$192,439
Total Assessment
$617,950
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Whataburger | 399 Mary Esther Cut Off NW
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