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The Commons @ Crystal Beach 4635 Gulfstarr Dr 15,000 SF 100% Leased Office Building Destin, FL 32541 $3,924,000 ($261.60/SF) 6.03% Cap Rate
INVESTMENT HIGHLIGHTS
- 15,000 square foot medical office property within close proximity to Mid-Bay Bridge and Destin Commons.
- Population that resides within 1-mile radius is expected to grow by 12 % between '24-'29: median household income for this population equals $118,400.
- High visibility and accessibility: passed by 51,600 daily drivers and accessible via Hwy 98.
EXECUTIVE SUMMARY
Attention investors: 5.6% cap rate on this 2 story class A, fully leased medical or professional office building located in the heart of Destin! Its prime corner location w/a traffic light, provides easy accessibility & significant visibility from the 60,000+ vehicles passing daily along Hwy 98. The corner site also contains a highly visible large marquee sign. Strategically located less than a mile from The Destin Commons, Whole Foods, restaurants & businesses, this professional Office building is fully leased & generates $347,884 annual income. High quality finishes & architectural appeal accent 15,000+ SF Class A office space. The month to month Tenant could vacate if Buyer wants to occupy. Inquire for further details & to schedule a private showing.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
15,000 SF
Building Class
B
Year Built
2007
Price
$3,924,000
Price Per SF
$261.60
Cap Rate
6.03%
NOI
$236,544
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
7,500 SF
Slab To Slab
10’
Building FAR
0.31
Lot Size
1.10 AC
Zoning
RT - Residential Transition
Parking
77 Spaces (5.13 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
- Balcony
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Destin Ctr For Cosmetic Denist
- Retailer
- -
-
$9.99
-
Lorem Ipsum
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Destin Ctr For Cosmetic Denist | Retailer | - | $9.99 | Lorem Ipsum | - |
PROPERTY TAXES
| Parcel Number | 00-2S-22-2380-0000-0010 | Improvements Assessment | $1,211,689 |
| Land Assessment | $521,309 | Total Assessment | $1,732,998 |
PROPERTY TAXES
Parcel Number
00-2S-22-2380-0000-0010
Land Assessment
$521,309
Improvements Assessment
$1,211,689
Total Assessment
$1,732,998
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The Commons @ Crystal Beach | 4635 Gulfstarr Dr
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