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The Commons @ Crystal Beach 4635 Gulfstarr Dr 15,000 SF 100% Leased Office Building Destin, FL 32541 $3,500,900 ($233.39/SF) 6.76% 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: 6.76 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
$3,500,900
Price Per SF
$233.39
Cap Rate
6.76%
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 | $1,642,393 |
| Land Assessment | $542,162 | Total Assessment | $2,184,555 |
Property Taxes
Parcel Number
00-2S-22-2380-0000-0010
Land Assessment
$542,162
Improvements Assessment
$1,642,393
Total Assessment
$2,184,555
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The Commons @ Crystal Beach | 4635 Gulfstarr Dr
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