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5177-5179 Stewart St
Milton, FL 32570
Milton Ridge Plaza · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Income-Producing Asset Featuring a Mix of Retail and Service-Oriented Tenants
- Existing Tenants Paying Below Market Rents – Future Renewals Present Strong Upside
- Zoned SSC-RC (Stewart Street Corridor – Residential Commercial Mixed-Use)
- One Vacancy Offers Immediate Lease-Up Potential and Rent Growth Opportunity
- Prime Location Along Stewart Street – a Major North-South Corridor Through Milton
- On-Site Billboard Installed in 2006 Provides Supplemental Advertising Income
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present 5177 Stewart Street, a value-add, multi-tenant retail investment opportunity located in the heart of Milton, Florida. Situated along a high-visibility commercial corridor, the property offers excellent exposure within the Stewart Street Corridor Residential-Commercial Mixed-Use (SSC-RC) zoning district, allowing for a wide range of future use potential. The asset consists of a 6,598-square-foot concrete block and brick building on 0.25 acres of land with approximately 75 feet of frontage on Stewart Street. Built in 1950 and updated in 1980, the building is currently 67% leased to two tenants, with one vacancy providing immediate lease-up potential. The existing leases are significantly below market, presenting a clear path to upside through future renewals or re-tenanting at current market rates. In addition to tenant income, the property includes a billboard installed in 2006, which generates supplemental advertising revenue, a rare feature that adds a steady, passive income stream to the asset’s performance.
PROPERTY FACTS
Sale Type
Investment
Property Type
Building Size
6,596 SF
Building Class
B
Year Built
1980
Price
$260,000
Price Per SF
$39.42
Cap Rate
4.56%
NOI
$11,847
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.61
Lot Size
0.25 AC
Opportunity Zone
Yes
Zoning
C2
Parking
15 Spaces (2.27 Spaces per 1,000 SF Leased)
Frontage
75’ on Stewart St
PROPERTY TAXES
| Parcel Number | 03-1N-28-0000-03500-0000 | Improvements Assessment | $142,343 |
| Land Assessment | $53,831 | Total Assessment | $196,174 |
PROPERTY TAXES
Parcel Number
03-1N-28-0000-03500-0000
Land Assessment
$53,831
Improvements Assessment
$142,343
Total Assessment
$196,174
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