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9539 US Highway 98 W 7,680 SF Retail Building Destin, FL 32550 $2,650,000 ($345.05/SF) 6% Cap Rate
EXECUTIVE SUMMARY
Prime commercial property located on the highly sought-after south side of Highway 98, strategically positioned between Silver Sands Outlet Mall and Sandestin Resort. This meticulously maintained, free-standing building spans 7,680 sq. ft., with a new TPO roof scheduled for installation within the next eight weeks. The property is being sold occupied, as the owner is conducting a sale-leaseback. The lease is a gross lease, and the current owner is self-insured, opting not to carry wind coverage. The tenant will occupy the property for two years, with lease details available upon request. The expected return on investment is between 6.% and 6.5% varies depending if you self insure. Building constructed out of solid concrete block and flat TPO roof. Property features 16 dedicated parking. Expansive windows on both levels create a bright and inviting environment, ideal for a retail store, office space, or general commercial operation. The building offers exceptional flexibility, allowing for easy division into separate units to accommodate various business needs.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,680 SF
Building Class
B
Year Built
1986
Price
$2,650,000
Price Per SF
$345.05
Cap Rate
6%
NOI
$159,000
Tenancy
Single
Building Height
2 Stories
Building FAR
1.04
Lot Size
0.17 AC
Zoning
C - Commercial
Parking
16 Spaces (2.08 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Freeway Visibility
- Signage
- Air Conditioning
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,362,840 | |
| Land Assessment | $127,107 | Total Assessment | $1,489,947 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$127,107
Improvements Assessment
$1,362,840
Total Assessment
$1,489,947
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9539 US Highway 98 W
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