4477 Legendary Dr
9,059 SF 100% Leased Office Building Destin, FL 32541 $3,224,835 CAD ($355.98 CAD/SF) 7.70% Cap Rate
INVESTMENT HIGHLIGHTS
- Regatta Commons is 13,000 square foot multi-tenant waterfront office building in Destin, Florida.
- The affluent population that live within 1-square mile are expected to see growth of 11.96% between '24-'29: median household income equals $118,300.
- The highly visible property is passed by 51,600 daily drivers.
EXECUTIVE SUMMARY
Class "A" Office Building located in within Regatta Commons Office Park. This 2-story professional office building has a beautiful curb appeal and is designed with two tenants on the ground floor and two tenant spaces on the 2nd floor. Upon opening the large wooden front door, you are greeted with a large open 2-story foyer area that is very well designed and tastefully decorated. Access to the 2nd floor can be achieved via elevator or internal stairwell. Additionally, each floor has common area restrooms for both men & women. 3 of the 4 existing tenants are on 10 year lease terms.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$87,850
|
$9.70
|
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
9,059 SF
Building Class
A
Year Built/Renovated
1997/2022
Price
$3,224,835 CAD
Price Per SF
$355.98 CAD
Cap Rate
7.70%
NOI
$248,226 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,530 SF
Slab To Slab
10’
Building FAR
0.59
Lot Size
0.35 AC
Parking
32 Spaces (3.53 Spaces per 1,000 SF Leased)
AMENITIES
- Waterfront
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Consolidated Burger Holdings
- Management of Companies and Enterprises
- -
- -
- -
- Men's Health
- Health Care and Social Assistance
- -
- $30.10 CAD
- Jun 2031
- Pleat Perry & Ritchie
- Professional, Scientific, and Technical Services
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Consolidated Burger Holdings | Management of Companies and Enterprises | - | - | - | ||
| Men's Health | Health Care and Social Assistance | - | $30.10 CAD | Jun 2031 | ||
| Pleat Perry & Ritchie | Professional, Scientific, and Technical Services | - | - | - |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $839,904 CAD (2023) | |
| Land Assessment | $165,104 CAD (2023) | Total Assessment | $1,005,007 CAD (2023) |
