The Commons @ Crystal Beach 4635 Gulfstarr Dr
15,000 SF 100% Leased Office Building Destin, FL 32541 $6,028,746 CAD ($401.92 CAD/SF) 5.60% 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
2005
Price
$6,028,746 CAD
Price Per SF
$401.92 CAD
Cap Rate
5.60%
NOI
$337,610 CAD
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 Numbers | Improvements Assessment | $1,887,171 CAD | |
| Land Assessment | $1,556,788 CAD | Total Assessment | $3,443,960 CAD |
