For Sale
$3,285,000

564 Beal PkwyFort Walton Beach, FL 32548

High-Traffic Location, Strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 2,824 square foot Murphy USA convenience store and gas station located at 564 Beal Pkwy, Fort Walton Beach, FL 32548. The property sits on a 0.99-acre lot at a high-traffic intersection (70,000+ vehicles per day), boasting a 20-year absolute NNN ground lease with a corporate guarantee from Murphy USA, a leading retailer with over $25.45 billion in revenue. The lease commenced November 12, 2023, and includes four 5-year renewal options, ensuring long-term stability. Rent increases by 8% every five years, providing significant growth potential. The property features a 5.00% cap rate and a strong net operating income (NOI) of $164,250. Built in 2023, this modern facility benefits from its prime location near major national retailers such as Walmart, Publix, Sam's Club, Lowe's, Home Depot, Whataburger, and Starbucks. The affluent area boasts average household incomes exceeding $90,000 within a 1, 3, and 5-mile radius, with over $100,000 in the immediate trade area. This is a rare opportunity to acquire a high-performing, low-maintenance investment property in a thriving market. The ground lease expires November 12, 2043. The asking price is $3,285,000, representing a price per square foot of $1,163.24. The property is currently 100% occupied.

Highlights

  • 2023-built, 2,824+/- SF building on a 0.99+/- acre lot.
  • 20-year absolute NNN ground lease with 8% rent increases every 5 years, plus four 5-year renewal options.
  • High-traffic location at the signalized intersection of Beal Pkwy (51,300 VPD) and Mary Esther Cut Off NW (19,200 VPD).
  • Excellent proximity to national retailers including Walmart, Publix, Sam's Club, Lowe's, Home Depot, Whataburger, and Starbucks.
  • Affluent area with average household incomes exceeding $90,000 within a 1-3-5 mile radius, and over $100,000 in the immediate trade area.
  • Tenant is Murphy USA, a leading gasoline and convenience store retailer with over $25.45B in revenue.

Property Details for 564 Beal Pkwy

Property type
Retail properties, Retail space
Square Feet
2,824 SF
Year Built
2023
Lot Size (sq. ft)
43,124 SF

Location Insight

City
Fort Walton Beach
County
Okaloosa
State
Florida
Latitude
30.4284228
Longitude
-86.6389114
564 Beal Pkwy, Fort Walton Beach, Florida

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564 Beal Pkwy
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