For Sale
$2,869,111.68

123 Hollywood BlvdFort Walton Beach, FL 32548

Florida Auto Shop, NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 6,334 square foot, single-tenant auto shop in Fort Walton Beach, Florida, currently occupied by Safelite AutoGlass under a Net Lease agreement. The property, built in 2006 and renovated in 2023, sits on a 0.582-acre lot and boasts a 6.25% cap rate with a strong NOI of $179,319. The lease, commencing April 26, 2023, and expiring April 26, 2030, includes a 5-year option and features a 3% annual rent increase. Safelite has invested approximately $800,000 in recent improvements. The property benefits from a prime location near Eglin Pkwy SE (37,000 AADT), surrounded by numerous national retailers and restaurants, including Party City, CVS, Dollar Tree, Ulta Beauty, Family Dollar, Waffle House, McDonald's, Chick-fil-A, and Five Guys. The corporate guarantee provides added security, making this a low-risk, high-return investment. The property is zoned CG Commercial and features one single-story building. This is a rare opportunity to acquire a well-located, stable, and high-performing net lease property with a strong tenant and significant upside potential. The asking price is $2,869,111.68.

Highlights

  • $2,869,111.68 asking price for a Net Leased retail property.
  • 6,334 square foot auto shop in Fort Walton Beach, FL.
  • Safelite AutoGlass is the corporate-guaranteed tenant with a 7-year lease (5.4 years remaining).
  • 6.25% cap rate with a $179,319 NOI.
  • Property features a 0.582-acre lot, built in 2006 and renovated in 2023.

Property Details for 123 Hollywood Blvd

Property type
Retail properties, Auto shops
Square Feet
6,334 SF
Year Built/Renovated
2006/2023
Buildings
1
Stories
1
Lot Size (sq. ft)
25,352 SF

Location Insight

City
Fort Walton Beach
County
Okaloosa
State
Florida
Latitude
30.412411878079
Longitude
-86.607410734586
123 Hollywood Blvd, Fort Walton Beach, Florida

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123 Hollywood Blvd
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