For Sale
$2,869,111.68

123 Hollywood Blvd Fort Walton Beach, FL 32548

Florida Auto Shop, NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
135
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

FAQs

What type of property is this?
Retail property - Florida Auto Shop, NNN Lease
Where is the retail property located?
The property is located at 123 Hollywood Blvd Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $2,869,111.68.
What are key features of this property?
This property features: $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).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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123 Hollywood Blvd
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