4758 Us-90Pace, FL 32571

Property Details for 4758 Us-90

Year built

2024

Lot size

1.60 AC

Property size (Sq ft)

6,000 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a 6,000-square-foot LongHorn Steakhouse located in Pace, Florida, on a 1.6-acre lot. The property boasts a new 10-year absolute NNN ground lease commencing January 15, 2025, and expiring January 15, 2035. The lease includes rent bumps, ensuring consistent income growth. The property's strong financial performance is reflected in a $150,000 annual net operating income (NOI) and a 5.00% cap rate. The asking price is $3,000,000, making it an attractive proposition for 1031 exchange investors. Situated on US-90, a major thoroughfare with over 33,000 vehicles daily, the restaurant benefits from high visibility and accessibility. The location is surrounded by dense residential areas and other national retailers, including Walmart, Lowe's, Home Depot, Target, and Publix. Its proximity to Naval Air Station Pensacola and Eglin Air Force Base provides access to a large military population. The surrounding area also includes the University of West Florida and Pace High School, contributing to a strong local demographic with average household incomes exceeding $100,000 within a five-mile radius. The building was constructed in 2024. This prime location and long-term lease make this a compelling investment opportunity in a thriving Florida market.

Location Insight

City

Pace

County

Santa Rosa

State

Florida

Latitude

30.6036

Longitude

-87.1253

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