4619 Main StHolt, FL 32564

Property Details for 4619 Main St

Year built

1965

Lot size

0.63 AC

Property size (Sq ft)

5,425 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a newly renovated Shell gas station and Browns Supermarket, situated on a 0.63-acre lot in Holt, Florida. The property boasts 5,425 square feet, including 3,420 net rentable square feet, and features 12 gas pumps and 38 parking spaces. A 20-year absolute NNN lease is in place, with a current NOI of $240,000 and a pro-forma NOI of $319,440, resulting in an 8% current cap rate and a pro-forma cap rate of 10.65%. Rent increases by 10% every 5 years, ensuring significant long-term growth. The lease includes two 5-year options to extend. The property, built in 1965 and renovated in 2024, consists of two single-story buildings and is zoned for supermarket/gas station use. The location is highly advantageous, situated 0.3 miles from Interstate 10, Exit 45, and is the only gas station within a 10-mile radius. The attached Browns Supermarket has operated for over 50 years, and recent renovations include a new canopy, pumps, lighting, signage, and deli counter, with a new checkout counter planned for August 2024. The property also includes a single-family home. The asking price is $3,000,000. Seller financing is available.

Location Insight

City

Holt

County

Okaloosa

State

Florida

Latitude

30.715

Longitude

-86.7477

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