1400 Main StBells Mill, FL 32428

Property Details for 1400 Main St

Year built

2009

Lot size

0.73 AC

Property size (Sq ft)

4,205 SF

Property type

Retail properties

Property subtype

Office properties

Description

This single-tenant, 4,205 square foot medical office building in Chipley, Florida, presents a compelling investment opportunity. Located at 1400 Main St, this fee-simple property boasts a 15-year net lease (NN) with a corporate guarantee, providing a stable and predictable income stream. The current lease, commencing September 20, 2019, and expiring September 30, 2034, has approximately 9.9 years remaining. The tenant, a national eye care operator, enjoys 100% occupancy, generating a substantial net operating income (NOI) of $111,423 annually, representing a 7.50% cap rate. Built in 2009, this one-story building sits on a 0.73-acre lot and benefits from a 2% annual rent increase. The property's strategic location, adjacent to Northwest Florida Community Hospital and near major retailers like Tractor Supply and McDonald's, ensures high visibility and accessibility. Lease options include 3 and 5-year extensions. The asking price is $1,485,650, translating to $353.31 per square foot. This investment offers a secure, long-term passive income opportunity in a growing Florida market.

Location Insight

City

Bells Mill

County

Washington

State

Florida

Latitude

30.6824

Longitude

-85.5612

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