3582 Us-98Santa Rosa Beach, FL 32459

Property Details for 3582 Us-98

Year built

2023

Lot size

1.11 AC

Property size (Sq ft)

2,304 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a newly constructed (2023) Del Taco restaurant in Santa Rosa Beach, Florida. The property boasts a prime location on US-98, a major thoroughfare with high traffic volume (40,000+ ADT). The 2,304 square foot building sits on a 1.11-acre lot with ample parking (24 spaces). The property is currently 100% occupied under a 20-year absolute NNN lease with Del Taco, a publicly traded company, commencing June 1, 2023, and expiring May 31, 2043. The lease includes four 5-year renewal options, providing significant long-term stability. The corporate guarantee ensures consistent rental income. The asking price is $3,254,545, representing a 5.50% cap rate. This single-tenant, single-story building offers a low-maintenance investment in a rapidly growing area with strong demographics (average household income within a 1-mile radius exceeds $145,562). The location benefits from proximity to Destin and Panama City Beach, attracting significant tourism. Walton County's consistent population growth (5.3% between 2020 and 2021) further enhances the property's long-term value. This is an ideal opportunity for investors seeking a passive income stream in a high-demand location.

Location Insight

City

Santa Rosa Beach

County

Walton

State

Florida

Latitude

30.3743

Longitude

-86.2383

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