5720 Highway 85Crestview, FL 32536

Property Details for 5720 Highway 85

Year built

2023

Lot size

1.58 AC

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a newly constructed, 5,200 square foot Circle K convenience store located at 5720 Hwy 85 N, Crestview, FL 32536. Boasting a 15-year absolute NNN lease (commencing October 1, 2023, and expiring October 1, 2038) with a credit-rated tenant, this property offers a secure and stable income stream. The lease includes 5% rent bumps every five years and eight 5-year renewal options. Situated on a 1.58-acre lot with 29 parking spaces, the property benefits from its prime location across from a high-performing Publix-anchored shopping center (ranking in the top 87th percentile nationwide). This strategic placement ensures significant cross-traffic and exposure. The property's proximity to Crestview Marketplace, a Winn-Dixie anchored center, and nearby residential developments further enhances its desirability. The strong local demographics, including a growing population and high average household income (exceeding $101,184 within a 1-mile radius), contribute to the property's exceptional investment potential. The property also benefits from its adjacency to Davidson Middle School. With a 4.74% cap rate and a net operating income (NOI) of $97,200, this Circle K presents a compelling investment opportunity with a strong return. The asking price is $2,050,000. The property features one single-story building built in 2023, and sits on a ground lease. The property's APN is 33-4N-23-0000-0057-0050.

Location Insight

City

Crestview

County

Okaloosa

State

Florida

Latitude

30.7953

Longitude

-86.5578

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