301 Monument AvePort St. Joe, FL 32456

Property Details for 301 Monument Ave

Year built

1952

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.22 AC

Property size (Sq ft)

4,376 SF

Zone code

C1

Property type

Retail properties

Property subtype

Retail space

APN

04710-000R

APU

04710000R

Description

This exceptional 3,600 square foot shopping center in Port St. Joe, Florida, presents a compelling investment opportunity. Located at 301 Monument Ave, this single-story, Class C property sits on a 14,400 square foot lot and boasts 100% occupancy with four tenants under long-term leases. The current annual net operating income (NOI) is $94,200, yielding a 5.89% cap rate, with a pro-forma NOI of $97,000 and a pro-forma cap rate of 6.06%. The asking price is $1,600,000, translating to $444.44 per square foot. Tenants include a restaurant, vape store, and two additional businesses, generating a stable monthly income of $8,700. The property underwent a complete renovation in 2019, featuring central air conditioning, four bathrooms, and ducted heat. Annual expenses, including taxes and insurance, total approximately $10,200. The remaining lease term is five years, offering a strong foundation for future growth and potential rent increases. This property is offered for sale by owner and represents a rare chance to acquire a well-maintained, high-performing retail asset in a desirable location. The property features four units within a single building.

• CAP approach

  CAP return

  Valuation

  6%

  $1,331,610

  6.5%

  $1,229,178

  7%

  $1,141,380

• Comparable approach

  Method

  Valuation

  Relative Method

  $783,946

  Geo Method

  $783,946

• Alternative Use

  Use

  Valuation

  Residential

  $1,036,858

  Hospitality

  $949,756

  Educational

  $790,186

  Medical

  $817,362

  Retail

  $1,229,178

Location Insight

City

Port St Joe

County

Gulf

State

Florida

Latitude

29.8138

Longitude

-85.3039

Property Tax & Assessments

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