36236 Emerald Coast PkwyDestin, FL 32541

Property Details for 36236 Emerald Coast Pkwy

Year built

2008

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.13 AC

Property size (Sq ft)

10,865 SF

Property type

Retail properties

Property subtype

Strip malls

APN

00-2S-22-0101-000C-0670

APU

002S220101000C0670

Description

This exceptional investment opportunity presents The Shoppes of Destiny, a 12,734 square foot, single-story shopping center located at 36236 Emerald Coast Pkwy, Destin, FL 32541. Built in 2008, this mixed-use retail property boasts a 100% occupancy rate with seven units and five tenants, generating a substantial Net Operating Income (NOI) of $407,488. The property is offered at $6,000,000, representing a compelling cap rate of 6.79% and a price per square foot of $471.18. Leases are structured as Triple Net (NNN), minimizing management responsibilities for the owner. The property benefits from 3% yearly rent increases, ensuring consistent revenue growth. Situated in Okaloosa County, this prime location in the heart of Destin guarantees high visibility and consistent foot traffic. The permitted zoning is Mixed Use Retail, allowing for flexibility and potential future expansion. This stabilized investment offers a secure and lucrative return for discerning investors seeking a premier commercial asset in a thriving Florida market. The property is fully stabilized and enjoys a strong tenant base. This is a truly exceptional opportunity to acquire a high-performing retail center in one of Florida's most desirable locations.

• CAP approach

  CAP return

  Valuation

  6%

  $2,163,101

  6.5%

  $1,996,709

  7%

  $1,854,087

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,853,118

  Geo Method

  $1,946,430

• Alternative Use

  Use

  Valuation

  Residential

  $1,684,298

  Hospitality

  $1,542,808

  Educational

  $1,283,598

  Medical

  $1,327,743

  Retail

  $1,996,709

Location Insight

City

Destin

County

Okaloosa

State

Florida

Latitude

30.3861

Longitude

-86.404

CBSA code

18880

CBSA name

CRESTVIEW-FORT WALTON BEACH-DESTIN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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