162 Eglin PkwyFort Walton Beach, FL 32548

Property Details for 162 Eglin Pkwy

Year built

2014

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.49 AC

Property size (Sq ft)

4,792 SF

Property type

Retail properties

Property subtype

Other car washes

APN

12-2S-24-0460-0017-004A

APU

122S2404600017004A

Description

This exceptional investment opportunity presents a fee-simple Caliber Car Wash located at 162 Eglin Pkwy NE, Fort Walton Beach, FL 32548. The property boasts 2,373 square feet on a 0.51-acre lot, built in 2014 and renovated in 2021. The property is subject to a 20-year Triple Net (NNN) lease, commencing March 1, 2022, and expiring February 28, 2042, leaving over 17 years remaining. The current annual net operating income (NOI) is $201,816, representing a 5.75% cap rate and a price per square foot of $1,479.07. The lease includes annual rent increases of 1.50%, providing consistent growth potential. The lease is backed by a corporate guarantee from Clydsdale Holdings LLC, adding significant security to this investment. Caliber Car Wash is a rapidly expanding national brand, currently operating over 50 locations across multiple southeastern states. This offering presents a rare chance to acquire a high-performing, long-term NNN leased asset with a strong tenant and significant remaining lease term, offering substantial passive income and appreciation potential. The property's location in Fort Walton Beach, Okaloosa County, further enhances its desirability. This is a turnkey investment ideal for passive income seekers.

• CAP approach

  CAP return

  Valuation

  6%

  $954,034

  6.5%

  $880,647

  7%

  $817,744

• Comparable approach

  Method

  Valuation

  Relative Method

  $817,316

  Geo Method

  $858,471

• Alternative Use

  Use

  Valuation

  Residential

  $742,859

  Hospitality

  $680,454

  Educational

  $566,130

  Medical

  $585,600

  Retail

  $880,647

Location Insight

City

Fort Walton Beach

County

Okaloosa

State

Florida

Latitude

30.4206

Longitude

-86.6102

CBSA code

18880

CBSA name

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

Property Tax & Assessments

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