123 Hollywood BlvdFort Walton Beach, FL 32548

Property Details for 123 Hollywood Blvd

Year built

2006

Construction

STEEL FRAME

Lot size

0.37 AC

Property size (Sq ft)

6,624 SF

Property type

Retail space

APN

13-2S-24-2030-0002-00K0

APU

132S242030000200K0

Description

This exceptional investment opportunity presents a 6,334 square foot, single-tenant auto shop in Fort Walton Beach, Florida, currently occupied by Safelite AutoGlass under a Net Lease agreement. The property, built in 2006 and renovated in 2023, sits on a 0.582-acre lot and boasts a 6.25% cap rate with a strong NOI of $179,319. The lease, commencing April 26, 2023, and expiring April 26, 2030, includes a 5-year option and features a 3% annual rent increase. Safelite has invested approximately $800,000 in recent improvements. The property benefits from a prime location near Eglin Pkwy SE (37,000 AADT), surrounded by numerous national retailers and restaurants, including Party City, CVS, Dollar Tree, Ulta Beauty, Family Dollar, Waffle House, McDonald's, Chick-fil-A, and Five Guys. The corporate guarantee provides added security, making this a low-risk, high-return investment. The property is zoned CG Commercial and features one single-story building. This is a rare opportunity to acquire a well-located, stable, and high-performing net lease property with a strong tenant and significant upside potential. The asking price is $2,869,111.68.

• CAP approach

  CAP return

  Valuation

  6%

  $1,318,765

  6.5%

  $1,217,322

  7%

  $1,130,370

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,129,780

  Geo Method

  $1,186,668

• Alternative Use

  Use

  Valuation

  Residential

  $1,026,856

  Hospitality

  $940,595

  Educational

  $782,564

  Medical

  $809,477

  Retail

  $1,217,322

Location Insight

City

Fort Walton Beach

County

Okaloosa

State

Florida

Latitude

30.4127

Longitude

-86.6073

CBSA code

18880

CBSA name

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

Property Tax & Assessments

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