123 Hollywood BlvdFort Walton Beach, FL 32548

  • Retail properties
  • 6,624 SF
For Sale
$2,869,111.68 View listing

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 properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
123 Hollywood Blvd, Fort Walton Beach, Florida

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$10,456
$123,152
$626,800
$749,952
-
$123,152
$626,800
$749,952

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].