20 Ready AveFort Walton Beach, FL 32548

Property Details for 20 Ready Ave

Year built

1990

Construction

STEEL FRAME

Lot size

1.24 AC

Property size (Sq ft)

25,991 SF

Property type

Industrial properties

Property subtype

Manufacturing properties

APN

17-2S-24-0000-0001-0240

APU

172S24000000010240

Description

This exceptional investment opportunity presents a stabilized industrial property located at 20 Ready Ave NW, Fort Walton Beach, FL 32548. The property encompasses a single, 35,594 square foot building situated on a 2.92-acre lot. Built in 1990, the structure currently serves as a kitchen and bath center manufacturing and distribution warehouse, operating under a triple net (NNN) lease with a single tenant. The lease commenced January 1, 2023, and expires December 31, 2025, with three 3-year renewal options. The current lease term has 1.1 years remaining. The property boasts a strong 7.56% capitalization rate and a net operating income (NOI) of $147,407. The asking price is $1,950,000. The property is zoned CTP and enjoys excellent accessibility from Ready Ave, near the intersection of Hill Ave NW (21,500 AADT) and Hollywood Blvd NW (18,500 AADT). The property's APN is 17-2S-24-0000-0001-0240. This is a rare opportunity to acquire a high-performing, fully occupied industrial asset in a desirable location. The 100% occupancy ensures immediate cash flow, making this an attractive investment for discerning buyers.

• Alternative Use

  Use

  Valuation

  Residential

  $4,029,140

  Hospitality

  $3,690,670

  Educational

  $3,070,594

  Medical

  $3,176,197

  Retail

  $4,776,480

Location Insight

City

Fort Walton Beach

County

Okaloosa

State

Florida

Latitude

30.415

Longitude

-86.671

CBSA code

18880

CBSA name

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

Property Tax & Assessments

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