203 Government AveNiceville, FL 32578

Property Details for 203 Government Ave

Year built

2020

Construction

STEEL FRAME

Lot size

0.49 AC

Property size (Sq ft)

6,480 SF

Property type

Distribution centers

APN

12-1S-23-1230-0006-0010

APU

121S23123000060010

Description

This exceptional investment opportunity presents a 4,800 square foot, single-tenant net-leased veterinary clinic in Niceville, Florida. The property boasts a new 15.3-year lease (commencing October 1, 2024, and expiring December 31, 2039) with a corporate-guaranteed tenant. The building, constructed in 2020 and renovated in 2024, sits on a 0.36-acre lot and features a 10% rent increase every five years. The current annual net operating income (NOI) is $179,520, resulting in a compelling 6.65% capitalization rate. Located at 203 Government Ave, Niceville, FL 32578, this high-visibility property benefits from its position on a busy thoroughfare with strong traffic counts (47,500 VPD on John Simms Pkwy and 22,350 VPD on Government Ave). The lease includes options for renewal, and the landlord is responsible for roof and structure maintenance. The property's strong demographics, with an average household income of $116,294 within a three-mile radius, further enhance its investment appeal. This is a turnkey investment with a stable, creditworthy tenant and significant long-term growth potential. The asking price is $2,699,000, translating to $562.29 per square foot. The property's location offers excellent visibility and accessibility, making it an attractive proposition for discerning investors seeking a secure, high-return investment in the thriving Florida market.

Location Insight

City

Niceville

County

Okaloosa

State

Florida

Latitude

30.5181

Longitude

-86.5028

CBSA code

18880

CBSA name

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

Property Tax & Assessments

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