14,500 SF Mixed Use Income Property, Destin, FL 32541 (MLS# 937982)

14,500 SF Mixed Use Income Property, Destin, FL 32541

$2,227,500

Rear Mixed use bldg. (4 units up / 4 units down)

Property Type: Commercial for Sale Lot Size (sq. ft.): 31,363 Status: Sold

Current Price: $2,227,500 List Date: 7/10/2024 Last Modified: 12/05/2024

Overview

Description

VALUE ADD OPPORTUNITY ~ Available for purchase ~ 14,500 SF mixed use income producing property. This property consists of two 7,000 SF (+/-) buildings with 12 units on .72 acres. The front building is 5000 SF office / retail space with an adjacent 2,000 SF warehouse. The rear building is 7,500 SF two story brick building with 10 units (5 up/ 5 down) consisting of 3 residential 1 bedroom apartments, 2 office units and 5 retail units. This property is centrally located in Destin along Main Street just north of the Post Office and the new Publix Shopping Center. This property has many leases under market value and with the addition of Publix nearby, I feel rents will be climbing well into the future. Parking lot will be resurfaced very soon.

Listing Details MLS# 937982

Status Change Info

Under Contract Date: 2024-09-22
Sold Date: 2024-12-04

Contract Info

GCCMLS Number: 30862807
Listing Board: Emerald Coast

Location Tax and Legal

Area: 14 - Destin
Street #: 14,500 SF
Street Name: Mixed Use Income Property
State: FL
Zip Code: 32541
County: Okaloosa
Parcel ID: 00-2S-22-1350-000A-0060

General Property Info

Listed on GCCMLS: Yes
Vacant: No
Immediate Occupancy: No
Acreage: 0.72
Lot Frontage: 100
Lot Depth: 315
Zoning: TC Mixed Use

Income Producing

Building SqFt: 14500
Annual Gross Income: 232138
Expenses: 56760
Net Operating Income: 175378
Cap Rate: 7

More Information

Multi-Family

# of Units: 12

Office

Year Built: 1986
Building SqFt: 14600
# of Units: 10

Retail

# of Units: 10

Location, Tax and Legal

Sub Area: 1403 - Destin Northwest
Legal Description: KELLY HOMES S/D LOTS 6 & 7 & S 50 FT OF LOT 33 & N 50 FT OF LOT 3 4 BLK A 980-449 & PART OF VACATED R/W JOINING PROP

Listing Info, Tax & Legal

As Is: Yes

Remarks & Misc

Remarks: VALUE ADD OPPORTUNITY ~ Available for purchase ~ 14,500 SF mixed use income producing property. This property consists of two 7,000 SF (+/-) buildings with 12 units on .72 acres. The front building is 5000 SF office / retail space with an adjacent 2,000 SF warehouse. The rear building is 7,500 SF two story brick building with 10 units (5 up/ 5 down) consisting of 3 residential 1 bedroom apartments, 2 office units and 5 retail units. This property is centrally located in Destin along Main Street just north of the Post Office and the new Publix Shopping Center. This property has many leases under market value and with the addition of Publix nearby, I feel rents will be climbing well into the future. Parking lot will be resurfaced very soon.

Class

Income Producing: Yes
Multi-Family: Yes
Office: Yes
Retail: Yes

Construction Status

Existing: Yes

Property Features

Class: Income Producing; Multi-Family; Office; Retail Construction Status: Existing

Listing Office: Taylor Allen Properties LLC

Last Updated: December - 05 - 2024

All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.