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Island Palm Shoppes 16055 Emerald Coast Pky 1,400 - 3,341 SF of Retail Space Available in Destin, FL 32541
HIGHLIGHTS
- Shadow anchored by high-performing Walmart Supercenter (3.6 million annual visits) in the heart of Destin, FL, one of the fastest growing MSAs in USA.
- More than 6700 vacation rental, hotel, and apartment units are located within 2 mi of the property, including new Tru by Hilton Hotel across the st.
- Located at hard, signalized corner along Hwy 98 (55,000 vehicles per day).
- Destin attracts more than 4.5 million annual visitors. Avg household incomes of $127,800 within a 2 mi radius.
SPACE AVAILABILITY (2)
Display Rental Rate as
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 1,400 SF | Negotiable | $39.09 CAD/SF/YR $3.26 CAD/SF/MO $54,720 CAD/YR $4,560 CAD/MO | Triple Net (NNN) | ||
| 1st Floor | 1,941 SF | Negotiable | $41.88 CAD/SF/YR $3.49 CAD/SF/MO $81,284 CAD/YR $6,774 CAD/MO | Triple Net (NNN) |
16055 Highway 98 - 1st Floor
- Lease rate does not include utilities, property expenses or building services
16055 Highway 98 - 1st Floor
Prime end-cap space located adjacent to Walmart Supercenter (#1 retailer in Destin, 3.5 million annual visits per Placer.ai, top 2% in the US). Excellent visibility to traffic going to/from Walmart along access road to immediate north. Signage opportunity on east, north, and west elevations of building exterior. Outdoor seating / patio opportunity included. Island Palm Shoppes' tenants generate 500,000+ annual visits.
- Lease rate does not include utilities, property expenses or building services
- Fully Built-Out as a Restaurant or Café Space
- Highly Desirable End Cap Space
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
SELECT TENANTS AT ISLAND PALM SHOPPES
- TENANT
- DESCRIPTION
- US LOCATIONS
- REACH
- Eyemart Express
- Optical
- 313
- National
- GameStop
- Game Store
- 2,957
- International
- Hertz
- Auto Rental
- 2,544
- International
- Palm Beach Tan
- Tanning Salon
- 867
- National
- Wingstop
- Fast-food
- 2,760
- International
| TENANT | DESCRIPTION | US LOCATIONS | REACH |
| Eyemart Express | Optical | 313 | National |
| GameStop | Game Store | 2,957 | International |
| Hertz | Auto Rental | 2,544 | International |
| Palm Beach Tan | Tanning Salon | 867 | National |
| Wingstop | Fast-food | 2,760 | International |
PROPERTY FACTS
| Total Space Available | 3,341 SF | Frontage | |
| Center Type | Strip Center | Gross Leasable Area | 25,814 SF |
| Parking | 119 Spaces | Total Land Area | 1.38 AC |
| Stores | 16 | Year Built | 2001 |
| Center Properties | 1 |
| Total Space Available | 3,341 SF |
| Center Type | Strip Center |
| Parking | 119 Spaces |
| Stores | 16 |
| Center Properties | 1 |
| Frontage | |
| Gross Leasable Area | 25,814 SF |
| Total Land Area | 1.38 AC |
| Year Built | 2001 |
ABOUT THE PROPERTY
Island Palm Shoppes is conveniently located along Highway 98 (55,000 vehicles per day) at a hard, signalized corner in the heart of Destin, FL, a leading vacation destination which attracts 4.5 million annual visitors. Shadow-anchored by a top-performing Walmart Supercenter (3.6 million annual visits, top ~2% nationally per Placer.ai) and located within 2 miles of more than 6,700 vacation rental, hotel, and apartment units, the Property is an ideal location for any retailer.
- Corner Lot
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Monument Signage
- Air Conditioning
NEARBY MAJOR RETAILERS
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Island Palm Shoppes | 16055 Emerald Coast Pky
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