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431 Racetrack Rd Nw 5,670 SF Flex Building Fort Walton Beach, FL 32547 $1,042,702 CAD ($183.90 CAD/SF) 8.32% Cap Rate
Investment Highlights
- 4 year initial lease with regional tenant
- 3% annual increases to the base rent
Executive Summary
Freestanding, Income producing asset occupied by Wesco Gas. They are a successful regional tenant servicing Propane Gas needs for the area. They have 12 total stores under management in the Southeast. Highly visible location along Racetrack Road in Fort Walton Beach, FL. This freestanding building has great curb appeal and is very functional for many different business types. Glass storefront with open showroom, new LVP flooring, several offices, kitchen/ break area, 2 restrooms and rear warehouse with two roll up doors. Nice amount of parking to allow for large trucks & trailers. Fenced in rear lot for outdoor storage. Building make up is roughly 2,500 SF showroom / office and 3,000 SF warehouse.
Property Facts
| Price | $1,042,702 CAD | Lot Size | 0.36 AC |
| Price Per SF | $183.90 CAD | Rentable Building Area | 5,670 SF |
| Sale Type | Investment NNN | No. Stories | 1 |
| Cap Rate | 8.32% | Year Built | 1994 |
| Property Type | Flex | Tenancy | Single |
| Building Class | B | No. Drive In / Grade-Level Doors | 2 |
| Price | $1,042,702 CAD |
| Price Per SF | $183.90 CAD |
| Sale Type | Investment NNN |
| Cap Rate | 8.32% |
| Property Type | Flex |
| Building Class | B |
| Lot Size | 0.36 AC |
| Rentable Building Area | 5,670 SF |
| No. Stories | 1 |
| Year Built | 1994 |
| Tenancy | Single |
| No. Drive In / Grade-Level Doors | 2 |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 03-2S-24-0000-0039-0000 | Improvements Assessment | $160,398 CAD |
| Land Assessment | $292,310 CAD | Total Assessment | $452,708 CAD |
Property Taxes
Parcel Number
03-2S-24-0000-0039-0000
Land Assessment
$292,310 CAD
Improvements Assessment
$160,398 CAD
Total Assessment
$452,708 CAD
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431 Racetrack Rd Nw
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