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516 Mary Esther Cutoff
Fort Walton Beach, FL 32548
Aspen Dental - Dunkin (With Drive-thru) · Retail Property For Sale
Investment Highlights
- Two tenant drive-thru investment opportunity featuring Aspen Dental &Dunkin' | tenants operate on triple-net (NNN) leases with 6.4±yrs avg remaining
- Dunkin’ is the largest coffee and donuts brand in the United States with more than 14,000 restaurants in nearly 40 global markets
- Sun Plaza, ±2-minutes from the Property, attracts ±2.6 million visitors annually and is anchored by Publix, Aldi, TJ Maxx, and more (Source: Brixmor)
- Aspen Dental and Dunkin' have operated at this site since 2012 & 2013 | Both tenants exercised 10-year extensions at the end of their initial terms
- The Property has frontage and excellent visibility on a ±1-acre parcel at the lighted intersection of Mary Esther Cut off and Lovejoy Rd (±31,700 VPD)
Executive Summary
CBRE’s Net Lease Property Group is pleased to offer for sale a two-tenant investment opportunity with Aspen Dental and Dunkin’ featuring a drive-thru. Aspen Dental and Dunkin’ operate on triple-net (NNN) leases with a weighted average lease term remaining of ±6.4years. Both tenants have successfully operated at this site for over 13 years and exercised ten (10) year extensions at the end of their initial terms, showcasing their success and commitment to this location.
Fort Walton Beach, FL was named one of Expedia’s international “Destinations of the Year” and sees over 8 million visitors annually. The Property is located on a ±1-acre parcel with excellent visibility and frontage at the lighted intersection of Mary Esther Cut Off and Lovejoy Rd (±31,700 VPD).
Fort Walton Beach, FL was named one of Expedia’s international “Destinations of the Year” and sees over 8 million visitors annually. The Property is located on a ±1-acre parcel with excellent visibility and frontage at the lighted intersection of Mary Esther Cut Off and Lovejoy Rd (±31,700 VPD).
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,050 SF
Building Class
B
Year Built
2012
Price
$3,872,064 CAD
Price Per SF
$766.75 CAD
Cap Rate
6.25%
NOI
$242,004 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.12
Lot Size
1.00 AC
Parking
35 Spaces (6.93 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Freeway Visibility
- Pylon Sign
- Signage
- Drive Thru
Property Taxes
| Parcel Number | 09-2S-24-1860-0014-0070 | Improvements Assessment | $786,075 CAD |
| Land Assessment | $858,698 CAD | Total Assessment | $1,644,773 CAD |
Property Taxes
Parcel Number
09-2S-24-1860-0014-0070
Land Assessment
$858,698 CAD
Improvements Assessment
$786,075 CAD
Total Assessment
$1,644,773 CAD
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