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Murphy Oil 604 Beal Pky 43,000 SF Retail Building Fort Walton Beach, FL 32548 $4,328,627 CAD ($100.67 CAD/SF) 5.25% Cap Rate
INVESTMENT HIGHLIGHTS
- 20-year absolute NNN ground lease featuring 8% rental increases every 5 years
- Ideal location in tax-free state – signalized hard corner with extremely high traffic counts (86,000+ VPD)
- Murphy USA, Inc. (NYSE: MUSA) is one of the largest independent retailers of gasoline products and convenience store merchandise in the country
- Brand-new 2023 build-to-suit construction
- Lease signed by tenant’s primary corporate operating entity – Murphy Oil USA, Inc.
- Nearby Eglin Air Force Base is the largest Air Force base in the world spanning 724 square miles with 19,000+ military personnel on the premises
EXECUTIVE SUMMARY
Long-term 20-year absolute NNN corporate ground lease Murphy Oil featuring 8% rental increases every 5 years and four, 5-year extension options. Subject property is located in Fort Walton Beach – an idyllic coastal city benefiting from nearby Eglin Air Force Base and Florida’s no state income tax status.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
43,000 SF
Building Class
B
Year Built
2023
Price
$4,328,627 CAD
Price Per SF
$100.67 CAD
Cap Rate
5.25%
NOI
$227,222 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
1.00
Lot Size
0.99 AC
Opportunity Zone
Yes
Frontage
75’ on Beal Pky
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 10-2S-24-1010-0001-0010 | Improvements Assessment | $455,366 CAD |
| Land Assessment | $1,500,029 CAD | Total Assessment | $1,955,395 CAD |
PROPERTY TAXES
Parcel Number
10-2S-24-1010-0001-0010
Land Assessment
$1,500,029 CAD
Improvements Assessment
$455,366 CAD
Total Assessment
$1,955,395 CAD
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Murphy Oil | 604 Beal Pky
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