GOODYEAR | Prime Retail Location on the Gulf Coast | 10 year lease
8460 Navarre Parkway, Navarre, FL
For Sale
Retail
Free Standing
$2,026,000
Price
6%
Cap Rate
$121,560
NOI
Overview
Cap Rate
6%
NOI
$121,560
Building Size
6,400 sqft
Lot Area
0.96 acres
Lease Type
Double Net
Year Built
2002
Lease Expire Year
2033
Highlights
- Recently extended 10 year lease with mid term bump.
- Prominent location along U.S. Route 98 with traffic counts above 47,000 VPD
- Prime retail location on the Gulf Coast less than one mile from top notch white sand beaches, shopping, and restaurants
- High-growth tourist destination with over 4.5 Million annual visitors
- Income-tax free state
- Minimal LL responsibilities with a roof that was recently recoated in 2021 (LL has roof and structure only)
- Goodyear has over 2,000 locations and is one of the auto repair shops and tire companies in the world.
- Resistant to economic downturn or pandemic disruption
- Updated, clean 3rd parts reports including Survey & Phase 1
- Average annual household income of $104,233 within a five mile radius with projection to grow by over 15% in the next 3 years.
- COST SEG - ask broker for details on an estimated 23% year one tax write off for depreciation.
Documents
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Offering Memorandum
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