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Murphy Oil

$3,285,000

604 Beal Parkway, Fort Walton Beach, FL 32548

Active
Last Updated: 01/21/2025

5

Cap Rate

164,250

NOI

Details:
Cap Rate:    5%
NOI:    $164,250
Lot Area:    43,000 sqft
Lease Type:    Ground
Year Built:    2023
Tenancy:    Single
Parking Spots:    19
Highlights:
  • 20-year absolute NNN ground lease featuring 8% rental increases every 5 years
  • Brand-new 2023 build-to-suit construction
  • Ideal location in tax-free state – signalized hard corner with extremely high traffic counts (86,000+ VPD)
  • Lease signed by tenant’s primary corporate operating entity – Murphy Oil USA, Inc.
  • Murphy USA, Inc. (NYSE: MUSA) is one of the largest independent retailers of gasoline products and convenience store merchandise in the country with over 1,700 locations in 27 states
  • 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
  • Subject property just down the street from Sun Plaza – a 250,000+ SF shopping center anchored by Publix and T.J. Maxx
Description:

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.

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Documents:
Title
MurphyOil_FortWaltonBeachFL.pdf
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