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FedEx 106 Hill Ave NW

13,360 SF Industrial Building Fort Walton Beach, FL 32548 $1,850,000 ($138/SF) 4.73% Cap Rate

Investment Highlights

  • Located near public transportation.

Executive Summary

Fully leased to FedEx!! NAI KLNB & NAI Mertz, as the exclusive representative
for the owner, is pleased to present the sale offering
of the property known as 104 & 106 Hill Avenue. 104
Hill Ave is a vacant parcel and 106 Hill Ave is currently
utilized as a FedEx shipping center, with the lease in
place from January 30, 2004, to January 31, 2029. It
encompasses 13,360 square feet on 1.38 acres. The
building features brick and metal panel construction
and is equipped with 22 parking spaces, including one
designated for handicap access. The facility includes
four drive-through bays and eight drive-in bays, all
located on the left side of the building. The structure
is approximately 51 feet deep and 35 feet wide, with a
central ceiling height of 19 feet. It has 14-foot clear doors,
as well as 12 x 14-foot clear doors. Additionally, there
is a 10-foot elevated cement middle and four loading
dock bays at the rear of the property, accommodating
28 truck go-throughs. The office area comprises four
private offices, a client counter, a lunchroom, a dispatch
office measuring 22 x 10 feet, an open area of 16 x 20
feet, an 18 x 18-foot customer counter area, and a 10 x
14-foot large box storage area. The men’s restroom has
two urinals and one toilet, while the ladies’ restroom
has two toilets. The building is equipped with 200-plus
amp power. The current tenant, FedEx, plans to vacate
the premises on July 25, 2024.

Property Facts

Price $1,850,000
Price Per SF $138
Sale Type Investment NNN
Cap Rate 4.73%
Property Type Industrial
Property Subtype Distribution
Building Class C
Lot Size 2.98 AC
Rentable Building Area 13,360 SF
No. Stories 1
Year Built 1987
Tenancy Single
Parking Ratio 2.62/1,000 SF
No. Drive In / Grade-Level Doors 8

Amenities

  • Signage
  • Air Conditioning

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 08-2S-24-0000-0002-0080
  • 08-2S-24-0000-0002-0110
Land Assessment
$227,510
Improvements Assessment
$416,616
Total Assessment
$644,126
  • Listing ID: 33533418

  • Date on Market: 10/16/2024

  • Last Updated:

  • Address: 106 Hill Ave NW, Fort Walton Beach, FL 32548

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