1310 US Highway 331 S
Defuniak Springs, FL 32435

Shadow Anchored by a busy, large trade area Wal-Mart Supercenter, 2006 built, approximately 16,000 square foot, six-tenant DeFuniak Commons is well located along US Hwy 331, within one mile north of high traffic Interstate 10.  About 80% of the center is national tenants.  About 65% of the space has retailers with tenure over 10 years.  Except Fast Lane Computers and America' s Mattress, all other tenants have been at the center since it was built.  Priced at about 7.05% Cap, at $186 price per square foot, the center makes for steady growth, stable long term investment. Referring to sales comps on page 33, the subject property is the second lowest in terms of price per square foot.  Major tenants in the center include The Shoe Show, Beef O Brady's, Advance America, America' s Mattress (with Rent-A-Center lease guarantee).   Rent-A-Center took advantage of below market rent (30% below market) to sublease their space to America' s Mattress.  The center is fully leased with built-in rent increases.  215 stores strong Beef' O' Brady' s is a franchisee restaurant with option for the corporation to take over the location under tenant default. The property is located on US Highway 331, approximately one mile from US 10 which is the main thoroughfare between Jacksonville and Pensacola FL. DeFuniak Springs, FL, is located between two metro areas, Crestview-Fort Walton Beach-Destin area and Panama City whose main economies are driven by the military and tourism. The site has excellent visibility and signage along US Hwy 331 with direct access to Wal-Mart. Nearby Retailers Include: Wal-Mart Supercenter, Winn-Dixie, Tractor Supply, Dollar Tree, Cato, Walgreens, Hibbett Sporting Goods, Goody's, Lowe's, Arby's, Waffle House, Aaron's, Family Dollar, AutoZone, UPS, Regions Bank, Suntrust Bank, Burger King, McDonald' s, And More. Walton is one of the fastest growing counties in the United States. Its population grew more than 30 per cent between the censuses of 2000 and 2010, when it stood at 55,043. The surge of new development following the recent recession, coupled with military deployments at Eglin Air Force Base and Hurlbert Field, has pushed the county's population to an estimated 58,000 by 2013. The tourism and hospitality industry leads the County's major employment sectors.at 23.4 per cent of the workforce.