Sunset Promenade | 1598 S County Hwy 393
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Sunset Promenade 1598 S County Hwy 393
8,959 SF 100% Leased Retail Building Santa Rosa Beach, FL 32459 $6,200,000 ($692/SF) 5.01% Cap Rate
Executive Summary
Prime Location: Situated in the thriving Santa Rosa Beach area, this property offers exceptional visibility and accessibility along South County Highway 393—a key artery that sees consistent traffic flow. The site benefits from its proximity to popular destinations along 30A, attracting both tourists and local residents.
High-Demand Retail Corridor: The property is strategically positioned within a rapidly expanding retail corridor, surrounded by established
national brands, boutique shops, and high-end residential communities. Its location caters to the increasing demand for retail and service offerings in this sought-after Gulf Coast market.
High-Income: Santa Rosa Beach is known for its high-income households and affluent residential communities, providing a solid customer base for retail and service-oriented tenants. The property is well-positioned to cater to the needs of both permanent residents and seasonal visitors.
Robust Tourism & Year-Round Appeal: Santa Rosa Beach is part of the 30A corridor, renowned for its stunning beaches, upscale shopping, and vibrant dining scene. The area draws tourists year-round, offering an excellent environment for retail tenants to thrive.
Area Growth and New Developments: The ongoing development in the surrounding area, including new residential projects and expanding commercial hubs, further enhances the investment potential of this asset. The property stands to benefit from the increased demand and economic activity in this rapidly growing market.
Triple Net Lease Structure: The property's triple net (NNN) lease structure provides a stable income stream with minimal landlord responsibilities, making it an ideal addition to a passive investor's portfolio.
High-Demand Retail Corridor: The property is strategically positioned within a rapidly expanding retail corridor, surrounded by established
national brands, boutique shops, and high-end residential communities. Its location caters to the increasing demand for retail and service offerings in this sought-after Gulf Coast market.
High-Income: Santa Rosa Beach is known for its high-income households and affluent residential communities, providing a solid customer base for retail and service-oriented tenants. The property is well-positioned to cater to the needs of both permanent residents and seasonal visitors.
Robust Tourism & Year-Round Appeal: Santa Rosa Beach is part of the 30A corridor, renowned for its stunning beaches, upscale shopping, and vibrant dining scene. The area draws tourists year-round, offering an excellent environment for retail tenants to thrive.
Area Growth and New Developments: The ongoing development in the surrounding area, including new residential projects and expanding commercial hubs, further enhances the investment potential of this asset. The property stands to benefit from the increased demand and economic activity in this rapidly growing market.
Triple Net Lease Structure: The property's triple net (NNN) lease structure provides a stable income stream with minimal landlord responsibilities, making it an ideal addition to a passive investor's portfolio.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
8,959 SF
Building Class
C
Year Built
2004
Price
$6,200,000
Price Per SF
$692
Cap Rate
5.01%
NOI
$310,829
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.23
Land Acres
0.91 AC
Zoning
Commercial - Retail commercial office space
Parking
54 Spaces (6 Spaces per 1,000 SF Leased)
Frontage
203 FT on S County Hwy 393
Amenities
- Signage
- Tenant Controlled HVAC
PROPERTY TAXES
Parcel Number | 03-3S-20-34000-022-0350 | Improvements Assessment | $0 |
Land Assessment | $0 | Total Assessment | $827,962 |
PROPERTY TAXES
Parcel Number
03-3S-20-34000-022-0350
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$827,962
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Sunset Promenade | 1598 S County Hwy 393
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