604 Beal Pky - Freestanding FOR SALE
Fort Walton Beach, FL 32548 |
$3,285,000 USD
650-678-7200
604 Beal Pky
Fort Walton Beach, FL 32548
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
- 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
OVERVIEW
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.
FOR SALE DETAILS
PRICE
$3,285,000 USD
PRICE/SF
$1,013 USD /SF
CAP RATE
5%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
ON GROUND LEASE
Yes
BUILDING DETAILS
PROPERTY NAME
Murphy Oil
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
ADD'L SUBTYPES
Service Station, Veterinarian/Kennel
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2023
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.99 AC
LAND SF
43,124 SF
ZONING
-
APN/PARCEL ID
-
ASK ABOUT THIS PROPERTY
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650-678-7200
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650-678-7200
By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.
