Profitable C-Store & Restaurant
For Sale
Contact for pricing
180 Mary Esther Blvd, Mary Esther, FL 32569
Fully operational C-Store and restaurant with long-term tenants.
Property Size5,196 SF
Price / SF$538.88
Days on Market148
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Property Features for 180 Mary Esther Blvd
General Information
Standard status
Active
Size
5,196 SF
Property subtype
Retail
Zoning
C1 | Commercial
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Sale/Leaseback
Net Operating Income
$210,000
Building Details
Year Built
2013
Year Renovated
2026
Tenancy
Multi
Listing Agency:
Bay City Realty
Listed By:
Mehdi Moeini, CCIM, CPM, MiCP · License #Florida BK3464565
(850) 380-0877
Source:
Crexi
Added: May 21
Changed: Oct 13
Last Checked: Oct 14 at 10:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bay City Realty
Investment Insights
Based on property information with market context.
This property at 180 Mary Esther Parkway presents an opportunity to acquire a fully operational convenience store and PITA Mediterranean Street Food restaurant. The property is located in Mary Esther, a coastal community with a significant military presence and a local consumer base. The seller will execute a sale-leaseback at closing, providing the buyer with a fully occupied asset. Both tenants will execute new 10-year NNN leases at closing. The property is offered at a 7% cap rate on $210,000 net operating income. Situated on Mary Esther Boulevard, also known as the Mary Esther Cutoff, the site benefits from high vehicle traffic. The property was recently renovated in 2025 and operates as an unbranded retail location. Mary Esther, Florida, is known for its coastal location, affordability, and proximity to military bases, functioning as a community-focused suburb with access to Emerald Coast tourist hubs. The property size is 5196 square feet.
Key Highlights
- Fully operational C‑Store and PITA Mediterranean Street Food business with immediate, stabilized cash flow.
- Excellent 7% cap rate on $210,000 NOI.
- New 10‑year NNN leases executed at closing, providing a passive, management‑free investment structure.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$140,166
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,803,320
$2.8M
Cap Rate 7%
$2,002,371
$2.0M
Cap Rate 9%
$1,557,400
$1.6M
Market Conditions
NOI Build-Up for 5,196 SF
Gross rent
$192.7K $37.08/SF
− Vacancy
−$5.8K −$1.11/SF
EGI
$186.9K $35.97/SF
− OpEx
−$46.7K −$8.99/SF
NOI
$140.2K $26.98/SF
Area
Okaloosa County, FL
Vacancy
3.00%
Lease Rate
$37.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,803,320
Cap Rate 7%
$2,002,371
Cap Rate 9%
$1,557,400
Alternative Uses
Best Use
Specialty Retail
$2.00M
$1.75M – $2.34M
NOI $140,166 @ 7.0% cap · market cap 5.01%
Second Best
Retail
$1.07M
$933.6K – $1.24M
NOI $74,690 @ 7.0% cap · market cap 2.67%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
757
Businesses Nearby
233k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 34%
Shops & Services 29%
Dining 18%
Groceries 7%
Target
Superstores
79,532 visits/mo
0.3 miles
Dollar Tree
Shops & Services
22,958 visits/mo
0.1 miles
Piggly Wiggly
Groceries
17,043 visits/mo
0.2 miles
Murphy USA
Shops & Services
12,720 visits/mo
0.1 miles
Starbucks
Dining
12,553 visits/mo
0.4 miles
Demographics for 32569, FL
12,378
Population
5,795
Households
2.1
Avg Household Size
38
Median Age
40%
College-Educated
95%
High-School Grad
4.2 sq mi
ZIP Area
2,947
Density / Sq Mi
$73,762
Median Household Income
$43,832
Median Earnings
$1,456
Median Rent
$296,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Target Grocery — 250 E Miracle Strip Pkwy, Mary Esther, FL 32569
- Piggly Wiggly — 251 Mary Esther Blvd, Mary Esther, FL 32569
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Fully operational C-Store and restaurant with long-term tenants.
Where is this grocery and convenience store located?
The property is located at 180 Mary Esther Blvd Mary Esther, FL.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Fully operational C‑Store and PITA Mediterranean Street Food business with immediate, stabilized cash flow.; Excellent 7% cap rate on $210,000 NOI.; New 10‑year NNN leases executed at closing, providing a passive, management‑free investment structure.
