Drive-Through Net Lease
516 Mary Esther Cut Off Northwest Fort Walton Beach, FL 32548
516 Mary Esther Cut Off Northwest, Fort Walton Beach, FL, 32548
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For Sale
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Two-tenant NNN investment with a drive-thru, including Aspen Dental and Dunkin, plus 6.4 years weighted average term remaining.
Property Size5,050 SF
Price / SF$544.95
Days on Market24
Property Features for 516 Mary Esther Cut Off Northwest
General Information
- Standard status
- Active
- Size
- 5,050 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2012
Listing agency
CBRE - Orlando
(631) 903-7137
Listed by
Andrew Jaworski · License #Sl3405473
Source
Crexi
Added: Jun 30 Updated: Jul 22 at 6:33PM Checked: Jul 22 at 6:33PM
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 CBRE - Orlando
Investment Insights
Based on property information with market context.
This two-tenant net lease investment features Aspen Dental and Dunkin, both operating on triple-net (NNN) leases. The weighted average lease term remaining is approximately 6.4 years. Each tenant has operated at the site for more than 13 years and exercised ten (10) year extensions at the end of their initial terms.
The property is located on an approximately one-acre parcel with excellent visibility and frontage at the lighted intersection of Mary Esther Cut Off and Lovejoy Rd. The site reports approximately 131,700 vehicles per day, supporting strong commercial exposure.
The offering includes a total building size of about 5,050 square feet and is presented as a drive-thru investment opportunity with established, long-term tenants.
The property is located on an approximately one-acre parcel with excellent visibility and frontage at the lighted intersection of Mary Esther Cut Off and Lovejoy Rd. The site reports approximately 131,700 vehicles per day, supporting strong commercial exposure.
The offering includes a total building size of about 5,050 square feet and is presented as a drive-thru investment opportunity with established, long-term tenants.
Key Highlights
- Two‑tenant net lease investment with Aspen Dental and Dunkin, each on triple‑net (NNN) leases
- Weighted average lease term remaining of 6.4 years
- Both tenants have operated at the site for 13+ years and exercised 10‑year extensions
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $187.3k | $37.08 |
| − Vacancy | −$5.6k | −$1.11 |
| EGI | $181.6k | $35.97 |
| − OpEx | −$45.4k | −$8.99 |
| NOI | $136.2k | $26.98 |
5,050 SF · lease $37.08/SF/yr · vacancy 3.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.95M
$1.70M – $2.27M
NOI $136,227 @ 7.0% cap · market cap 4.95%
Second Best
Office B
$931.7K
$815.3K – $1.09M
NOI $65,221 @ 7.0% cap · market cap 2.37%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Aspen Dental - Fort ...
Dental Office
Miller Trevor E ...
Dental Office
Gonzalez Michelle R ...
Dental Office
Rajiv Tuladhar
Dental Office
Motto Clear Aligners
Dental Office
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FAQs
What type of property is this?
NNN property - Two-tenant NNN investment with a drive-thru, including Aspen Dental and Dunkin, plus 6.4 years weighted average term remaining.
Where is this nnn property located?
The property is located at 516 Mary Esther Cut Off Northwest Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $2,752,000.
What are key features of this property?
This property features: Two‑tenant net lease investment with Aspen Dental and Dunkin, each on triple‑net (NNN) leases; Weighted average lease term remaining of 6.4 years; Both tenants have operated at the site for 13+ years and exercised 10‑year extensions
