Navarre Parkway Retail Investment
For Sale
Contact for pricing
6863 Navarre Pkwy, Navarre, FL
Retail property with long-term lease and high visibility.
Property Size5,626 SF
Lot Size0.71 Acres
Price / SF$414.96
Days on Market482
Property Features for 6863 Navarre Pkwy
General Information
Standard status
Active
Size
5,626 SF
Lot size
0.71 Acres
Property subtype
RETAIL
Listing Agency:
Matthews Real Estate Investment Services | Fort Lauderdale
(561) 767-5582
Listed By:
Daniel Gonzalez · License #SL3507121(FL)
(561) 767-5582
Source:
Moodyscre
Added: Apr 9, 2025
Changed: Jul 6
Last Checked: Jul 22 at 4:03AM
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 Matthews Real Estate Investment Services | Fort Lauderdale
Investment Insights
Based on property information with market context.
This retail property features a long-term lease with approximately 8 years remaining on the base term, extending until March 2033, and includes two additional five-year extension options. The property benefits from its location on Navarre Parkway (U.S. Highway 98), a major thoroughfare with a high daily traffic count of approximately 42,500 vehicles per day. U.S. Highway 98 serves as a key east-west corridor from Alabama to Florida’s east coast, providing exceptional visibility and accessibility. Positioned at a signalized intersection, the property offers full access with right-in, right-out, left-in, and left-out turning movements. The surrounding area of Navarre is experiencing rapid development, with multiple site plans approved for 2024 and 2025, including a new McDonald’s, a Holiday Inn Express, Chipotle, Soundview Point Villas, Panera, and Zoomies Pet Hotel. The property is suitable for cannabis dispensary tenants, who are less likely to relocate due to restrictive zoning regulations. The property is located in Florida, a state with no state income tax.
Key Highlights
- Long‑term lease with approximately 8 years remaining on the base term, extending to March 2033, plus two 5‑year extension options.
- High visibility location with prime frontage on Navarre Parkway (U.S. Highway 98), experiencing high daily traffic (±42,500 VPD).**
- Strategic positioning at a signalized intersection, providing full access for customers.
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 | $106.7k | $18.96 |
| − Vacancy | −$7.6k | −$1.35 |
| EGI | $99.1k | $17.61 |
| − OpEx | −$24.8k | −$4.40 |
| NOI | $74.3k | $13.21 |
5,626 SF · lease $18.96/SF/yr · vacancy 7.10% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.06M
$929.0K – $1.24M
NOI $74,322 @ 7.0% cap · market cap 3.18%
Second Best
Retail
$864.8K
$756.7K – $1.01M
NOI $60,538 @ 7.0% cap · market cap 2.59%
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $96,974 @ 7.0% cap · market cap 4.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
16k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 86%
Hotels & Casinos 14%
Tom Thumb Food Stores
Shops & Services
13,469 visits/mo
0.4 miles
Hampton Inn & Suites Hotel Navarre
Hotels & Casinos
2,137 visits/mo
0.1 miles
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drug store - Retail property with long-term lease and high visibility.
Where is this drug store located?
The property is located at 6863 Navarre Pkwy Navarre, FL.
What is the asking price?
The asking price for this property is $2,334,563.
What are key features of this property?
This property features: Long‑term lease with approximately 8 years remaining on the base term, extending to March 2033, plus two 5‑year extension options.; High visibility location with prime frontage on Navarre Parkway (U.S. Highway 98), experiencing high daily traffic (±42,500 VPD).**; Strategic positioning at a signalized intersection, providing full access for customers.
