NNN Auto Body
For Sale
$1,371,429
700 Edge St, Fort Walton Beach, FL 32547
Leased collision repair facility with long-term triple-net structure and nearby national retail anchors.
Property Size10,472 SF
Lot Size1.03 Acres
Price / SF$130.96
Days on Market9
Property Features for 700 Edge St
General Information
Standard status
Active
Size
10,472 SF
Lot size
1.03 Acres
Property subtype
Commercial
Lease Term
±6.5 Yrs
Building Details
Building Size
10,472 SF
Buildings
1
Listing Agency:
Matthews Real Estate Investment Services
(858) 351-4196
Listed By:
Noah Sudyka · License #02245562 (CA)
(858) 351-4196
Source:
Matthews
Added: Aug 22
Changed: Aug 30
Last Checked: Aug 30 at 12:00AM
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
Investment Insights
Based on property information with market context.
700 Edge St is an auto body property leased to Classic Collision, a collision repair operator with more than 330 locations across the United States. The facility contains approximately 10,472 SF on an approximately 1.03-acre site, creating a substantial land component relative to the building footprint and accommodating vehicle-oriented operations.
The lease has approximately 6.5 years remaining, includes three additional 5-year renewal options, and provides 5% rent increases every five years. Under the NNN structure, the landlord’s obligations are limited to the roof and structure. The property is positioned near a Walmart Supercenter, Sam’s Club, and Lowe’s in Fort Walton Beach, Florida, with visibility and access supported by the surrounding retail concentration.
The lease has approximately 6.5 years remaining, includes three additional 5-year renewal options, and provides 5% rent increases every five years. Under the NNN structure, the landlord’s obligations are limited to the roof and structure. The property is positioned near a Walmart Supercenter, Sam’s Club, and Lowe’s in Fort Walton Beach, Florida, with visibility and access supported by the surrounding retail concentration.
Key Highlights
- Classic Collision lease with approximately 6.5 years remaining
- Triple‑net lease; landlord responsible only for roof and structure
- Three additional 5‑year renewal options
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$54,204
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,084,080
$1.1M
Cap Rate 7%
$774,343
$774.3K
Cap Rate 9%
$602,267
$602.3K
Market Conditions
NOI Build-Up for 10,472 SF
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.
Gross rent
$81.7K $7.80/SF
− Vacancy
−$4.2K −$0.41/SF
EGI
$77.4K $7.39/SF
− OpEx
−$23.2K −$2.22/SF
NOI
$54.2K $5.18/SF
Area
Okaloosa County, FL
Vacancy
5.20%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,084,080
Cap Rate 7%
$774,343
Cap Rate 9%
$602,267
Alternative Uses
Best Use
Retail
$2.15M
$1.88M – $2.51M
NOI $150,530 @ 7.0% cap · market cap 10.98%
Second Best
Industrial
$774.3K
$677.6K – $903.4K
NOI $54,204 @ 7.0% cap · market cap 3.95%
Theoretical Best
Specialty Retail
$4.04M
$3.53M – $4.71M
NOI $282,490 @ 7.0% cap · market cap 20.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
Explore this area
Business Placement
Demographics for 32547, FL
35,466
Population
16,112
Households
2.2
Avg Household Size
37
Median Age
28%
College-Educated
89%
High-School Grad
29.0 sq mi
ZIP Area
1,223
Density / Sq Mi
$67,822
Median Household Income
$36,465
Median Earnings
$1,421
Median Rent
$299,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Leased collision repair facility with long-term triple-net structure and nearby national retail anchors.
Where is this nnn property located?
The property is located at 700 Edge St Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $1,371,429.
What are key features of this property?
This property features: Classic Collision lease with approximately 6.5 years remaining; Triple‑net lease; landlord responsible only for roof and structure; Three additional 5‑year renewal options
