564 Beal Pkwy Fort Walton Beach, FL 32548
- Retail properties
- 2,824 SF
- 0.99 lot acres
Current Use by Public Records
- Murphy's / Gas Station
Property Details for 564 Beal Pkwy
- Year built
- 2023
- Lot size
- 0.99 lot acres
- Property size
- 2,824 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 2,824 square foot Murphy USA convenience store and gas station located at 564 Beal Pkwy, Fort Walton Beach, FL 32548. The property sits on a 0.99-acre lot at a high-traffic intersection (70,000+ vehicles per day), boasting a 20-year absolute NNN ground lease with a corporate guarantee from Murphy USA, a leading retailer with over $25.45 billion in revenue. The lease commenced November 12, 2023, and includes four 5-year renewal options, ensuring long-term stability. Rent increases by 8% every five years, providing significant growth potential. The property features a 5.00% cap rate and a strong net operating income (NOI) of $164,250. Built in 2023, this modern facility benefits from its prime location near major national retailers such as Walmart, Publix, Sam's Club, Lowe's, Home Depot, Whataburger, and Starbucks. The affluent area boasts average household incomes exceeding $90,000 within a 1, 3, and 5-mile radius, with over $100,000 in the immediate trade area. This is a rare opportunity to acquire a high-performing, low-maintenance investment property in a thriving market. The ground lease expires November 12, 2043. The asking price is $3,285,000, representing a price per square foot of $1,163.24. The property is currently 100% occupied.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Walton Beach
- County
- Okaloosa
- State
- Florida
- Longitude
- -86.6389
- Latitude
- 30.4284
