564 Beal PkwyFort Walton Beach, FL 32548

Property Details for 564 Beal Pkwy

Year built

2023

Lot size

0.99 AC

Property size (Sq ft)

2,824 SF

Property type

Retail properties

Property subtype

Other retail properties

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.

Location Insight

City

Fort Walton Beach

County

Okaloosa

State

Florida

Latitude

30.4284

Longitude

-86.6389

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