5675 Us-90 Milton, FL 32583

Property Details for 5675 Us-90

Property size

10,528 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional 10,528 square foot shopping center in Milton, Florida, presents a compelling investment opportunity. Priced at $1,250,000, reflecting a 5.65% cap rate and a NOI of $70,616, this newly renovated property offers significant upside potential. The property boasts below-market rents, providing immediate opportunities for increased cash flow within the first year through rent adjustments. Short-term leases allow for swift implementation of these increases. Currently operating under gross leases, the property offers the potential for conversion to NNN leases as existing agreements expire. Located on US-90, the center benefits from high visibility and traffic, with nearly 40,000 vehicles passing daily. Its strategic location, just five minutes from major national retailers like Walmart, Home Depot, Lowe's, Target, and Publix, ensures strong tenant appeal and customer traffic. Furthermore, the property is a convenient 20-minute drive from Pensacola. The surrounding area has demonstrated robust population growth, increasing by 20.67% over the past decade, averaging 2.45% annually. This sustained growth fuels demand for retail services, enhancing the long-term value and profitability of this investment. The asking price of $118.73 per square foot represents a below-replacement cost acquisition, making this a truly attractive opportunity for savvy investors.