3582 Us-98 Santa Rosa Beach, FL 32459
- Retail properties
- 2,304 SF
- 1.11 lot acres
Current Use by Public Records
- Retail properties
Property Details for 3582 Us-98
- Year built
- 2023
- Lot size
- 1.11 lot acres
- Property size
- 2,304 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a fee-simple ownership of a newly constructed (2023) Del Taco restaurant in Santa Rosa Beach, Florida. The property boasts a prime location on US-98, a major thoroughfare with high traffic volume (40,000+ ADT). The 2,304 square foot building sits on a 1.11-acre lot with ample parking (24 spaces). The property is currently 100% occupied under a 20-year absolute NNN lease with Del Taco, a publicly traded company, commencing June 1, 2023, and expiring May 31, 2043. The lease includes four 5-year renewal options, providing significant long-term stability. The corporate guarantee ensures consistent rental income. The asking price is $3,254,545, representing a 5.50% cap rate. This single-tenant, single-story building offers a low-maintenance investment in a rapidly growing area with strong demographics (average household income within a 1-mile radius exceeds $145,562). The location benefits from proximity to Destin and Panama City Beach, attracting significant tourism. Walton County's consistent population growth (5.3% between 2020 and 2021) further enhances the property's long-term value. This is an ideal opportunity for investors seeking a passive income stream in a high-demand location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Santa Rosa Beach
- County
- Walton
- State
- Florida
- Longitude
- -86.2383
- Latitude
- 30.3743
