162 Eglin NE Pkwy Fort Walton Beach, FL 32548-4441
- Car washes
- 4,792 SF
- 0.49 lot acres
Current Use by Public Records
- Cinco Express Car Wash / Car Wash
- Caliber Car Wash / Car Wash
Property Details for 162 Eglin NE Pkwy
- Year built
- 2014
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.49 lot acres
- Property size
- 4,792 SF
- Property type
- Car washes
- APN
- 12-2S-24-0460-0017-004A
- APU
- 122S2404600017004A
Description
This exceptional investment opportunity presents a fee-simple Caliber Car Wash located at 162 Eglin Pkwy NE, Fort Walton Beach, FL 32548. The property boasts 2,373 square feet on a 0.51-acre lot, built in 2014 and renovated in 2021. The property is subject to a 20-year Triple Net (NNN) lease, commencing March 1, 2022, and expiring February 28, 2042, leaving over 17 years remaining. The current annual net operating income (NOI) is $201,816, representing a 5.75% cap rate and a price per square foot of $1,479.07. The lease includes annual rent increases of 1.50%, providing consistent growth potential. The lease is backed by a corporate guarantee from Clydsdale Holdings LLC, adding significant security to this investment. Caliber Car Wash is a rapidly expanding national brand, currently operating over 50 locations across multiple southeastern states. This offering presents a rare chance to acquire a high-performing, long-term NNN leased asset with a strong tenant and significant remaining lease term, offering substantial passive income and appreciation potential. The property's location in Fort Walton Beach, Okaloosa County, further enhances its desirability. This is a turnkey investment ideal for passive income seekers.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,510,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $3,085,000
- 6.5%
- $2,930,000
- 7%
- $3,415,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,220,000
- Geo Method
- $3,260,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,450,000
- Retail
- $3,555,000
- Mixed-Use
- $3,155,000
- Hospitality
- $3,025,000
- Educational
- $3,530,000
- Residential Income
- $3,050,000
- Energy
- $2,690,000
- Income-Based Land
- $3,290,000
- Food Service
- $3,595,000
Location Insight
- Map
- Local Demand
- City
- Fort Walton Beach
- County
- Okaloosa
- State
- Florida
- Longitude
- -86.6102
- Latitude
- 30.4206
- CBSA code
- 18880
- CBSA name
- CRESTVIEW-FORT WALTON BEACH-DESTIN, FL METROPOLITAN STATISTICAL AREA
