44 Eglin NE Pkwy Fort Walton Beach, FL 32548-4957
Property profile & analytics
44 Eglin NE Pkwy Fort Walton Beach, FL 32548-4957
- Drive through restaurants
- 2,212 SF
- 0.46 lot acres
Property ID
US18-5255043
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Okaloosa County Fort Walton Beach FL / Department Store
Property Details for 44 Eglin NE Pkwy
- Year built
- 2014
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.46 lot acres
- Property size
- 2,212 SF
- Property type
- Drive through restaurants
- APN
- 13-2S-24-1880-0007-0060
- APU
- 132S24188000070060
Description
This exceptional investment opportunity presents a 1,640 square foot 7-Brew Coffee location in Fort Walton Beach, Florida, situated on a 0.38-acre lot at 44 Eglin Parkway Northeast. Boasting a 15-year absolute net ground lease commencing July 25, 2024, and expiring July 24, 2039, this property offers a secure, long-term investment with significant upside potential. The lease includes three 5-year renewal options and features a 10% rent increase every five years. Built in 2014 and renovated in 2024, the property benefits from a prime location on Eglin Parkway, a major thoroughfare with over 49,000 vehicles daily, connecting Eglin Air Force Base to US Highway 98 and the coast. The property's strategic location is further enhanced by a dense residential population exceeding 51,000 within a 3-mile radius. The double drive-thru design with four points of ingress/egress optimizes operational efficiency. The current Net Operating Income (NOI) is $94,000, representing a 5.50% cap rate on the asking price of $1,709,090 ($1,042.13 per square foot). This 7-Brew Coffee location is a rare absolute net ground lease structure, with the landlord retaining ownership of the improvements, offering a unique depreciable asset. The franchisee tenant enjoys a strong track record, reflecting the brand's rapid expansion and popularity. This is a compelling investment opportunity in a high-growth QSR concept with a secure, long-term lease and significant potential for appreciation.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $761,000
Market price range: $257k - $776k -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $1,180,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Fort Walton Beach
- County
- Okaloosa
- State
- Florida
- Longitude
- -86.6062
- Latitude
- 30.4143
- CBSA code
- 18880
- CBSA name
- CRESTVIEW-FORT WALTON BEACH-DESTIN, FL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$5,608
$247,783
$170,586
$418,369
-
$247,783
$170,586
$418,369
