4619 Main St Holt, FL 32564
- Grocery and convenience stores
- 5,425 SF
- 0.63 lot acres
Current Use by Public Records
- Grocery and convenience stores
Property Details for 4619 Main St
- Year built
- 1965
- Lot size
- 0.63 lot acres
- Property size
- 5,425 SF
- Property type
- Grocery and convenience stores
- Property subtype
- Gas stations
- APN
- 33-3N-25-2500-0094-0000
Description
This exceptional investment opportunity presents a newly renovated Shell gas station and Browns Supermarket, situated on a 0.63-acre lot in Holt, Florida. The property boasts 5,425 square feet, including 3,420 net rentable square feet, and features 12 gas pumps and 38 parking spaces. A 20-year absolute NNN lease is in place, with a current NOI of $240,000 and a pro-forma NOI of $319,440, resulting in an 8% current cap rate and a pro-forma cap rate of 10.65%. Rent increases by 10% every 5 years, ensuring significant long-term growth. The lease includes two 5-year options to extend. The property, built in 1965 and renovated in 2024, consists of two single-story buildings and is zoned for supermarket/gas station use. The location is highly advantageous, situated 0.3 miles from Interstate 10, Exit 45, and is the only gas station within a 10-mile radius. The attached Browns Supermarket has operated for over 50 years, and recent renovations include a new canopy, pumps, lighting, signage, and deli counter, with a new checkout counter planned for August 2024. The property also includes a single-family home. The asking price is $3,000,000. Seller financing is available.
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
- Holt
- County
- Okaloosa
- State
- Florida
- Longitude
- -86.7476814
- Latitude
- 30.7150196
