Property Details for 5730 Hwy 85th N

Lot size

1.01 lot acres

Zone code

MU

Property type

Commercial land

APN

33-4N-23-0000-0057-0000

APU

334N23000000570000

Description

This exceptional investment opportunity presents a brand-new, 3,153 square foot Burger King restaurant located at 5730 Hwy 85 N, Crestview, FL 32536. Built in 2023, this single-tenant, net-lease property boasts a 20-year lease commencing October 1, 2023, and expiring October 1, 2043, with a remaining term of 18.9 years. The lease includes 5% rent bumps every five years and four 5-year lease options. The property sits on one acre of land and offers 24 parking spaces. The strong financial performance is highlighted by a 6.20% cap rate and a net operating income (NOI) of $177,924. The asking price is $2,870,000. This prime location is directly across from a newly constructed Publix-anchored shopping center, featuring a high-performing Publix supermarket ranked in the 87th percentile nationally. The surrounding area includes additional retail establishments such as Wendy's, Great Clips, and Rocket Fizz, as well as Crestview Marketplace, anchored by Winn-Dixie. Furthermore, significant residential development is underway nearby, adding to the long-term growth potential. The property benefits from a robust local demographic profile, with over 40,000 residents and 13,000 employees in the trade area, and an average household income exceeding $101,184 within a one-mile radius. Crestview exhibits a steady 1% annual growth rate, with a 3% population increase since the last census. This is a rare opportunity to acquire a high-quality, net-leased asset with exceptional long-term growth prospects in a thriving market.

Location Insight

City

Crestview

County

Okaloosa

State

Florida

Longitude

-86.5577

Latitude

30.7962

CBSA code

18880

CBSA name

CRESTVIEW-FORT WALTON BEACH-DESTIN, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments