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4010 Commons Dr W

2,500 SF Light Industrial Unit Offered at £420,788 in Destin, FL 32541

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Investment Highlights

Tenant in place since Feb 2022
NNN lease

New 5-year lease 12/1/2024

Executive Summary

A 2500 square foot flex unit occupied by Seaside Premium Cabinets (www.seasidepremiumcabs.com) since February of 2022. This is a cabinetry showroom and office with warehouse space and a rear overhead door. Please do not disturb tenant.

Property Facts

Price	£420,788	Building Class	C
Unit Size	2,500 SF	Number of Floors	1
No. Units	1	Typical Floor Size	27,326 SF
Total Building Size	27,326 SF	Year Built	2004
Property Type	Office (Unit) Light Industrial Showroom	Lot Size	2.16 AC
Sale Type	Investment NNN	Parking Ratio	2.74/1,000 SF

Price	£420,788
Unit Size	2,500 SF
No. Units	1
Total Building Size	27,326 SF
Property Type	Office (Unit) Light Industrial Showroom
Sale Type	Investment NNN
Building Class	C
Number of Floors	1
Typical Floor Size	27,326 SF
Year Built	2004
Lot Size	2.16 AC
Parking Ratio	2.74/1,000 SF

1 Unit Available

Unit 116

Unit Size	2,500 SF	Sale Type	Investment
Price	£420,788	Net Initial Yield	6.67%
Price Per SF	£168.32	NOI	£28,052.50
Unit Use	Light Industrial	APN/Parcel ID	00-2S-22-1035-0000-0116

Unit Size	2,500 SF
Price	£420,788
Price Per SF	£168.32
Unit Use	Light Industrial
Sale Type	Investment
Net Initial Yield	6.67%
NOI	£28,052.50
APN/Parcel ID	00-2S-22-1035-0000-0116

Description

NNN Investment property. 2500 sf flex condo, tenant occupied since 2022. New lease signed 12/1/2024 for 5 years, expires 11/30/2029 with 3% annual base rent increases. Tenant is Seaside Premium Cabinets (www.seasidepremiumcabs.com) and pays all other expenses including semi-annual HVAC maintenance and the first $500 of any HVAC repairs (HVAC was replaced in October of 2024). Please do not disturb tenant.

Sale Notes

A bite-sized investment opportunity with a tenant that has been in place since February of 2022 and just signed a new 5-year lease effective December 1, 2024. Lease is NNN. HVAC system was replaced in October of 2024 and Tenant is responsible for the first $500 of repairs annually. Please do not disturb tenant, Seaside Premium Cabinets. Tenant website is www.seasidepremiumcabs.com

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