Scenic 98 Center | 5241-5255 Gulf Breeze Pky
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Scenic 98 Center 5241-5255 Gulf Breeze Pky
12,500 SF 100% Leased Retail Building Gulf Breeze, FL 32563 £1,918,368 (£153/SF)
Investment Highlights
- Heavy Travel Corridor 35,500 CPD
- Value Add Opportunity
- Highly Competetive and Sought after Lease Market
- 200 FT Frontage
- Family Owned and Operated
Executive Summary
VALUE ADD OPPORTUNITY -
EXTREMELY TIGHT LEASING MARKET
5241 Gulf Breeze Pkwy offers an exceptional value-add opportunity for investors. The property is currently owner-operated with short-term leases in place, providing the potential for a new owner to adjust lease rates to align with the highly competitive Gulf Breeze market, where NNN lease rates typically range from $17 to $29 per square foot.
Additionally, there is potential for assemblage with the adjacent 0.98-acre HCD-zoned parcel, which, while not currently listed for sale, adds further strategic possibilities for future development.
With the recent price adjustment, this property is an excellent acquisition for a savvy investor, priced at just $199.20 per square foot in one of the most sought-after markets.
Located in the thriving Midway - Navarre area of Gulf Breeze, Florida, the building has been meticulously maintained and has recently undergone capital improvements, including updates to the electrical systems, flooring, and the roof. The property boasts 30 parking spots in front of the building, with additional parking available at the rear. The laydown area at the rear of the building offers convenient access for deliveries and extra storage space.
12,048 SF Strip Center
5-Unit Center
Potential for Expansion
Value-add opportunity
Highly competitive leasing market
35,500 CPD
AREA HIGHLIGHTS
Established commercial trade corridor along the bustling HWY 98 travel route with 35,500 CPD. There are 766 businesses within a 5-mile radius employing 5,259 employees. Total sales for the 5-mile radius through June 2024 is a robust $1,287,644,000. Average home value for homes within a 5-mile radius range from $475,525 through $546,549.
EXTREMELY TIGHT LEASING MARKET
5241 Gulf Breeze Pkwy offers an exceptional value-add opportunity for investors. The property is currently owner-operated with short-term leases in place, providing the potential for a new owner to adjust lease rates to align with the highly competitive Gulf Breeze market, where NNN lease rates typically range from $17 to $29 per square foot.
Additionally, there is potential for assemblage with the adjacent 0.98-acre HCD-zoned parcel, which, while not currently listed for sale, adds further strategic possibilities for future development.
With the recent price adjustment, this property is an excellent acquisition for a savvy investor, priced at just $199.20 per square foot in one of the most sought-after markets.
Located in the thriving Midway - Navarre area of Gulf Breeze, Florida, the building has been meticulously maintained and has recently undergone capital improvements, including updates to the electrical systems, flooring, and the roof. The property boasts 30 parking spots in front of the building, with additional parking available at the rear. The laydown area at the rear of the building offers convenient access for deliveries and extra storage space.
12,048 SF Strip Center
5-Unit Center
Potential for Expansion
Value-add opportunity
Highly competitive leasing market
35,500 CPD
AREA HIGHLIGHTS
Established commercial trade corridor along the bustling HWY 98 travel route with 35,500 CPD. There are 766 businesses within a 5-mile radius employing 5,259 employees. Total sales for the 5-mile radius through June 2024 is a robust $1,287,644,000. Average home value for homes within a 5-mile radius range from $475,525 through $546,549.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
12,500 SF
Building Class
B
Year Built/Renovated
1976/2024
Price
£1,918,368
Price Per SF
£153
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.15
Lot Size
1.97 AC
Zoning
HCD - Highway Commercial Development
Parking
25 Spaces (2.06 Spaces per 1,000 SF Leased)
Frontage
199 ft on Gulf Breeze Pky
Amenities
- Freeway Visibility
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Number | 24-2S-28-1150-00100-0160 | Improvements Assessment | £112,879 |
| Land Assessment | £205,026 | Total Assessment | £317,905 |
PROPERTY TAXES
Parcel Number
24-2S-28-1150-00100-0160
Land Assessment
£205,026
Improvements Assessment
£112,879
Total Assessment
£317,905
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Scenic 98 Center | 5241-5255 Gulf Breeze Pky
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