Crestview Investment Opportunity

Office for Sale
Catylist Listing ID: 30790487
Property Subtypes: Office Building
Building Size (RSF): 12,000 SF
Gross Building Area: See Agent
Sale Price: $1,800,000
Unit Price: $150 PSF
Property Use Type: Investment
Class of Space: Class B
Sale Terms: Undisclosed
Cap Rate: 9.0%
Last Updated: 11/18/2022

Overview / Comments

Multi-Tenant Investment Offering located in the dynamic Crestview, Florida market. Crestview has experienced tremendous growth over the last several years and office vacancy rates are at all time lows. Unemployment in the area is well below the national average at 2.8% and job growth has consistently outpaced national averages.

Premier Plaza Office Park consists of 12,000sf of office space, which is divided into nine units. The property is in excellent condition as it was constructed in 2011. Lakeview Center Inc. occupies the majority of the complex leasing 7,500sf, while Edward Jones Financial Services, Resource Financial Services, and Foundations Title each lease a 1500sf unit. The acquisition CAP is approximately 9% and Investors will enjoy average cash on cash returns of approximately 12.4%. It’s a great opportunity to invest in a stable office project within an active market.

Sales price of $1,800,000
9% CAP
Credit Tenants in Place
12.4% Cash on Cash Return

Attachments & Media

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Additional Details

Nearest MSA: Crestview-Fort Walton Beach-Destin
County: Okaloosa
Tax ID/APN: 17-3N-23-2497-0000-0050
Zoning: COMMERCIAL
Year Built: 2011

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,723 25,116 36,327
Median Age: 32.85 34.51 35
Households: 2,491 9,309 13,339

Contact

Photograph of Listing Agent

Stacy Taylor, CCIM

Beck Partners CRE TALrex.com Member
Photograph of Listing Agent

Kylle Shoemaker

Beck Partners CRE, LLC Not a member of TALrex.com
Photograph of Listing Agent

Scott Spidell

Beck Partners CRE, LLC Not a member of TALrex.com
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