$4,600,000

Est. payment -/mo

$5,500,000

16.4%

Est.Price: ?

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6 11Th Avenue Shalimar, FL 32579

0.31 Acres Lot

SOLD DATE : 04/04/2024

Key Details

Sold Price $4,600,000

Property Type Commercial

Sub Type Office

Listing Status Sold

Purchase Type For Sale

MLS Listing ID 939656

Sold Date 04/04/24

Lot Size 0.310 Acres

Acres 0.31

Property Sub-Type Office

Property Description

Shalimar Town Center encompasses a total area of 39,000+ square feet, maintaining a 100% lease occupancy and generating consistent income. With an impressive cap rate projection of 7%, the structure seamlessly integrates six buildings into a cohesive professional office center.Tenant highlights include full occupancy, with the exception of one space currently utilized as a maintenance staff office. The diverse tenant mix ensures stability and reliability in income generation.Strategically situated in Shalimar, FL, the prime real estate location is in close proximity to key destinations, including the Destin-Fort Walton Beach Airport (10 minutes), the vibrant city of Destin (14 miles), Eglin Air Force Base (5 miles), and Hurlburt Field Air Force Base (6 miles).