Property Type:
Commercial for Sale
Lot Size (sq. ft.):
37,026
Status:
Sold
Current Price:
$2,700,000
List Date:
7/27/2018
Last Modified:
10/12/2024
Overview
Description
Prime commercial parcel located in Destin, Florida's industrial district, offering fantastic logistical orientation to the area's main vehicle thoroughfares and within a mile to the private airport.
The approximate .84-acre site has exceptional ingress and egress, with 120' fronting Airport Road, as well as 120' to the rear on Industrial Park Road, featuring a loading dock.
The site is zoned IN (Industrial) through the City of Destin, located in Okaloosa County.
Measuring over 12,000+ SF and originally constructed in 2001, the building has undergone a substantial renovation to accommodate its new credit-rated tenant, Xator Corporation, a national security concern involved in global operations. The modernized interior and its layout consists of a main floor and mezzanine level...
Supplements:
The main floor is comprised of a spacious lobby with two bathrooms, six offices (the largest executive office features a lavish full bath), two conference rooms, a break room, IT room, an expansive "bullpen" enjoying significant ceiling volume and accommodating adaptable cubicle configurations, serviced by a beautiful kitchen and work island. The f
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The main floor is comprised of a spacious lobby with two bathrooms, six offices (the largest executive office features a lavish full bath), two conference rooms, a break room, IT room, an expansive "bullpen" enjoying significant ceiling volume and accommodating adaptable cubicle configurations, serviced by a beautiful kitchen and work island. The floorplan flows into a warehouse and flex space which contain two additional bathrooms and a loading dock with canopy and two commercial-grade roll-up doors. The mezzanine level could accommodate expanded workspace, seminars, game room, exercise room, storage, etc. The initial term of the lease and rent commenced on April 1, 2018, and shall terminate on March 31, 2023, unless tenant exercises optional renewal terms allowing for two (2)-year and one (1)-year additional extensions.
The minimum base rent is $204,000/annually under net lease terms, further offering an investor 3.5% annual escalations. Please inquire for further details. Showings must be accompanied by listing broker and are by appointment only.
Last Updated: October - 12 - 2024
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