838 Airport Road

    Destin, FL 32541
    • $2,895,000
    • STATUS: Pending
    • ON SITE: 22 days
    • MLS #: 804025
    Pending
    UPDATED: 57 min ago
    $2,895,000
    • 0
      BEDS
    • 0.85
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    County:
    Area:

    School Ratings & Info

    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...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.

    Monthly Payment Calculator



    © 2018 Emerald Coast Association of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Luxury Properties Real Estate. Data last updated: 2018-08-19T11:02:05.167.
    www.luxurypropertiesrealestate.com/homes/86015608

    838 Airport Road Destin, FL 32541

    • Price: $2,895,000
    • Status: Pending
    • Updated: 57 min ago
    • MLS #: 804025
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.85
    Acres
    Neighborhood:
    Destin
    County:
    Okaloosa
    Area:
    Destin
    Property 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...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.
    Exterior Features

    Industrial Dock High Doors 1 Industrial Ground Level Doors 2 Lot Depth 310.00 Lot Dimensions 120X310 Lot Frontage 120.00

    Interior Features

    Income Producing Property Type Industrial

    Property Features

    As Is Yes Future Land Use IN (Industrial) Immediate Occupancy No Income Producing Cap Rate 7.00 Income Producing Net Operating Income 204000.00 Income Producing Year Built 2001 Industrial Property Type Flex Space Listing Board Emerald Coast Office Class Class A Property Name Xator Corporation Vacant No Zoning Industrial

    Listing courtesy of Somers & Company.


    © 2018 Emerald Coast Association of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Luxury Properties Real Estate. Data last updated: 2018-08-19T11:02:05.167.
     
    Luxury Properties Real Estate
    90 Spires Lane, Unit 6A
    Santa Rosa Beach FL, 32459