40 4Th Avenue, Shalimar, FL 32579 (MLS# 969018)

40 4Th Avenue, Shalimar, FL 32579

$1,600,000

Property Type: Commercial for Sale Lot Size (sq. ft.): 2,614 Status: Active

Current Price: $1,600,000 List Date: 2/20/2025 Last Modified: 4/11/2025

Description

Introducing an exceptional investment opportunity in the heart of Shalimar! This 12-unit multifamily property delivers a solid NOI of $81K, with a 4% rent increase already secured for 2025. All units are fully leased with no vacancies, ensuring steady income from day one. The seller is offering a stellar financing. Call for details. Subject to credit approval and additional terms. The property features three duplex buildings, each with 2-bedroom, 1-bath units at 812 sqft, complete with carports

Supplements: Current rents range from $900 to $1,300 per month. The fourth building offers six townhouse-style units, each 1,212 sqft with 2 bedrooms and 1.5 baths, renting between $950 and $1,100 monthly presenting a clear opportunity for rental increases and a significant boost to your bottom line. Located centrally in Shalimar, this property offers unbeatable convenience: just minutes from shopping, dining, and entertainment. Eglin AFB is only 3 miles away, hospitals are within 4 miles, Hurlburt Field is 11 miles, and the stunning Okaloosa Island Boardwalk, with its white sandy beaches and emerald-green waters, is just a short drive. Call today for more information and to schedule a showing!

More Information MLS# 969018

None

Current Price: $1,600,000

Status Change Info

Status: Active

Contract Info

GCCMLS Number: 41958585 List Date: 2025-02-19 List Price: $1,600,000 Listing Board: Emerald Coast

Location Tax and Legal

Area: 12 - Fort Walton Beach Street #: 40 Street Name: 4Th Street Suffix: Avenue State: FL Zip Code: 32579 County: Okaloosa Parcel ID: 05-2S-23-1950-0000-0010

General Property Info

Listed on GCCMLS: Yes Vacant: No Immediate Occupancy: No Acreage: 0.06 Zoning: SR Future Land Use: SR

Multi-Family

Year Built: 1996 Building SqFt: 12147 # of Units: 12 Actual Gross Income: 152820 Net Operating Income: 90431 Cap Rate: 5.65 # Buildings: 4

Property Features

Class: Multi-Family Construction Status: Existing

Listing Office: Keller Williams Realty FWB

Last Updated: April - 11 - 2025

All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2020 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.

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