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31632370

414 Mary Esther Cut Off NW, Fort Walton Beach, FL 32548

MR
FL BK3241423
Centergys Development - Mike Rich - Intelligence
Listed by Centergys Development - Mike Rich - Intelligence
$3,171,733
81 days on market
Updated 7 days ago

Golden Corral- BACK ON THE MARKET

Details
Property Type Retail
Sub Type Restaurant
Square Footage 9,737
Net Rentable (SqFt) 9,737
Cap Rate 6%
NOI $190,304
Occupancy 100%
Tenancy Single
Brand/Tenant Golden Corral
Lease Type Absolute NNN
Lease Term 19
Lease Expiration 07/31/2032
Remaining Term 6.1
Rent Bumps Yes
Lease Options 2 Five Year Option
Price per SqFt $326
Broker Co-Op Yes
Buildings 1
Stories 1
Acreage 1.610
Zoning GC
Parking Spaces 93 spaces
Parking per 1,000 SqFt 9.55
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 08/01/2013
Occupancy Date 08/01/2013
Ground Lease No

Retail | 6.00% CAP | 9,737 SqFt

Marketing description

The retail real estate market surrounding 414 NW Mary Esther Cutoff in Fort Walton Beach, Florida is located within one of the city’s primary commercial corridors, characterized by strong traffic counts, national retail tenants, and proximity to major employment centers. Mary Esther Cutoff serves as a key north–south arterial with traffic volumes 37,000 vehicles per day. Retail demand in this corridor is supported by a stable local population, tourism activity, and a significant military presence from nearby Eglin Air Force Base and Hurlburt Field, which collectively employ tens of thousands of personnel. The area features several established neighborhood and power that attracts more than two million visits annually and benefits from a daytime population of over 59,000 within a three-mile radius.

Retailers in the immediate trade area include a mix of national chains and local businesses. Key anchors and nearby tenants include Publix Super Market at Sun Plaza Shopping Center along with retailers such as TJ Maxx, Bealls, Books-A-Million, and Aldi within the Sun Plaza development. Additional national retailers and service providers include Home Depot, Office Depot, Walgreens, CVS, and Michael’s, creating a dense convenience-oriented retail cluster. Overall, the area functions as a well-established neighborhood and community retail hub serving both local residents and military personnel, with continued demand for service retail, restaurants, and daily-needs tenants along the Mary Esther Cutoff corridor.

Investment highlights

  • Absolute NNN lease
  • Asking Price: $3,171,7332
  • NOI: $190,304
  • Cap Rate: 6.00%
  • 6.5 years remaining Initial Lease Term. 1.5% annual rent increases.
  • 2 Five-year options after expiration of Initial Term. Total 16.5 years remaining.
  • Because the rent is below market rates, the investment remains stable even if the tenant leaves. The property offers redevelopment potential that surpasses its current value in use.
  • General commercial zoning permits wide range of uses allowed.
  • High traffic counts and located in a destination retail hub Located in THE retail hub of Hernando County

Listing Contacts

MR
FL BK3241423
Centergys Development - Mike Rich - Intelligence
Listed by Centergys Development - Mike Rich - Intelligence

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$190,304.00
$15,858.67/mo

Valuation Metrics

0
DSCR
6%
Cap Rate
6%
ROI

Map

Zoning

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CG CommercialGeneral CommercialCommercial
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Last updated May 14, 2026 For deeper zoning details, reports are available at Zoneomics

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Additional Information

Name
Mike Rich
License
BK3241423
Brokerage
Centergys Real Estate Services
Brokerage Phone
4074965335
Title
Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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