857 Florida 20, Freeport, FL 32439

Marcus & Millichap’s TC Retail Group is pleased to present the opportunity to acquire Four Mile Landing. 100% leased with 12,443 SF of retail space and a 3,845 SF warehouse. Offered at a 6.33% cap rate and $346.27 PSF, the property provides investors the opportunity to acquire a newer 2023-built retail asset at an attractive basis, with strong in-place cash flow, NNN lease structures, and scheduled rent growth supported by continued tenant reimbursements.

The property generates $356,793 in Year 1 NOI, with current net rents averaging $21.91 PSF, below the overall market average rent of $23.08 PSF according to CoStar. The surrounding retail market remains highly constrained, with current overall vacancy of just 2.7%, creating a strong leasing environment with limited available competing space. Additional upside is supported by future rent growth as leases roll and renew, while the property’s 100% occupancy provides stable income from day one.

Four Mile Landing benefits from a diverse tenant mix that includes national, regional, and local operators, with Pizza Hut serving as a recognizable national tenant and Tool Expo occupying both retail space and the rear warehouse building. The additional warehouse square footage provides functional storage and distribution space that supports Tool Expo’s operations while creating added income-producing square footage beyond the main retail strip. The property also features ample parking, strong curb appeal, and a functional site layout along Highway 20 E, one of Freeport’s primary east-west corridors.

The asset is positioned in a rapidly growing and affluent Freeport trade area, with 2025 average household incomes of $109,414 within 3 miles, $104,501 within 5 miles, and $108,816 within 10 miles. The surrounding area continues to benefit from new residential growth, including Crossings at Riverwalk, Riverwalk 55+ Home Sites, and LaGrange Landing, while nearby national retailers such as Publix, Ace Hardware, Waffle House, UPS, McDonald’s, Jersey Mike’s, Taco Bell, Subway, CEFCO, and O’Reilly Auto Parts further strengthen the property’s retail corridor.