Investment Restaurant Properties

Fort Walton Beach is located between Pensacola and Panama City. The Property's trade area is largely characterized by military personnel from Eglin Air Force Base and Hurlburt Field. Eglin Air Force Base covers over 463,000 acres and employs more than 8,500 military personnel and approximately 4,500 civilians. Hurlburt Field has 10,782 active-duty military personnel and 1,316 civilian employees. These combine to create a very stable employment base for the trade area, making it highly desirable.Desirable investment opportunity in the Fort Walton Beah Market with an attractive 5% cap rate. Centrally located in Fort Walton Beach’s main retail corridor, the fully occupied property consists of +/- 1.12 acres and +/- 5,035 sf of leasable space. The property features two freestanding, fully leased restaurant buildings. Building A is a +/- 2,664 SF triple net leased Zaxby’s restaurant situated on +/- .55 acres. Zaxby’s original lease extended a 10-year term commencing July 22, 2010. They have extended their original lease through the first fiveyear option period beginning April 1, 2021, with an annual 3% increase from previous year's rent. Zaxby’s has the option to extend their lease an additional five years. Building B consists of one +/- .27 acre vacant commercial lot and a +/- 2,371 SF triple net leased Juno’s restaurant. Juno’s original lease extended a 10-year term commencing April 15, 2009. They have extended their original lease through the first eight-year option period beginning June 1, 2019. Juno’s has no option to extend the term of their lease. Building A has a 19-space private parking lot. Building B has a 29-space private parking lot. Both buildings share 13 parking spaces located between the two units. The site has excellent access, visibility, and exposure on the main arterial in Fort Walton Beach, Eglin Pkwy, which experiences over 41,500 vehicles per day. The site is located just minutes from Eglin Air Force Base, the 300,000 SF Uptown Station shopping center, retailers, restaurants, and beaches