Opportunity Available for Shalimar Investment or Redevelopment
A unique opportunity on a sound investment
Strategically located in a Northwest Florida corridor that services a booming tourism industry and a sprawling military influence, this multi-tenant complex offers opportunities for existing cash flow as well as long-term redevelopment possibilities. Potential rent increases and/or future development provides for a unique opportunity on a sound investment.
Listed Price: $2,790,000
Address: 1270 Eglin Parkway, Shalimar
Square Footage: 23,336
Year Built: 1940 – Effective 1975 Remodeled 1997
Features: Multi-tenant office/retail complex with lease terms allowing for rent growth. The property consists of 23,336 square feet with multiple tenants and an upside for potential rent increases on existing tenants which improve the NOI. 2.37+/- acres located at the north end of Shalimar and entry to Eglin Air Force Base.
Appeal: Investment or potential owner-occupied facility with redevelopment possibilities. First time on the market since 1997. Redevelopment could include hotels, retail or new office space including medical facilities. The outlook for the region is continued stability, and this investment, in its current configuration, should provide consistent growth moving forward in this market.
David Valletto, SIOR
Beck Partners CRE, LLC
Senior Vice President