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Multifamily

Spanish Trace

203 W John Sims Pkwy, Niceville, FL 32578

Listing Price: $2,400,000

Cap Rate
5.99%
GRM
9.65

Investment Overview

12 residential units with two commercial spaces located in Niceville, FL

Investment Highlights

  • 12 residential units with two commercial spaces located in Niceville, FL
  • Ability to reach a 7% cap rate in year two by implementing value-add strategy and bringing rents up to market
  • All units are two bedrooms and are a sizable 900 square feet
  • Both commercial spaces are 100% occupied with leases in place
  • Both commercial spaces are 100% occupied with leases in place
  • Situated directly adjacent from the Boggy Bayou with direct access to Choctawhatchee Bay for fishing, paddleboarding, kayaking and boating
  • Located directly on the John Sims Highway with an average traffic count of 47,500 vehicles per day

Exclusively Listed By

Financing By

Multifamily

Spanish Trace

Investment Highlights

  • 12 residential units with two commercial spaces located in Niceville, FL
  • Ability to reach a 7% cap rate in year two by implementing value-add strategy and bringing rents up to market
  • All units are two bedrooms and are a sizable 900 square feet
  • Both commercial spaces are 100% occupied with leases in place
  • Both commercial spaces are 100% occupied with leases in place
  • Situated directly adjacent from the Boggy Bayou with direct access to Choctawhatchee Bay for fishing, paddleboarding, kayaking and boating
  • Located directly on the John Sims Highway with an average traffic count of 47,500 vehicles per day

Investment Overview

12 residential units with two commercial spaces located in Niceville, FL

Exclusively Listed By

Financing By

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