Retail

Shoreline Village Shopping Center - Destin, FL

862-872 Harbor Blvd Destin, Florida United States 32541-2702
Asking Price Contact for pricing
NOI Net Operating Income
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 1985
Building Area Gross
Land Area Gross ()
Occupancy 87.0 %

Property description

JLL, as exclusive broker, is pleased to present a unique opportunity to acquire a 70,161 square foot value-add community center located on an irreplaceable 6-acre parcel along Harbor Boulevard (US-98) at the gateway to Gulf Shore Drive.


Investment highlights

  • Irreplaceable coastal 6-acre parcel along Harbor Boulevard (US-98) at signalized gateway intersection to Gulf Shore Drive
  • Gulf Resort Mixed Use zoning allows for hotel, multi-family residential, retail, restaurants, and office uses which could add tremendous value to the site long term
  • West Marine is in the top 20% most visited stores among chain stores tracked (Placer Ai), has expanded, has renewed 6 times, and has one remaining 5-year option
  • All tenants, excluding West Marine, Jersey Mike’s, Trulieve, and Joris Specialty Meats, have Landlord relocation rights and many tenants have short term leases with limited lease options remaining
  • Upside in potential to lease up 7,212 square feet of vacant space and activation of central courtyard as a venue for food trucks, concerts, performing arts, farmer’s markets, car shows, or other family entertainment outings, creating an additional revenue stream at the Property
  • World-renowned Destin MSA – 16th fastest growing MSA in the U.S., which attracts an estimated 4.5 million tourists to the region annually
  • Exceptional area demographics with a 3-mile average household income that exceeds $100,000
  • Low in-place rents will yield below replacement cost asset pricing


Last Updated Date: 30 Sep 2021
Brad Peterson
Brad Peterson
Senior Managing Director, Orlando Office Co- Head
Broker Licenses
FL-BK3162030 AL-000088844-0 GA-256948 NC-323216
Whitaker Leonhardt
Whitaker Leonhardt
Senior Director, Capital Markets
Broker Licenses
FL-SL3221137

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Last Updated Date: 30 Sep 2021

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