114-116 Benning Dr - Storefront FOR SALE


Destin, FL 32541
$1,800,000 USD
850-255-4008
114-116 Benning Dr, Destin, FL for Sale
$1,800,000 USD
Storefront - FOR SALE
1/13
null | 6.59% Cap Rate

114-116 Benning Dr
Destin, FL 32541


HIGHLIGHTS

  • Fully leased mixed-use property in central Destin
  • Mixed-use flexibility with residential + commercial income
  • 32 dedicated parking spaces with recent upgrades
  • Prime location on a high-visibility corridor near Mountain Drive

OVERVIEW

This fully leased mixed-use investment property at 114 & 116 Benning Drive offers a rare opportunity in the thriving Destin market. Comprising two buildings with six total units—five commercial spaces and one residential apartment—the asset delivers diversified income streams and long-term stability. Positioned along a high-visibility corridor near Mountain Drive, the property benefits from strong traffic exposure and proximity to dense residential neighborhoods and commercial hubs. The site spans 0.48 acres and includes 32 freshly striped parking spaces, ensuring convenience for tenants and visitors alike. Current leases feature annual escalations of 3–5%, supporting attractive in-place returns and projected cap rates between 7.0% and 7.3%. Tenancy includes a church under a three-year agreement and other established businesses, reinforcing the property’s reliability as a cash-flowing investment. With Destin’s robust economic growth and limited supply of mixed-use assets, this property stands out as a strategic acquisition for investors seeking stability and upside potential.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$291 USD /SF

CAP RATE

6.59%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1973

SPRINKLERS

-

PARKING SPACES

32

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,909 SF

ZONING

Mixed use

APN/PARCEL ID

00-2S-22-0310-000H-H082

ASK ABOUT THIS PROPERTY

Neil BarlowBarnoli LLcMore Info
850-255-4008

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Neil BarlowBarnoli LLcMore Info
850-255-4008

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.