Marcus & Millichap?is pleased to present?5177 Stewart Street, a value-add, multi-tenant retail investment opportunity located in the heart of Milton, Florida. Situated along a high-visibility commercial corridor, the property offers excellent exposure within the?Stewart Street Corridor Residential-Commercial Mixed-Use (SSC-RC) zoning district, allowing for a wide range of future use potential. The asset consists of a?6,598-square-foot concrete block and brick building? on?0.25 acres?of land with approximately?75 feet of frontage?on Stewart Street. Built in 1950 and updated in 1980, the building is currently?67% leased?to two tenants, with?one vacancy?providing immediate lease-up potential. The?existing leases are significantly below market, presenting a clear path to upside through future renewals or re-tenanting at current market rates. In addition to tenant income, the property includes a?billboard installed in 2006, which generates?supplemental advertising revenue, a rare feature that adds a steady, passive income stream to the asset’s performance.
This offering presents a compelling opportunity for investors seeking an accessible entry point into the Milton market with?multiple avenues for value creation, including:
Lease-up of existing vacancy
Marking rents to market upon turnover or renewal
Capitalizing on the property’s zoning flexibility
Billboard advertising income