Commerical Real Estate Investment
Business Description
FULLY LEASED MIXED-USE COMMERCIAL INVESTMENT – DESTIN, FL
114 & 116 Benning Dr, Destin, FL 32541
Asking Price: $1,800,000
NOI: $118,560
Cap Rate: 6.59%
Lot Size: 0.48 Acres
Parking: 32 Spaces
Units: 6 (5 Commercial + 1 Residential)
Barnoli Properties is pleased to present a rare opportunity to acquire a stabilized, fully leased mixed-use commercial asset in the heart of Destin, Florida. The property consists of two buildings and six income-producing units, including five commercial suites and one 2-bedroom, 1-bath residential apartment.
116 Benning Dr features two commercial units leased entirely to a long-term church tenant under a 3-year lease. This provides low-impact, steady income with simplified management.
114 Benning Dr includes four units: A, B, C, and D. Units C & D are connected, and Unit D is a 2BR/1BA apartment, creating a rare and highly desirable live/work configuration. All four leases at 114 Benning renew in February 2026, offering near-term upside by raising rents to market or repositioning tenants.
The property produces $118,560 annually, including NNN reimbursement with 3–5% built-in annual rent increases, enhancing long-term cash flow and value. The site provides 32 parking spaces, exceptional visibility, and close proximity to Highway 98.
Investment Highlights:
• Fully leased mixed-use portfolio in a high-growth coastal market
• 6.59% in-place cap rate with escalations built into leases
• Stable tenant mix including long-term church and residential occupant
• 32 dedicated parking spaces (freshly striped)
• Excellent visibility and access off Benning Dr & Mountain Dr
• High demand for small-bay commercial in Destin
• 0.48-acre parcel with strong long-term appreciation
• Value-add opportunity at 2026 lease rollover
• Well-maintained buildings with attractive curb appeal
This is an ideal opportunity for investors seeking stable cash flow, diversified tenancy, and strong long-term upside in one of Florida’s most desirable coastal markets.
114 & 116 Benning Dr, Destin, FL 32541
Asking Price: $1,800,000
NOI: $118,560
Cap Rate: 6.59%
Lot Size: 0.48 Acres
Parking: 32 Spaces
Units: 6 (5 Commercial + 1 Residential)
Barnoli Properties is pleased to present a rare opportunity to acquire a stabilized, fully leased mixed-use commercial asset in the heart of Destin, Florida. The property consists of two buildings and six income-producing units, including five commercial suites and one 2-bedroom, 1-bath residential apartment.
116 Benning Dr features two commercial units leased entirely to a long-term church tenant under a 3-year lease. This provides low-impact, steady income with simplified management.
114 Benning Dr includes four units: A, B, C, and D. Units C & D are connected, and Unit D is a 2BR/1BA apartment, creating a rare and highly desirable live/work configuration. All four leases at 114 Benning renew in February 2026, offering near-term upside by raising rents to market or repositioning tenants.
The property produces $118,560 annually, including NNN reimbursement with 3–5% built-in annual rent increases, enhancing long-term cash flow and value. The site provides 32 parking spaces, exceptional visibility, and close proximity to Highway 98.
Investment Highlights:
• Fully leased mixed-use portfolio in a high-growth coastal market
• 6.59% in-place cap rate with escalations built into leases
• Stable tenant mix including long-term church and residential occupant
• 32 dedicated parking spaces (freshly striped)
• Excellent visibility and access off Benning Dr & Mountain Dr
• High demand for small-bay commercial in Destin
• 0.48-acre parcel with strong long-term appreciation
• Value-add opportunity at 2026 lease rollover
• Well-maintained buildings with attractive curb appeal
This is an ideal opportunity for investors seeking stable cash flow, diversified tenancy, and strong long-term upside in one of Florida’s most desirable coastal markets.
Listing Information
- Listed by:
- Owner
- Last updated:
- Listing ID:
- 73