203 John Sims Pkwy, Niceville, FL 32578

14 Unit Apartment Building | $2,500,000 ($178,571/Unit) | Niceville, FL 32578

Asking Price $2,500,000

Property Type: Multifamily
Square Feet: 20,262 SF

Listing Contacts

Andrew Green

Property Overview

Spanish Trace Apartments is a 14-unit mixed use building located in Niceville, Florida. Spanish Trace consists of twelve residential units which average 900 square feet, and two commercial units which average 3,037 square feet. The property was constructed in 1973 with concrete construction and is situated on approximately 0.95 acres. The property overlooks the Boggy Bayou which has amazing views and has direct access to the Choctawhatchee Bay. The property also has an adjacent parcel for sale where a new owner can either build additional units or common area amenities.
This property is also being offered together with Crestview Townhomes, a 10-unit townhome property approximately 20 minutes away.
Please contact Andrew Green ([email protected]) to discuss the offering.

Property Details

Class: C
Year Built: 1973
Stories: 2
Lot Size (sq. ft): 41,382 SF
Units: 14

Highlights

Favorable Unit Mix with twelve units, 2 bed/1 bath
Two Commercial Units that are each over 3,000 SF
Below Market Rents offer opportunity to grow income
29 minutes from Elgin Air Force Base and 9 minutes from the Destin-Fort Walton Beach Airport

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