CRESTVIEW — Northview Plaza is on sale for anyone with $4 million. NBI Properties Inc., representing the owners, a local investment group, announced the 60,000-square-foot center's sale this week.
Already, several investors are interested, according to Craig Barrett, NBI's Fort Walton Beach broker.
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"In less than 48 hours we've got like 30 different people from all over the country that have expressed an interest in it and we've sent marketing packages out to them," he said.
Tenants include Amedisys Home Health Services, Azteca Mexican Restaurant, Dollar General, Goodwill Industries, H&R Block, Hair World, Hooka Corner 2, Judicial Correction Services Inc., New World Market, Pizza Hut, Source Institute of Massage Therapy, The Uniform Connection and Trailside Outfitters.
The property is located on the corner of Ferdon Boulevard North and Stillwell Boulevard. Tenants — who monthly pay $8 to $12 per square foot, in addition to net real estate taxes, building insurance and common area maintenance — aren't going anywhere just because of the sale, Barrett said.
"The lease supersedes any transfer or sale," he said. "Don't matter who owns it; it could change hands 25 times, the leases are in place. The only way you can get rid of a lease is if the tenant or landlord breaks the lease."
The center is "priced to sell," and investors should see a minimum 8 to 10 percent return, Barrett said.
This article originally appeared on Crestview News Bulletin: Northview Plaza in Crestview is 'priced to sell'