Carpet One Floor & Home

Investment Overview

NAI Hallmark, as exclusive advisor, is privileged to present the opportunity to acquire a 100% fee simple interest in 36070 Emerald Coast Parkway, Destin, Florida 32541 (the “Property”). The Property consists of a +/- 10,000 square foot retail showroom building situated on 0.57 acres with frontage on Emerald Coast Parkway (US-98), the primary east-west artery through Destin. The building was constructed in 2003 and is 100% leased on a NNN basis to Cook Interiors Destin, LLC, operating as Coastal Carpet & Tile Carpet One Floor & Home, under a brand new seven-year lease. The lease is backed by the personal guaranty of the operator, Joshua Cook, and provides fixed annual rent increases and one five-year renewal option.

Investment Highlights

• NEW SEVEN-YEAR NNN LEASE WITH PERSONAL GUARANTY: The tenant executed a brand new seven-year lease in May 2026, providing a buyer with 6+ years of remaining term and fixed contractual increases that grow base rent from $288,000 to $324,000. The lease is supported by the unconditional personal guaranty of the operator, Joshua Cook, and includes one five-year renewal option at 3% annual increases, giving a buyer a clear, predictable income stream through as late as 2038.
• LIMITED LANDLORD RESPONSIBILITY: The lease is structured as NNN, limiting Landlord risk and exposure to operating expenses. Tenant pays real estate taxes, property insurance and all utilities directly, and is responsible for interior and general maintenance including the parking lot, plumbing, electrical, windows and doors. Landlord obligations are limited to the roof, underground utilities, and HVAC repairs exceeding $5,000, excluding any damage caused by Tenant.
• ESTABLISHED OPERATOR IN A GREAT LOCATION: Coastal Carpet & Tile has served the Emerald Coast since 1999, joined the Carpet One Floor & Home cooperative in 2001, and has been operating from this showroom since 2003, representing more than two decades of continuous flooring retail at this site. The store was voted Best Flooring Store in Destin for 2026 by BusinessRate and maintains a 4.7 out of 5 rating across more than 100 customer reviews.
• EXCELLENT VISIBILITY ON EMERALD COAST PARKWAY (US-98): The Property fronts Emerald Coast Parkway (US-98), Destin’s primary commercial corridor, which carries approximately 54,000 vehicles per day along this stretch. The corridor was recently widened to six lanes from Airport Road east toward Walton County.
• TOURISM AND MILITARY-DRIVEN MARKET: Destin is the leading tourist destination on Florida’s Emerald Coast, and Okaloosa County welcomes approximately 8 million visitors annually. The local economy is further anchored by Eglin Air Force Base, the largest Air Force installation in the world, with military activity generating an estimated $9.2 billion in annual economic impact in the Okaloosa County area. The combination of second-home ownership, short-term rentals, new construction and a stable military population drives consistent demand for flooring, kitchen and bath renovation.
• FLORIDA MARKET WITH NO STATE INCOME TAX: This offering provides the opportunity to invest in the Crestview-Fort Walton Beach-Destin MSA, which has grown from approximately 287,000 residents in 2020 to more than 315,000 in 2026, adding nearly 5,800 residents per year. Florida’s lack of a state income tax continues to attract new residents, businesses and investment capital to the region.