Active

$4,700,000

Features:
  • Bedrooms
  • 0 Bathrooms
  • 25834 sq ft
Overview
  • ID: MFRFC308281
  • Bedrooms:
  • Bathrooms: 0
  • Size: 25834 sq ft
Property Details
Remarks
Fully leased Iconic office building with strong operating history located in the highly coveted Hammock area of Palm Coast. Originally constructed as the sales center for Hammock Beach and Ocean Hammock, the facility is first class. Impressive 5K+ sf lobby has not been allocated among seven tenant's leases as a core factor, so there is an immediate opportunity for additional income over current NOI. Operating numbers for 2024 are actual, and pricing reflects a 7 cap rate. At under $200/sf, this building could not be replicated. The roof was replaced in 2023/24 and all HVAC units are updated as well. There is not a better city in Florida for commercial real estate investment! Palm Coast has experienced substantial growth in recent years. As of 2024, the city's population is estimated at 106,000. The local economy is diverse, with key employment sectors including healthcare, retail trade, hospitality and food services. The city's proximity to Jacksonville, Orlando, and the Space Coast provides businesses with access to a highly educated and skilled workforce. Palm Coast is just 60 miles south of Jacksonville and 80 miles northeast of Orlando enabling it to draw significant business from these larger markets. Don't miss the premier investment opportunity in fast growing, desirable Palm Coast. Call to make an appointment and see this upscale, profitable facility for yourself!
Financial Considerations
Price:
$4,700,000
HOA Fee:
N/A
Tax Amount:
$30745.99
Price per SqFt:
$181.93
Tax Legal Description:
OCEAN HAMMOCK PARCEL B-3 PARCEL C 2.20 AC (COMMERCIAL) OR 631 PG 486 OR 1498 PG 22 OR 1887/74 OR 1938/1888 OR 1939/1888-CD OR 1944/723 OR 1973/814 OR 2122/1742
Exterior Features
Lot Size:
95832
Lot Features:
N/A
Waterfront:
No
Parking Spaces:
N/A
Parking:
Common, Lighted, Over 30 Spaces
Roof:
N/A
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
Bathrooms:
0
Heating:
Central
Cooling:
Central Air
Appliances:
Refrigerator
Furnished:
No
Floor:
Brick, Carpet, Ceramic Tile
Levels:
N/A
Additional Features
Property Sub Type:
Office
Style:
N/A
Year Built:
2003
Construction Type:
Block, Stucco
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
South
Pets Allowed:
No
Special Condition:
None
Additional Features:
N/A
Additional Features 2:
N/A
Map
  • Address
    1 HAMMOCK BEACH PKWY
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