1 HAMMOCK BEACH PKWY, PALM COAST, FL, 32137
$4,700,000
Commercial Sale
|
Living Area
25,834 Sqft
|
Lot Size
95,832 Sqft
|
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!
Property Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRFC308281 | Year Built: | 2003 | |
| Accessibility Features: | Accessible Entrance | Appliances: | Refrigerator | |
| Building Features: | Bathrooms, Dumpsters, Elevator, Trash Removal | Construction Materials: | Block, Stucco | |
| Cooling: | Central Air | Country: | US | |
| County Or Parish: | Flagler | Direction Faces: | South | |
| Electric: | 200+ Amp Service | Flooring: | Brick, Carpet, Ceramic Tile | |
| Foundation Details: | Slab | Green Indoor Air Quality: | No Smoking-Interior Buildg | |
| Green Water Conservation: | Irrigation-Reclaimed Water | Heating: | Central | |
| Listing Agreement: | Exclusive Right To Sell | Listing Terms: | Cash, Conventional | |
| Parking Features: | Common, Lighted, Over 30 Spaces | Property Sub Type: | Office | |
| Property Type: | Commercial Sale | Road Frontage Type: | City Street | |
| Road Surface Type: | Asphalt, Paved | Security Features: | Fire Alarm, Fire Sprinkler System, Key Card Entry, Security Lights, Security System, Smoke Detector(s) | |
| Sewer: | Public Sewer | Showing Requirements: | Appointment Only | |
| Special Listing Conditions: | None | Standard Status: | Active | |
| State Or Province: | FL | Utilities: | Electricity Available, Phone Available, Water Connected | |
| Water Source: | Public | Window Features: | Double Pane Windows | |
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