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  • MLS#: FC308281 ( Commercial Sale )
  • Street Address: 1 Hammock Beach Parkway
  • Viewed: 23
  • Price: $4,700,000
  • Price sqft: $182
  • Waterfront: No
  • Year Built: 2003
  • Bldg sqft: 25834
  • Days On Market: 69
  • Additional Information
  • Geolocation: 29.5991 / -81.1912
  • County: FLAGLER
  • City: PALM COAST
  • Zipcode: 32137
  • Subdivision: Ocean Hammock Prcl B3
  • Provided by: PARKSIDE REALTY GROUP
  • Contact: Margaret Jones
  • 386-302-0300
  • mfrmls
  • DMCA Notice
  • Description
    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!
Features
Accessibility Features
  1. Accessible Entrance
Appliances
  1. Refrigerator
Home Owners Association Fee
  1. 0.00
Association Name
  1. Ocean Hammock POA
Carport Spaces
  1. 0.00
Close Date
  1. 0000-00-00
Cooling
  1. Central Air
Country
  1. US
Covered Spaces
  1. 0.00
Electric
  1. 200+ Amp Service
Flooring
  1. Brick
  2. Carpet
  3. Ceramic Tile
Garage Spaces
  1. 0.00
Heating
  1. Central
Insurance Expense
  1. 0.00
Legal Description
  1. 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
Living Area
  1. 25834.00
Area Major
  1. 32137 - Palm Coast
Net Operating Income
  1. 326903.00
Open Parking Spaces
  1. 0.00
Other Expense
  1. 0.00
Parcel Number
  1. 04-11-31-3503-00000-00C0
Parking Features
  1. Common
  2. Lighted
  3. Over 30 Spaces
Property Type
  1. Commercial Sale
Road Frontage Type
  1. City Street
Sewer
  1. Public Sewer
Tax Year
  1. 2024
Township
  1. 11S
Utilities
  1. Electricity Available
  2. Phone Available
  3. Water Connected
Views
  1. 23
Virtual Tour Url
  1. https://www.propertypanorama.com/instaview/stellar/FC308281
Water Source
  1. Public
Year Built
  1. 2003
Zoning Code
  1. PUD