Sarasota's Premier Homes

1 HAMMOCK BEACH PARKWAY

PALM COAST , FL 32137

MLS#: FC308281

$4,700,000

Status: Active
Listing number: FC308281
Listing provided by: PARKSIDE REALTY GROUP
Listing agent phone: None
Last update: 24 days ago
On site: 4 months ago
Browse Properties
OCEAN HAMMOCK PRCL B-3 - Commercial Sale

Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

2003

Sq.Footage

25,834

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 & Amenities

Interior

  • Other Interior Features

    Elevator

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Cooling YN

    YES

  • Cooling

    N/A

  • Heating YN

    YES

  • Heating

    Central

Exterior

  • Garage

    No

  • Construction Materials

    Block, Stucco

  • Parking

    Common, Lighted

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    2.2

  • Property Type

    Commercial Sale

  • Property Sub Type

    Office

Price

  • Sales Price

    $4,700,000

  • Tax Amount

    30745.99

  • Sq. Footage

    25, 834

  • Price/SqFt

    $181

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • Accessibility Features

    Accessible Entrance

  • Foundation Details

    Slab

  • Ownership

    Sole Proprietor

  • Sewer

    Public Sewer

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Location

County

Flagler

Elementary School

Middle School

High School

Listing Courtesy of Margaret Jones , PARKSIDE REALTY GROUP

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Agent MichaelGraf

Business Coach | Executive Sales Associate | Realtor®

MichaelGraf

Call Michael today to schedule a private showing.

(941) 315-6980

michael@thegrafgroupvip.com


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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!

1 HAMMOCK BEACH PARKWAY

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