205 Zeagler Drive, Palatka, FL

Business Park for Sale - $1,159,900 - 11,620 Sq. Ft. on 4.5 acres


Agent Info

Thomas Hammond

Property Info

CIMLS#1122099
Location
  205 Zeagler Drive
  Palatka FL 32177
UpdatedJuly 8th, 2022
TypeBusiness Park
Price$1,159,900
Building11,620 Sq. Ft.
Land4.5 acres

Attached Documents


Contact


Property Description

Great Investment and/or 1031 Exchange property with 4 total units totaling over 7770 sf of leasable space. 3 of 4 the units have established business leases in place - been there for years and RECENTLY RENEWED - medical related and other business uses. One other was recently vacated by Quest Diagnostics and could be leased easily. Owner has elected to not lease and let buyer use as own office or lease as they see fit. 6% CAP rate at List Price even with the one vacancy. When that leases, the CAP rate will increase to over 7.5%. Hidden Value in this deal is the excess land that can be purchased separately and developed into at least 8 more units with limited additional parking needed. This is a great investment property. Tenant Occupied in 3 of the 4 units. Appointments required 24 hours in advance. Showings must be accompanied by listing agent. Please do not disturb tenants. This is a quiet listing. No sign on property. No access except with Listing agent or Co-Listing agent.


Financials

6 CAP AT EXISTING NOI

7.5 CAP WHEN TWO VACANCY FILLED