Old Kings Plaza 250 Old Kings Rd S 16,441 SF 100% Leased Retail Building Flagler Beach, FL 32136 $2,995,000 ($182.17/SF)

Marcus & Millichap’s TC Retail Group is pleased to present the opportunity to acquire a recently vacant 16,441-square-foot multi-use commercial property situated on 2.00 acres at 250 Old Kings Road South in Flagler Beach. Offered at $182.17/SF, below replacement cost, the property presents a rare opportunity to acquire a sizeable commercial asset in one of Flagler County’s growing coastal corridors. Originally developed in 2006 and offered for sale by the original developer for the first time since construction, the property features a flexible layout that can accommodate a single user or multi-tenant configuration for medical, childcare, education, wellness, office, retail, or other service-oriented uses.
Based on a conservative stabilized rent assumption of $15.00/SF NNN, the property is projected to generate approximately $246,615 in stabilized NOI, resulting in an estimated 8.23% pro forma cap rate, while current market rents average approximately $20.32/SF according to CoStar, providing additional upside potential. Strategically positioned near East Highway 100 and Interstate 95, the site benefits from combined traffic counts exceeding 100,000 vehicles per day, strong surrounding demographics, and proximity to national retailers including Publix, Aldi, Starbucks, Chipotle, Wawa, BJ’s Wholesale Club, AdventHealth, and more. The surrounding market continues to experience strong residential growth, with over 59,144 residents within a five-mile radius and average household incomes exceeding $91,818 within three miles.