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26 Office Park Dr 6,090 SF 100% Leased Office Building Palm Coast, FL 32137 $1,350,000 ($221.67/SF) 6.98% Cap Rate
INVESTMENT HIGHLIGHTS
- New Roof
- Lease Back Option
- Ample Parking
EXECUTIVE SUMMARY
Office building for sale divided for 2 separate businesses. Ideal for medical or general office. Currently used by tax & accounting business (4,00 square feet ) and a building contractor that occupies 2500 square feet on north side. Each business has its own entrance and electric meters. Owner occupies 4,000 square feet of the building and is flexible to consider a lease back, subdividing, or vacating if the buyer needs the space. New roof in 2025 and freshly paved parking lot with ample parking. Excellent location in the center of Palm Coast, close to the Community Center, shopping and easy access to I95 and Palm Coast Parkway. South side includes 12 offices, customer and staff bathrooms, lobby, reception area, conference room, break room, and storage. Northside includes 5 offices, conference room, 2 bathrooms, break room, reception, and lobby area. The building is in excellent condition and located in the Palm Harbor Office Park with complimentary businesses nearby. If preferred occupants can stay which will is a nice investment opportunity generating a net income of $95,600 annually.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$135,600
|
$22.27
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$135,600
|
$22.27
|
| Taxes |
$12,000
|
$1.97
|
| Operating Expenses |
$28,000
|
$4.60
|
| Total Expenses |
$40,000
|
$6.57
|
| Net Operating Income |
$95,600
|
$15.70
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $135,600 |
| Annual Per SF | $22.27 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $135,600 |
| Annual Per SF | $22.27 |
| Taxes | |
|---|---|
| Annual | $12,000 |
| Annual Per SF | $1.97 |
| Operating Expenses | |
|---|---|
| Annual | $28,000 |
| Annual Per SF | $4.60 |
| Total Expenses | |
|---|---|
| Annual | $40,000 |
| Annual Per SF | $6.57 |
| Net Operating Income | |
|---|---|
| Annual | $95,600 |
| Annual Per SF | $15.70 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
6,090 SF
Building Class
B
Year Built
1995
Price
$1,350,000
Price Per SF
$221.67
Cap Rate
6.98%
NOI
$94,250
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
6,090 SF
Building FAR
0.47
Lot Size
0.30 AC
Zoning
OFC-2 - Office complex
Parking
25 Spaces (4.11 Spaces per 1,000 SF Leased)
AMENITIES
- Security System
- Reception
- Storage Space
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 07-11-31-7003-000A0-011A | Total Assessment | $677,000 (2024) |
| Land Assessment | $0 (2024) | Annual Taxes | $12,000 ($1.97/SF) |
| Improvements Assessment | $677,000 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
07-11-31-7003-000A0-011A
Land Assessment
$0 (2024)
Improvements Assessment
$677,000 (2024)
Total Assessment
$677,000 (2024)
Annual Taxes
$12,000 ($1.97/SF)
Tax Year
2025
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