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State of FL DOC Building 29-31 Coburn Ave 16,826 SF Office Building Orlando, FL 32805 $2,623,000 ($155.89/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- 18,000 Square Foot Single-Tenant Office Building (16,826 RSF) | 100% Leased to Department of Corrections
- Recently Executed a Long-Term, Stay-in-Place Lease (Running Through 10/31/31)
- Established and Essential Location for State of Florida DOC (Tenant in Building Since 2005)
- State of Florida Guaranteed Lease | Provides Stable & Predictable Cashflow for Years to Come
- Extensive/Recent Remodel to Meet Tenant’s Needs
- 86 Parking Spaces | Parking Ratio = 5/1,000 SF (75 Spaces Required Under the Lease)
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Office
Building Size
16,826 SF
Building Class
C
Year Built/Renovated
1957/2023
Price
$2,623,000
Price Per SF
$155.89
Cap Rate
8%
NOI
$209,840
Tenancy
Single
Building Height
1 Story
Typical Floor Size
16,826 SF
Building FAR
0.29
Lot Size
1.33 AC
Opportunity Zone
Yes
Zoning
IG
Parking
100 Spaces (5.94 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Security System
- Accent Lighting
- Energy Performance Rating - B
- Reception
- Central Heating
- Partitioned Offices
- Drop Ceiling
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 27-2229-5573-03-000 | Improvements Assessment | $2,059,120 |
| Land Assessment | $254,766 | Total Assessment | $2,313,886 |
PROPERTY TAXES
Parcel Number
27-2229-5573-03-000
Land Assessment
$254,766
Improvements Assessment
$2,059,120
Total Assessment
$2,313,886
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State of FL DOC Building | 29-31 Coburn Ave
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