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506-508 Houston Ave NW 7,851 SF 100% Leased Office Building Live Oak, FL 32064 $2,995,000 ($381.48/SF) 5.53% Cap Rate
Investment Highlights
- 100% occupancy
- Stabilized cash flow
- New 10-year leases starting in spring 2027
- State of Florida credit tenancy
- Low-management investment
- Ideal 1031 exchange property
Executive Summary
This asset is well suited for 1031 exchange buyers and investors seeking predictable cash flow with minimal management responsibilities. The property's long-standing government tenancy, specialized design, and strategic location near Suwannee Correctional Institution reinforce its importance to the agencies it serves and contribute to tenant retention.
Government-leased assets of this nature are rarely available to the market and are highly sought after for their reliable occupancy and resilience through varying economic cycles.
506-508 Houston Avenue represents a compelling opportunity to acquire a fully leased, government-occupied investment offering stable income, strong credit tenancy, and the potential for long-term capital preservation—qualities that make it an attractive addition to an investment portfolio or an ideal replacement property for a 1031 exchange.
Property Facts
Amenities
- Signage
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
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- Public Administration
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99,999 SF
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Lorem Ipsum
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The Florida Department of Juvenile Justice was established in 1994 as a state agency dedicated to juvenile justice reform. It operates numerous juvenile detention centers across Florida and provides comprehensive services including prevention programs, probation supervision, and residential commitments. The department emphasizes public safety through intervention strategies designed to support at-risk youth. Their services span from early delinquency prevention to community reintegration programs.
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- Public Administration
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99,999 SF
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Lorem Ipsum
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Jan 0000
Florida's largest state agency and third largest prison system in the country. They provide a continuum of services to meet the needs of those entrusted to their care, creating a safe and professional environment with the outcome of reduced victimization, safer communities, and an emphasis on the premium of life.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
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Public Administration | 99,999 SF | - | Lorem Ipsum | Jan 0000 | |
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Public Administration | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $301,143 | |
| Land Assessment | $168,418 | Total Assessment | $469,561 |
Property Taxes
