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703 S State St S 8,611 SF 100% Leased Retail Building Bunnell, FL 32110 $1,600,000 ($185.81/SF) 10.33% Cap Rate

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INVESTMENT HIGHLIGHTS

Prime Multi-Unit Investment Opportunity along busy US-1 / State Street in the heart of Bunnell’s growing business corridor
Separate Storage Income: Rear section features 7 storage units (five × 250 SF, two × 500 SF) jointly owned and income-producing
Lot Size: ± 2.9 acres with ample parking and excellent frontage visibility

9 Condominium-Style Units (approx. 800-–1200 SF each) ideal for office, retail, Showroom 7 storage units
Total Building Area: approx. 8,500 SF (per public record)
Zoning: I-B (Industrial/Business) — flexible for retail, office, or light industrial usesUtilities: Each condo unit has independent electric meter.

EXECUTIVE SUMMARY

Investor Opportunity – High-Visibility Income Property in the City of Bunnell!
Located directly on U.S. 1 (State Street), this solid concrete block commercial complex offers excellent visibility, multiple income streams, and strong upside potential. The property includes nine (9) retail/office storefront units plus seven (7) income-producing storage spaces, most of which are newly renovated and fully leased.
Current gross monthly income is $13,841, with annual taxes of $13,518 and an estimated NOI of approximately $144,000, providing immediate positive cash flow. Leases renew in 2026, with projected income expected to increase to over $16,841 per month, offering built-in appreciation and higher future returns.
Zoned I-B (Industrial/Business), allowing for a variety of commercial uses, this well-maintained property features ample parking, substantial frontage, and stable tenancy. Ideal for an investor or owner-user seeking a high-yield, low-maintenance property in Flagler County’s growing Business corridor.

FINANCIAL SUMMARY (ACTUAL - 2024)	ANNUAL	ANNUAL PER SF
Gross Rental Income	$13,500	$1.59
Other Income	$1,500	$0.18
Vacancy Loss	$500	$0.06
Effective Gross Income	$14,500	$1.70
Net Operating Income	-	-

FINANCIAL SUMMARY (ACTUAL - 2024)

Gross Rental Income
Annual	$13,500
Annual Per SF	$1.59

Other Income
Annual	$1,500
Annual Per SF	$0.18

Vacancy Loss
Annual	$500
Annual Per SF	$0.06

Effective Gross Income
Annual	$14,500
Annual Per SF	$1.70

Net Operating Income
Annual	-
Annual Per SF	-

PROPERTY FACTS

Sale Type

Investment or Owner User

Property Type

Retail

Building Size

8,611 SF

Building Class

Year Built/Renovated

1998/2020

Price

$1,600,000

Price Per SF

$185.81

Cap Rate

10.33%

NOI

$165,280

Percent Leased

100%

Tenancy

Multiple

Building Height

1 Story

Building FAR

0.07

Lot Size

2.90 AC

Zoning

I-B - I-B (Industrial/Business) Future use L-1 Confirm with City

Parking

25 Spaces (2.9 Spaces per 1,000 SF Leased)

Frontage

268’ on State St

24 Hour Access
Corner Lot

Food Court
Pylon Sign

Restaurant
Signage

Storage Space
Air Conditioning

MAJOR TENANTS

Advanced Plumbing Inc
Construction
-
-
-

Retailer
-
-
-

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