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1 Hammock Beach Parkway, PALM COAST, FL 32137
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  • MLS#: FC308281 ( Commercial Sale )
  • Street Address: 1 Hammock Beach Parkway
  • Viewed: 21
  • Price: $4,700,000
  • Price sqft: $182
  • Waterfront: No
  • Year Built: 2003
  • Bldg sqft: 25834
  • Days On Market: 17
Description
Fully leased Iconic office building with strong operating history located in the highly coveted Hammock area of Palm Coast. Originally constructed as the sales center for Hammock Beach and Ocean Hammock, the facility is first class. Impressive 5K+ sf lobby has not been allocated among seven tenant's leases as a core factor, so there is an immediate opportunity for additional income over current NOI. Operating numbers for 2024 are actual, and pricing reflects a 7 cap rate. At under $200/sf, this building could not be replicated. The roof was replaced in 2023/24 and all HVAC units are updated as well. There is not a better city in Florida for commercial real estate investment! Palm Coast has experienced substantial growth in recent years. As of 2024, the city's population is estimated at 106,000. The local economy is diverse, with key employment sectors including healthcare, retail trade, hospitality and food services. The city's proximity to Jacksonville, Orlando, and the Space Coast provides businesses with access to a highly educated and skilled workforce. Palm Coast is just 60 miles south of Jacksonville and 80 miles northeast of Orlando enabling it to draw significant business from these larger markets. Don't miss the premier investment opportunity in fast growing, desirable Palm Coast. Call to make an appointment and see this upscale, profitable facility for yourself!
Description
Fully leased Iconic office building with strong operating history located in the highly coveted Hammock area of Palm Coast. Originally constructed as the sales center for Hammock Beach and Ocean Hammock, the facility is first class. Impressive 5K+ sf lobby has not been allocated among seven tenant's leases as a core factor, so there is an immediate opportunity for additional income over current NOI. Operating numbers for 2024 are actual, and pricing reflects a 7 cap rate. At under $200/sf, this building could not be replicated. The roof was replaced in 2023/24 and all HVAC units are updated as well. There is not a better city in Florida for commercial real estate investment! Palm Coast has experienced substantial growth in recent years. As of 2024, the city's population is estimated at 106,000. The local economy is diverse, with key employment sectors including healthcare, retail trade, hospitality and food services. The city's proximity to Jacksonville, Orlando, and the Space Coast provides businesses with access to a highly educated and skilled workforce. Palm Coast is just 60 miles south of Jacksonville and 80 miles northeast of Orlando enabling it to draw significant business from these larger markets. Don't miss the premier investment opportunity in fast growing, desirable Palm Coast. Call to make an appointment and see this upscale, profitable facility for yourself!
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  •   Principal & Interest -
  •   Property Tax $
  •   Home Insurance $
  •   HOA Fees $
  •   Mortgage Insurance-

  •   Monthly -
Features
Building and Construction
  • Covered Spaces: 0.00
  • Flooring: Brick, Carpet, Ceramic Tile
  • Living Area: 25834.00
Garage and Parking
  • Garage Spaces: 0.00
  • Open Parking Spaces: 0.00
  • Parking Features: Common, Lighted, Over 30 Spaces
Eco-Communities
  • Water Source: Public
Utilities
  • Carport Spaces: 0.00
  • Cooling: Central Air
  • Electric: 200+ Amp Service
  • Heating: Central
  • Road Frontage Type: City Street
  • Sewer: Public Sewer
  • Utilities: Electricity Available, Phone Available, Water Connected
Finance and Tax Information
  • Home Owners Association Fee: 0.00
  • Insurance Expense: 0.00
  • Net Operating Income: 326903.00
  • Other Expense: 0.00
  • Tax Year: 2024
Other Features
  • Accessibility Features: Accessible Entrance
  • Appliances: Refrigerator
  • Association Name: Ocean Hammock POA
  • Country: US
  • Legal Description: OCEAN HAMMOCK PARCEL B-3 PARCEL C 2.20 AC (COMMERCIAL) OR 631 PG 486 OR 1498 PG 22 OR 1887/74 OR 1938/1888 OR 1939/1888-CD OR 1944/723 OR 1973/814 OR 2122/1742
  • Area Major: 32137 - Palm Coast
  • Parcel Number: 04-11-31-3503-00000-00C0
  • Views: 21
  • Zoning Code: PUD
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Contact Info

Headshot for Associate Frank Filippelli
  1. Frank Filippelli, Broker,CDPE,CRS,REALTOR ®
  2. Southern Realty Ent. Inc.
  3. Quality Service for Quality Clients
  4. Mobile: 407.448.1042
  5. frank4074481042@gmail.com