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205 VL Zeagler Drive

Palatka, FL 32177
  • $425,000
  • STATUS: Active
  • ON SITE: 593 Days
  • MLS #: 1181087
UPDATED: 52 min ago
$425,000
  • 0
    BEDS
  • 1 to 2.5 Acres
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

School Ratings & Info

Description

Appx 1.83 acres of vacant land with infrastructure & shared parking that has a site plan for adding up to 8 medical office units within a complex that has 10 total units now. 6 of those 10 units totaling over 11,200 sf of leasable space can be bought separately or together. See MLS 1128163 . 5 of the units have established medical or lab related uses with business leases in place, tenants been there for years- RECENTLY RENEWED, the Units have 6.3% CAP rate at List Price even with the one vacancy. When fully leased, the CAP rate will increase to over 7%. Hidden Value is in this listing & excess land that can be purchased separately & developed into at least 8 more units. Great investment now. Buy - hold - or add value to the other units as a package

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© 2024 Northeast Florida Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of the Northeast Florida Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than EXIT 1 Stop Realty are marked with the listing broker’s name and detailed information about such listings includes the name of the listing brokers. Data provided is deemed reliable but is not guaranteed. Data last updated 2024-02-28T17:51:22.74.

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205 VL Zeagler Drive Palatka, FL 32177

  • Price: $425,000
  • Status: Active
  • On Site: 593 Days
  • Updated: 52 min ago
  • MLS #: 1181087
0
Beds
0
Baths
0
½ Baths
1 to 2.5 Acres
Acres
Neighborhood:
Palatka
County:
Putnam
Area:
561-GREATER PALATKA
Property Description
Appx 1.83 acres of vacant land with infrastructure & shared parking that has a site plan for adding up to 8 medical office units within a complex that has 10 total units now. 6 of those 10 units totaling over 11,200 sf of leasable space can be bought separately or together. See MLS 1128163 . 5 of the units have established medical or lab related uses with business leases in place, tenants been there for years- RECENTLY RENEWED, the Units have 6.3% CAP rate at List Price even with the one vacancy. When fully leased, the CAP rate will increase to over 7%. Hidden Value is in this listing & excess land that can be purchased separately & developed into at least 8 more units. Great investment now. Buy - hold - or add value to the other units as a package
Exterior Features

Lot Features Other Road Surface Type Asphalt Waterfront YN No

Property Features

Additional Remarks Possible Financing-1031 Exchange: Y Additional Remarks2 Lot Description-Well Drained: Y Additional Remarks3 Current Zoning: CO Association Fee 2000 Association Fee Frequency Annually Association YN Yes Cdd Fee YN No Current Use CommercialOfficeResidential Listing Terms CashConventionalUSDA Loan Possession Negotiable Property Sub Type Unimproved Land Sewer Public Sewer Utilities Cable AvailableElectricity AvailableSewer AvailableWater Available Water Source Public

Listing courtesy of COLDWELL BANKER VANGUARD REALTY: 904-269-7117.


© 2024 Northeast Florida Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of the Northeast Florida Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than EXIT 1 Stop Realty are marked with the listing broker’s name and detailed information about such listings includes the name of the listing brokers. Data provided is deemed reliable but is not guaranteed. Data last updated 2024-02-28T17:51:22.74.

Digital Millennium Copyright Act
 
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13529 Beach Blvd Suite 307A
Jacksonville FL, 32224