Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    US1 Frontage Commercial Property Title is generated by Realmo AI

    108 N State St, Bunnell, FL 32110

    View on Map
    Claim this Listing
    For Sale
    $329,900

    Commercial property with US1 frontage, suitable for various businesses.

    Property size:
    1,675 SF
    Price / SF:
    $196/SF
    Added:
    Jul 26, 2020
    Days on Market:
    2140
    Last Refresh:
    May 13 at 8:28 pm

    Property Features for 108 N State St

    General Information

    Standard status
    Active
    Size
    1,675 SF
    Property subtype
    Other

    Building Details

    Year Built
    1958

    We can help!

    Listing Contact
    Corey Nedeau

    Listing agent Corey Nedeau

    Listing office Florida Homes Realty & Mortgage

    Listing date Jul 26, 2020

    Source Xome

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Florida Homes Realty & Mortgage

    HighLights

    • Direct US1 frontage in the center of town
    • Zoned B‑2, suitable for small business/daycare or light manufacturing
    • 1000 Sq. Ft. of air conditioned/heated office space and additional 675 sq. ft. of shop area
    • Heavy traffic area near the corner of US1 and SR 100
    • Several separate entrances offer potential for rental income
    • Large brick shed, the original historic dial house for the telephone company

    Overview

    This commercial property features 1000 square feet of air-conditioned and heated office space, along with an additional 675 square feet of shop area. Zoned B-2, it is located in a high-traffic area near the intersection of US1 and SR 100. The property's layout, with two bathrooms and several separate entrances, allows for flexible use, such as operating a business on one side and renting out the other. A large brick shed, originally the historic dial house for the telephone company, is also located on the property. The site is undergoing a government-funded cleanup from a past gas station. The property is suitable for a small business, daycare, or light manufacturing.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $37.2k $22.20
    − Vacancy −$2.8k −$1.67
    EGI $34.4k $20.54
    − OpEx −$10.3k −$6.16
    NOI $24.1k $14.37
    1,675 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $344.0K
    $301.0K – $401.3K (±1% cap)
    NOI $24,077 @ 7.0% cap · market cap 7.30%
    Second Best
    Office B
    $277.2K
    $242.5K – $323.4K (±1% cap)
    NOI $19,402 @ 7.0% cap · market cap 5.88%
    Theoretical Best
    Office A
    $402.5K
    $352.2K – $469.6K (±1% cap)
    NOI $28,176 @ 7.0% cap · market cap 8.54%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    J & M Stainless ... Auto Repair Shop eWheelz Moped Dealer

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Building Supply Hair Salon Big Box & Wholesale Store Pharmacy Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • The Green Thumb Flower & Boutique — 501 N State St #5, Bunnell, FL 32110
    • Ariana's Flower Boutique — 608 N State St, Bunnell, FL 32110
    • Southern Flowers & Gifts — Bunnell, FL 32110

    Location Insight

    • Map
    • Local Demand
    City
    Bunnell
    County
    Flagler
    State
    Florida
    Longitude
    -81.2581208
    Latitude
    29.4663604

    Nearby Similar for Sale

    • $750,000
      2,560 SF

      BUNNELL Farm/Ranch with Modern Home

      Modern home on 5 acres, near Palm Coast and Flagler Beach.
      222 COUNTY ROAD 15, BUNNELL, FL 32110
      View Details
    • $1,100,000
      4,000 SF

      Equestrian Property with Extensive Infrastructure

      9.86-acre equestrian property featuring paddocks, barn, and metal building.
      596 E COUNTY ROAD 90, BUNNELL, FL 32110
      View Details
    • $1,600,000
      20,878 SF

      Bunnell Mixed-Use Investment Opportunity

      Nine-unit commercial complex with storage in a growing area.
      703 S STATE STREET, BUNNELL, FL 32110
      View Details
    • $1,600,000
      20,878 SF

      Bunnell Commercial Mixed-Use Complex

      Nine-unit commercial complex with storage in Bunnell, Florida.
      703 S State Street, Bunnell, FL 32110
      View Details
    • $220,000
      1,600 SF

      Bunnell Warehouse with Mezzanine Office

      Industrial condo with office, warehouse, and mezzanine near Palm Coast.
      2323 N STATE STREET, BUNNELL, FL 32110
      View Details
    • $220,000
      1,600 SF

      Industrial Condo with Mezzanine Office

      1600 SF flex space with office and warehouse.
      2323 N STATE STREET, BUNNELL, FL 32110
      View Details
    • $220,000
      1,600 SF

      BUNNELL Warehouse with Mezzanine Office

      Industrial condo with office, warehouse, and mezzanine near Palm Coast.
      2323 N STATE STREET, BUNNELL, FL 32110
      View Details
    • $3,750,000
      12,960 SF

      Bunnell Warehouse in Industrial Park

      12,960 SF warehouse with high ceilings in Bunnell, FL.
      3405 Steel Rail Drive, Bunnell, FL 32110
      View Details
    • $1,900,000
      3,986 SF

      Showroom and Warehouse on SR 100

      Showroom and warehouse with high visibility on SR 100.
      4720 E MOODY Blvd, Bunnell, FL 32110
      View Details
    • $1,450,000
      8,812 SF

      Bunnell Warehouse with Updated Office

      Commercial warehouse with updated office space on State Road 100.
      2360 E MOODY BOULEVARD, BUNNELL, FL 32110
      View Details
    • $1,600,000

      High-Visibility Multi-Income Commercial Asset

      Multi-unit commercial property with storage, high traffic, and growth potential.
      703 S. State Street, Bunnell, FL 32110
      View Details
    • $220,000
      1,400 SF

      Industrial Condo with Mezzanine Office

      1,000 SF industrial condo with office and warehouse space.
      2323 N STATE St 77, Bunnell, FL 32110
      View Details

    FAQs

    What type of property is this?
    Storefront property - Commercial property with US1 frontage, suitable for various businesses.
    Where is this storefront property located?
    The property is located at 108 N State St Bunnell, FL.
    What is the asking price?
    The asking price for this property is $329,900.
    What are key features of this property?
    This property features: Direct US1 frontage in the center of town; Zoned B‑2, suitable for small business/daycare or light manufacturing; 1000 Sq. Ft. of air conditioned/heated office space and additional 675 sq. ft. of shop area
    (904) 996-9115
    We can help!
    Listing Contact
    Corey Nedeau
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    108 N State St, Bunnell, FL 32110
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!