New Industrial Building Investment

24 HARGROVE GRADE, Palm Coast, FL 32137

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For Sale

$3,890,000

Newly constructed, fully leased industrial building in Palm Coast, Florida.

Type:Commercial/Industrial

Property size:

20,000 SF

Lot size:

3.00 Acres

Price / SF:

$194/SF

HighLights

Newly constructed (2024) 20,000 sq ft industrial building.
Fully leased with annual increases to the base rate.
Tenants pay operating expenses (CAM, taxes, insurance).
Located in the heart of Palm Coast, with easy access to major highways (US‑1, I‑95, Palm Coast Parkway).
Contains 8 units, each with a 14‑foot roll‑up door, office, restroom, and warehouse space.
All utilities and infrastructure are in place; cross parking easement with 26 Hargrove.

We can help!

Listing Contact

Cornelia Downing Manfre

For Sale

$3,890,000

Newly constructed, fully leased industrial building in Palm Coast, Florida.

Type:Commercial/Industrial

Property size:

20,000 SF

Lot size:

3.00 Acres

Price / SF:

$194/SF

Added:: Dec 28, 2024
Days on Market:: 542
Last Refresh:: May 20 at 1:55 am

Property Features for 24 HARGROVE GRADE

General Information

Standard status: Active
Size: 20,000 SF
Lot size: 3.00 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 2024

We can help!

Listing Contact

Cornelia Downing Manfre

Listing agent Cornelia Downing Manfre License #3008604

Listing office ONE SOTHEBYS INTERNATIONAL

Listing date Dec 28, 2024

Source Exitrealty

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 ONE SOTHEBYS INTERNATIONAL

HighLights

Newly constructed (2024) 20,000 sq ft industrial building.
Fully leased with annual increases to the base rate.
Tenants pay operating expenses (CAM, taxes, insurance).
Located in the heart of Palm Coast, with easy access to major highways (US‑1, I‑95, Palm Coast Parkway).
Contains 8 units, each with a 14‑foot roll‑up door, office, restroom, and warehouse space.
All utilities and infrastructure are in place; cross parking easement with 26 Hargrove.

Overview

Located at 24 Hargrove Grade in Palm Coast, Florida, this newly constructed 20,000 square foot industrial building presents an investment opportunity. Completed in 2024, the property features all necessary utilities and infrastructure. The building is configured with eight individual units. Each unit includes a 14-foot high roll-up door, an office area, a restroom, and warehouse space. The property is fully leased, with annual increases to the base rate. Tenants are responsible for covering the annual operating expenses, including common area maintenance, taxes, and property insurance. A cross parking easement is in place with 26 Hargrove. The property's location provides convenient access to US Highway 1, Interstate 95, and Palm Coast Parkway. Palm Coast, situated in Flagler County, has experienced significant growth in recent years. As of 2024, the city's population is estimated at 106,237. The median age in Palm Coast is 50.3 years, indicating a mature population. The city's strategic location along Florida's east coast, combined with its growing population and economic indicators, makes it an attractive area for industrial and commercial investments. Property financials will be made available to qualified buyers upon submission of a Non Disclosure.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$396.0k	$19.80
− Vacancy	−$87.1k	−$4.36
EGI	$308.9k	$15.44
− OpEx	−$77.2k	−$3.86
NOI	$231.7k	$11.58

20,000 SF · lease $19.80/SF/yr · vacancy 22.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$3.31M

$2.90M – $3.86M (±1% cap)

NOI $231,660 @ 7.0% cap · market cap 5.96%

Second Best

Flex RnD

$3.25M

$2.84M – $3.79M (±1% cap)

NOI $227,255 @ 7.0% cap · market cap 5.84%

Theoretical Best

Office A

$4.81M

$4.21M – $5.61M (±1% cap)

NOI $336,432 @ 7.0% cap · market cap 8.65%

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

Property Profile Location Intelligence

Current Use by Public Records

Flex space

Suggested Use

Location Insight

Map
Local Demand

City: Palm Coast
County: Flagler
State: Florida
Longitude: -81.2723
Latitude: 29.5555

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For sale
Flex space
FL
Palm Coast
32137
24 HARGROVE GRADE

What type of property is this?

Flex space - Newly constructed, fully leased industrial building in Palm Coast, Florida.

Where is this flex space located?

The property is located at 24 HARGROVE GRADE Palm Coast, FL.

What is the asking price?

The asking price for this property is $3,890,000.

What are key features of this property?

This property features: Newly constructed (2024) 20,000 sq ft industrial building.; Fully leased with annual increases to the base rate.; Tenants pay operating expenses (CAM, taxes, insurance).