Industrial Condo with Mezzanine
2323 N STATE St 77 Bunnell, FL 32110
2323 N STATE St 77, Bunnell, FL, 32110
$220,000
Pending
For Sale
$220,000
Pending
1,000 SF industrial condo with office and warehouse space.
Property Size1,400 SF
Days on Market69
Property Features for 2323 N STATE St 77
General Information
- Standard status
- Pending
- Size
- 1,400 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 2006
Listing agency
Watson Realty Corp
(386) 290-0613
Listed by
Carol Carroll · License #3530074
(386) 290-0613
Source
Elliman
Added: May 14 Updated: Jul 10 at 3:57PM Checked: Jul 21 at 5:54AM
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 Watson Realty Corp
Investment Insights
Based on property information with market context.
This industrial condominium, Unit 77, features a glass front and entry door, along with a 10-foot wide roll-up door. The 1,000 square foot unit includes a 200 square foot office area and an 800 square foot warehouse space. Additionally, there is a 400 square foot mezzanine office on the second floor. The unit is equipped with high ceilings, an ADA restroom, and full air conditioning. The condo association dues are $135 per month, covering building insurance, common area maintenance, parking lot lighting, and landscaping. The property is centrally located in Flagler County, just west of Palm Coast, and is situated minutes from SR 100 and Palm Coast Parkway via US-1. This location is suitable for office, retail, building trades, showroom, warehouse, distribution, and personal storage purposes. Automotive services are restricted under condominium rules, although owners and tenants can service their own vehicles within the units. Two adjacent units are also available for purchase, offering a potential contiguous space of 3,200 to 5,400 square feet.
Key Highlights
- Centrally located in Flagler County, minutes from major roadways.
- Versatile 1000 SF industrial condo suitable for office, retail, warehouse, showroom, distribution, or personal storage.
- Features a 200 SF office, 800 SF warehouse space, and a 400 SF mezzanine office.
Local Financial Insights For Flex RnD
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 | $26.5k | $18.96 |
| − Vacancy | −$2.1k | −$1.48 |
| EGI | $24.5k | $17.48 |
| − OpEx | −$8.6k | −$6.12 |
| NOI | $15.9k | $11.36 |
1,400 SF · lease $18.96/SF/yr · vacancy 7.80% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$227.3K
$198.9K – $265.1K
NOI $15,908 @ 7.0% cap · market cap 7.23%
Second Best
Warehouse
$160.9K
$140.8K – $187.7K
NOI $11,260 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$336.4K
$294.4K – $392.5K
NOI $23,550 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Big Johns Appliances
Home Appliance Store
Executive Barbers
Barber Shop
The Bike Men of Flagler ...
Volunteer Organization
“Doing Me Hair ...
Hair Salon
Refuge Bible Fellowship
Church
Similar For Sale Nearby
Similar Off Market Nearby
- WORLD PLATE Caterer — 2323 N State St UNIT 55, Bunnell, FL 32110
FAQs
What type of property is this?
Flex space - 1,000 SF industrial condo with office and warehouse space.
Where is this flex space located?
The property is located at 2323 N STATE St 77 Bunnell, FL.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Centrally located in Flagler County, minutes from major roadways.; Versatile 1000 SF industrial condo suitable for office, retail, warehouse, showroom, distribution, or personal storage.; Features a 200 SF office, 800 SF warehouse space, and a **400 SF mezzanine office**.
