Industrial Condo with Roll-Up
2323 N STATE STREET Unit 76 Bunnell, FL 32110
For Sale
$220,000
Condo unit with roll-up door, office space, ADA restroom, and full air conditioning.
Property Size1,600 SF
Price / SF$137.50
Days on Market81
Property Features for 2323 N STATE STREET Unit 76
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Business Opportunities
Building Details
Year Built
2006
Listing Agency:
WATSON REALTY CORP (PC)
(386) 246-9222
Listed By:
Carol Carroll · License #3530074
Source:
Xome
Added: May 10
Changed: Jul 29
Last Checked: Jul 29 at 5:46AM
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 (PC)
Investment Insights
Based on property information with market context.
Industrial condominium Unit 76 features a glass front with a glass entry door and a 10’ wide roll-up door. The 1,000 SF unit includes a 200 SF office area and an 800 SF warehouse space, plus a second-floor 400 SF mezzanine office. Improvements include high ceilings, an ADA restroom, and full air conditioning.
The property is centrally located in Flagler County, just west of Palm Coast, with access to SR 100 and Palm Coast Pkwy via US-1. The condominium association dues are $135 per month and cover building insurance, common area maintenance, parking lot lighting, landscaping, and related items.
Automotive services are not allowed under condominium rules, though owners and tenants may service their own vehicles within the units. Two adjacent units are also available for purchase to create contiguous space, and Unit 76 is tenant occupied through September 30, 2026.
The property is centrally located in Flagler County, just west of Palm Coast, with access to SR 100 and Palm Coast Pkwy via US-1. The condominium association dues are $135 per month and cover building insurance, common area maintenance, parking lot lighting, landscaping, and related items.
Automotive services are not allowed under condominium rules, though owners and tenants may service their own vehicles within the units. Two adjacent units are also available for purchase to create contiguous space, and Unit 76 is tenant occupied through September 30, 2026.
Key Highlights
- Industrial condo unit (Unit 76) built in 2006 with a glass entry and a 10’ wide roll‑up door
- 1,000 SF total layout: 200 SF office, 800 SF warehouse, plus a 400 SF second‑floor mezzanine office
- Includes ADA restroom and full air conditioning (central air)
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 | $30.3k | $18.96 |
| − Vacancy | −$2.4k | −$1.48 |
| EGI | $28.0k | $17.48 |
| − OpEx | −$9.8k | −$6.12 |
| NOI | $18.2k | $11.36 |
1,600 SF · lease $18.96/SF/yr · vacancy 7.80% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$259.7K
$227.3K – $303.0K
NOI $18,180 @ 7.0% cap · market cap 8.26%
Second Best
Warehouse
$183.8K
$160.9K – $214.5K
NOI $12,868 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$384.5K
$336.4K – $448.6K
NOI $26,915 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- WORLD PLATE Caterer — 2323 N State St UNIT 55, Bunnell, FL 32110
Frequently Asked Questions
What type of property is this?
Flex space - Condo unit with roll-up door, office space, ADA restroom, and full air conditioning.
Where is this flex space located?
The property is located at 2323 N STATE STREET Unit 76 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: Industrial condo unit (Unit 76) built in 2006 with a glass entry and a 10’ wide roll‑up door; 1,000 SF total layout: 200 SF office, 800 SF warehouse, plus a 400 SF second‑floor mezzanine office; Includes ADA restroom and full air conditioning (central air)
