Spacious Commercial Building on
For Sale
$4,950,000
3601 E MOODY Blvd, Bunnell, FL 32110
28,000+ SqFt building on 18+ acres near I-95.
Property Size29,620 SF
Lot Size18.32 Acres
Price / SF$176.79
Days on Market154
Property Features for 3601 E MOODY Blvd
General Information
Standard status
Active
Size
29,620 SF
Lot size
18.32 Acres
Property subtype
Commercial
Building Details
Building Size
29,620 SF
Year Built
1988
Stories
2
Listing Agency:
GREAT EXPECTATIONS REALTY
(904) 806-4274
Listed By:
Jena Dennis · License #BK3387473
(904) 806-4274
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 6:21AM
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 GREAT EXPECTATIONS REALTY
Investment Insights
Based on property information with market context.
This is a rare opportunity to acquire a two-story, steel-frame commercial building with over 28,000 square feet of space, situated on more than 18 acres of land featuring a pond. The property is located on a busy highway and is currently used as a church. The layout includes a main worship area, nurseries, classrooms, offices, a play area, four sets of men's and women's restrooms, a commercial kitchen, and a spacious welcoming area. The property is connected to public water and has its own septic system. Multiple parking areas, two playgrounds, and a 1,200-square-foot storage warehouse are also included. The acreage features wooded areas with a pond, with approximately 13 acres of potential wetlands. The property is in a prime location directly on Moody Blvd and minutes from I-95, US Highway 1, Advent Health Hospital, and Flagler Executive Airport. The roof is original and has some active leaks, and the property is being sold as-is. The building has great bones and could be used for a myriad of different uses, including retail, restaurants, cocktail lounges, hotels, group homes, nursing homes, day care centers, hardware or building supply stores, vehicle sales, private clubhouses, bowling alleys, game rooms, funeral homes, churches, and adult arcade or amusement centers. Seller will consider owner financing for the right buyer with a good down payment.
Key Highlights
- Expansive 28,000+ sqft steel frame commercial building on 18+ acres.
- Prime location on Moody Blvd, minutes from I‑95, US Highway 1, hospital, and airport.
- Versatile property suitable for various uses: retail, restaurants, hotels, churches, and more.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$437,180
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$8,743,600
$8.7M
Cap Rate 7%
$6,245,429
$6.2M
Cap Rate 9%
$4,857,556
$4.9M
Market Conditions
NOI Build-Up for 28,000 SF
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.
Gross rent
$614.9K $21.96/SF
− Vacancy
−$32.0K −$1.14/SF
EGI
$582.9K $20.82/SF
− OpEx
−$145.7K −$5.20/SF
NOI
$437.2K $15.61/SF
Area
Flagler County, FL
Vacancy
5.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$8,743,600
Cap Rate 7%
$6,245,429
Cap Rate 9%
$4,857,556
Alternative Uses
Best Use
Specialty Retail
$6.25M
$5.46M – $7.29M
NOI $437,180 @ 7.0% cap · market cap 8.83%
Second Best
Retail
$5.75M
$5.03M – $6.71M
NOI $402,486 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$6.73M
$5.89M – $7.85M
NOI $471,005 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
39k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 81%
Home Improvements & Furnishings 14%
Electronics 4%
Circle K
Shops & Services
9,725 visits/mo
0.1 miles
Citgo
Shops & Services
9,580 visits/mo
0.5 miles
Dg Ace Hardware
Home Improvements & Furnishings
5,669 visits/mo
0.4 miles
Family Dollar
Shops & Services
4,296 visits/mo
0.2 miles
Citgo
Shops & Services
3,761 visits/mo
0.1 miles
Demographics for 32110, FL
8,776
Population
4,102
Households
2.1
Avg Household Size
45
Median Age
12%
College-Educated
90%
High-School Grad
296.2 sq mi
ZIP Area
30
Density / Sq Mi
$56,277
Median Household Income
$31,600
Median Earnings
$1,213
Median Rent
$221,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Church & religious facility - 28,000+ SqFt building on 18+ acres near I-95.
Where is this church & religious facility located?
The property is located at 3601 E MOODY Blvd Bunnell, FL.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Expansive 28,000+ sqft steel frame commercial building on 18+ acres.; Prime location on Moody Blvd, minutes from I‑95, US Highway 1, hospital, and airport.; Versatile property suitable for various uses: retail, restaurants, hotels, churches, and more.
