Mixed-Use Complex with
703 S State Street, Bunnell, FL 32110
For Sale
$1,600,000
Commercial Sale, Bunnell, FL
Property Size8,500 SF
Lot Size5.72 Acres
Price / SF$76.64
Days on Market378
Property Features for 703 S State Street
General Information
Property type
Property subtype
Zoning description
Bathrooms
Full bathrooms
Rooms
Parking features
Accessibility
Lot features
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Mixed-Use Components
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
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Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
Realty Pros Commercial
(386) 253-8565
Listed By:
Terry Sitaram · License FL #3092297
(386) 237-4444
Added: Oct 31, 2025
Changed: Oct 27
Last Checked: Nov 12 at 6:06PM
MLS# 1219480
Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This mixed-use commercial complex contains nine condominium-style units, each approximately 1,200 to 1,400 square feet, along with seven storage units. The units have private entrances, independent electric meters, and individual HVAC systems, supporting office, retail, flex, and light industrial configurations. The property is built with concrete block construction and includes front and side access with on-site parking. A separation agreement governs the jointly owned rear storage area, which includes five units of approximately 250 square feet each and two units of approximately 500 square feet each.
The property is located at 703 S State Street in Bunnell along U.S.-1, with access to I-95 and SR-100. Downtown Bunnell, Palm Coast, and Flagler Beach are minutes away. Public water and public sewer serve the property, and the building dates to 2001. Zoning is I-B, identified as Industrial/Business.
The property is located at 703 S State Street in Bunnell along U.S.-1, with access to I-95 and SR-100. Downtown Bunnell, Palm Coast, and Flagler Beach are minutes away. Public water and public sewer serve the property, and the building dates to 2001. Zoning is I-B, identified as Industrial/Business.
Key Highlights
- Nine condominium‑style commercial units, each approximately 1,200–1,400 SF
- Seven rear storage units: five at approximately 250 SF and two at approximately 500 SF
- I‑B (Industrial/Business) zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$125,612
Cap Rate
7.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,512,240
$2.5M
Cap Rate 7%
$1,794,457
$1.8M
Cap Rate 9%
$1,395,689
$1.4M
Market Conditions
NOI Build-Up for 20,878 SF
Gross rent
$187.9K $9.00/SF
− Vacancy
−$8.5K −$0.41/SF
EGI
$179.4K $8.59/SF
− OpEx
−$53.8K −$2.58/SF
NOI
$125.6K $6.02/SF
Area
Flagler County, FL
Vacancy
4.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,512,240
Cap Rate 7%
$1,794,457
Cap Rate 9%
$1,395,689
Alternative Uses
Best Use
Flex RnD
$3.39M
$2.97M – $3.95M
NOI $237,231 @ 7.0% cap · market cap 14.83%
Second Best
Mixed Use
$3.02M
$2.64M – $3.52M
NOI $211,390 @ 7.0% cap · market cap 13.21%
Theoretical Best
Office A
$5.02M
$4.39M – $5.85M
NOI $351,201 @ 7.0% cap · market cap 21.95%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
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Business Placement
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
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Concrete block commercial property with separate entrances, individual meters, HVAC systems, and flexible unit configurations.
Where is this mixed-use property located?
The property is located at 703 S State Street Bunnell, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Nine condominium‑style commercial units, each approximately 1,200–1,400 SF; Seven rear storage units: five at approximately 250 SF and two at approximately 500 SF; I‑B (Industrial/Business) zoning
