Industrial Condo with Mezzanine
76-2323 N State St Bunnell, FL 32110
76-2323 N State St, Bunnell, FL, 32110
$220,000
For Sale
$220,000
Industrial condominium unit with glass front, 10' roll-up door, ADA restroom, full air conditioning, and a mezzanine office.
Property Size1,000 SF
Price / SF$220
Days on Market72
Property Features for 76-2323 N State St
General Information
- Standard status
- Active
- Size
- 1,000 SF
Listing agency
WATSON REALTY CORPORATION
(386) 290-0613
Listed by
CAROL E CARROLL · License #3530074
(386) 290-0613
Source
Exprealty
Added: May 12 Updated: Jul 21 at 10:57PM Checked: Jul 21 at 10:57PM
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 CORPORATION
Investment Insights
Based on property information with market context.
Industrial condominium Unit 76 includes a glass front and glass entry door, plus a 10' wide roll-up door. The 1,000 SF layout provides 200 SF of office space and 800 SF of warehouse area, with additional 400 SF office space on a second-floor mezzanine. The unit also has 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 within minutes. Condo association dues are $135/month and cover building insurance, common area maintenance, parking lot lighting, and landscaping.
Condominium rules do not allow automotive services; however, owners and tenants may service their own vehicles within the units. Tenant occupancy runs through September 30, 2026, with a one-year renewal option. Two adjacent units are also available for purchase to create contiguous space ranging from 3,200 to 5,400 SF.
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 within minutes. Condo association dues are $135/month and cover building insurance, common area maintenance, parking lot lighting, and landscaping.
Condominium rules do not allow automotive services; however, owners and tenants may service their own vehicles within the units. Tenant occupancy runs through September 30, 2026, with a one-year renewal option. Two adjacent units are also available for purchase to create contiguous space ranging from 3,200 to 5,400 SF.
Key Highlights
- 1,000 SF industrial condo unit with 200 SF office, 800 SF warehouse, and 400 SF second‑floor mezzanine office
- Glass front with glass entry door plus a 10' wide roll‑up door
- ADA restroom and full air conditioning
Local Financial Insights For Office B
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 | $19.8k | $19.80 |
| − Vacancy | −$4.4k | −$4.36 |
| EGI | $15.4k | $15.44 |
| − OpEx | −$3.9k | −$3.86 |
| NOI | $11.6k | $11.58 |
1,000 SF · lease $19.80/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$165.5K
$144.8K – $193.1K
NOI $11,583 @ 7.0% cap · market cap 5.27%
Second Best
Flex RnD
$162.3K
$142.0K – $189.4K
NOI $11,363 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$240.3K
$210.3K – $280.4K
NOI $16,822 @ 7.0% cap · market cap 7.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Industrial condominium unit with glass front, 10' roll-up door, ADA restroom, full air conditioning, and a mezzanine office.
Where is this flex space located?
The property is located at 76-2323 N State St 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: 1,000 SF industrial condo unit with 200 SF office, 800 SF warehouse, and 400 SF second‑floor mezzanine office; Glass front with glass entry door plus a 10' wide roll‑up door; ADA restroom and full air conditioning
