Industrial Condo Unit with
77-2323 N State St Bunnell, FL 32110
77-2323 N State St, Bunnell, FL, 32110
$220,000
Pending
For Sale
$220,000
Pending
Industrial condo with office, warehouse, and mezzanine space.
Property Size1,400 SF
Days on Market72
Property Features for 77-2323 N State St
General Information
- Standard status
- Pending
- Size
- 1,400 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 10 at 3:57PM Checked: Jul 19 at 7:56AM
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.
This industrial condominium unit 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. Centrally located in Flagler County, just west of Palm Coast, the property is minutes from SR 100 and Palm Coast Parkway via US-1. It is suitable for office, retail, building trades, showroom, warehouse, distribution, and personal storage. Automotive services are restricted under condominium rules, although owners and tenants can service their own vehicles within the units. The unit is tenant occupied through December 31, 2026.
Key Highlights
- Centrally located in Flagler County, minutes from SR 100 and Palm Coast Pkwy via US‑1.
- 1000 SF unit with 200 SF office, 800 SF warehouse, and 400 SF mezzanine office.
- Features include glass front, glass entry door, 10' wide roll‑up door, high ceilings, ADA restroom, and full air conditioning.
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
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Industrial condo with office, warehouse, and mezzanine space.
Where is this flex space located?
The property is located at 77-2323 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: Centrally located in Flagler County, minutes from SR 100 and Palm Coast Pkwy via US‑1.; 1000 SF unit with **200 SF office, 800 SF warehouse, and 400 SF mezzanine office.**; Features include **glass front, glass entry door, 10' wide roll‑up door, high ceilings, ADA restroom, and full air conditioning.**
