1731 Fern Palm Dr Edgewater, FL 32132-3592

This exceptional investment opportunity encompasses a two-property portfolio totaling 34,300 square feet of light industrial space within the Parktowne Industrial Complex in Edgewater, Florida. The portfolio consists of three buildings at 1731 Fern Palm Drive (13,500 SF) and two buildings at 407 Timaquan Trail (20,800 SF), situated just three miles apart. Individual unit sizes range from 1,500 to 2,400 square feet, offering flexibility for various tenant needs. The properties boast impressive features including ceiling heights ranging from 12 to 19 feet (eave height), a recently recoated roof with a 10-year warranty, and a durable 6-inch thick concrete parking lot. Both properties are meticulously maintained, exhibiting no deferred maintenance. Currently fully leased on month-to-month agreements, primarily with long-term tenants, the portfolio generates a stable income stream. Leases are structured as modified gross, with tenants responsible only for electricity costs; units are individually metered for power. Water is not separately metered. The average annual lease rate across both properties is $10.97 per square foot, modified gross. Owner expenses for the past twelve months averaged $1.81 per square foot. This portfolio presents a compelling opportunity for investors seeking a well-maintained, income-producing industrial asset in a desirable Florida location. The asking price for this exceptional portfolio is $6,088,000.