28 Old Kings Rd N Palm Coast, FL 32137

This exceptional investment opportunity presents a 6,434 square foot retail property located at 28 Old Kings Rd, Palm Coast, FL 32137. The property boasts a strong tenant lineup, anchored by a corporate-guaranteed Trulieve lease with a remaining term of 8.8 years, expiring August 31, 2033. The lease commenced September 1, 2021, and includes a 2% annual rent increase. The current Net Operating Income (NOI) stands at $210,731, yielding a 7.30% cap rate based on the asking price of $2,886,726. The property is currently 100% occupied, with Trulieve occupying 6,434 square feet and paying $153,811 annually. Additional tenants include Flagler Wellness (1,612 sq ft, lease expiring December 1, 2024) and Doc MJ (1,653 sq ft, lease expiring August 30, 2023). The property features a multi-tenant structure with a strong tenant mix, providing stability and diversification. The building was recently renovated. This investment offers a compelling combination of strong cash flow, long-term lease stability, and significant upside potential due to the built-in rent escalations. The property's location in Palm Coast, Florida, benefits from a robust customer base and high volume of traffic. This is a rare opportunity to acquire a high-performing, multi-tenant retail property with a strong anchor tenant and significant remaining lease term.