For Sale
$3,600,000

3895 L.m. Gaines BlvdStarke, FL 32091

Net Leased Warehouse, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple, Class B industrial warehouse located at 3895 L.M. Gaines Blvd, Starke, FL 32091. The property boasts 30,000 square feet of net rentable space within a 31,544-square-foot building situated on a 3.6-acre lot in the Bradford County Enterprise Park, conveniently off US Highway 100. Built in 1993, the warehouse features three loading docks with three dock-high doors and ceiling heights ranging from 22 to 24 feet. Currently 100% occupied under an absolute NNN lease with a single tenant, the lease commenced November 12, 2024, and expires October 31, 2034, with two five-year renewal options. The lease includes a 3% annual rent increase. The property's Net Operating Income (NOI) is $247,200, making it an attractive investment with a strong return. The asking price is $3,600,000. The ample lot size offers potential for future expansion of approximately 18,000 square feet. This property is zoned for light industrial use.

Highlights

  • $3,600,000 asking price for a Net Lease industrial warehouse.
  • 30,000 square feet of net rentable space in a 31,544 square foot building.
  • Located at 3895 L.M. Gaines Blvd, Starke, FL 32091, on a 3.6-acre lot.
  • 100% occupancy with a tenant, Theory Wellness, under an Absolute NNN lease commencing November 12, 2024, and expiring October 31, 2034, with two 5-year options.
  • $247,200 annual NOI with 3% annual rent bumps.
  • Features include 3 loading docks, 3 dock-high doors, and 22'-24' ceiling heights.

Property Details for 3895 L.m. Gaines Blvd

Property type
Warehouses, Industrial properties
Square Feet
31,544 SF
Class
B
Year Built/Renovated
1993/1993
Buildings
1
Lot Size (sq. ft)
156,816 SF

Location Insight

City
Starke
County
Bradford
State
Florida
Latitude
29.9323973
Longitude
-82.1072441
3895 L.m. Gaines Blvd, Starke, Florida

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3895 L.m. Gaines Blvd
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