407 Fern Palm DrEdgewater, FL 32132
- Industrial properties
- 34,300 SF
Property Details for 407 Fern Palm Dr
- Year built
- 2007
- Property size (Sq ft)
- 34,300 SF
- Property type
- Industrial properties
- Property subtype
- Other warehouses
Description
This exceptional investment opportunity presents a 34,300-square-foot multi-tenant warehouse portfolio in Edgewater, Florida. Comprising two properties at 407 Timaquan Trail (20,800 SF) and 1731 Fern Palm Dr. (13,500 SF), this property offers 21 units ranging from 1,500 to 2,400 square feet, ideal for small bay light industrial users. The Timaquan Trail location boasts 19-foot ceilings and a recently coated roof with a 10-year warranty, supported by a 6-inch thick concrete parking lot. The Fern Palm Drive property features ceiling heights ranging from 12 to 18 feet. Both properties are meticulously maintained, with no deferred maintenance. The portfolio enjoys a strong occupancy rate with month-to-month leases, primarily with long-term tenants. Leases are modified gross, with tenants responsible only for electricity (individually metered). The average lease rate is $10.97 per square foot modified gross, presenting significant upside potential for new ownership. Built in 2007, this single-story complex generates a Net Operating Income (NOI) of $314,165, representing a 5.16% cap rate at an asking price of $6,088,000. Owner expenses for the past year totaled $1.81 per square foot. This is a prime opportunity to acquire a well-maintained, high-performing industrial asset in a desirable location.
Location Insight
- City
- Edgewater
- County
- Volusia
- State
- Florida
- Latitude
- 29.0023
- Longitude
- -80.919
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].