5851 State Rte 100Palm Coast, FL 32164

Property Details for 5851 State Rte 100

Year built

2024

Lot size

1.53 AC

Property size (Sq ft)

7,202 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a newly constructed (2024), 7,202 square foot Miller's Ale House situated on 1.53 acres in Palm Coast, Florida. The property boasts a 15-year absolute NNN lease commencing August 1, 2024, and expiring July 31, 2039, with four 5-year renewal options. The lease includes attractive 2% annual rent increases, starting in the second year, ensuring consistent income growth. The property features 116 parking spaces and is part of the Cornerstone at Seminole Woods retail center, anchored by BJ's Wholesale Club and situated near other national retailers like Chase Bank, Longhorn Steakhouse, and Chick-fil-A. This prime location benefits from its proximity to AdventHealth Palm Coast Hospital, Flagler Palm Coast High School, and the Town Center master-planned community. The property offers a strong 5.50% cap rate based on a current Net Operating Income (NOI) of $350,000 and an asking price of $6,364,000. The building is a single-story Class A structure with 100% occupancy. Palm Coast's rapid population growth and its position as one of Florida's fastest-growing cities make this a compelling investment in a high-demand market. The tenant, Miller's Ale House, is a well-established restaurant chain with 112 locations nationwide, demonstrating financial stability and brand recognition. This offering presents a rare opportunity to acquire a high-performing, long-term net lease investment in a thriving Florida market.

Location Insight

City

Palm Coast

County

Flagler

State

Florida

Latitude

29.4755

Longitude

-81.1961

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