961687 Gateway BlvdFernandina Beach, FL 32034

  • Office properties
  • 3,230 SF
For Sale
$625,000 View listing

Property Details for 961687 Gateway Blvd

Year built
2003
Property size (Sq ft)
3,230 SF
Property type
Office properties
Property subtype
Other office properties
APN
00-00-30-026G-101A-0000
APU
000030026G101A0000

Description

This exceptional Class A medical office building presents a compelling investment opportunity in the thriving Fernandina Beach, Florida market. Located at 961687 Gateway Blvd, Suite 101K, 32034, this 1,627 square foot property is currently 100% occupied by Elase Med Spa under an absolute NNN lease expiring December 31, 2033, offering a substantial remaining lease term of 9.1 years. The property boasts a strong 6.77% cap rate and a Net Operating Income (NOI) of $42,302, representing a stable and attractive return on investment. The tenant, Elase Med Spa, commenced occupancy on July 14, 2023, demonstrating recent commitment to the location. This single-tenant stabilized investment offers a low-risk, high-reward opportunity for discerning investors seeking a consistent income stream in a desirable coastal Florida location. The property's prime location within Nassau County ensures high visibility and accessibility, further enhancing its investment potential. This is an exceptional opportunity to acquire a well-performing asset with a long-term lease and significant upside potential in a growing market. The asking price for this turnkey investment is $625,000.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $516,800
    6.5%
    $477,046
    7%
    $442,971
  • Comparable approach

    Method
    Valuation
    Relative Method
    $219,672
    Geo Method
    $219,672
  • Alternative Use

    Use
    Valuation
    Residential
    $591,537
    Hospitality
    $541,845
    Educational
    $450,809
    Medical
    $466,313
    Retail
    $701,258
961687 Gateway Blvd, Fernandina Beach, Florida

Location Insight

City
Fernandina Beach
County
Nassau
State
Florida
Latitude
30.6304
Longitude
-81.4718
CBSA code
27260
CBSA name
JACKSONVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$10,702
-
$578,170
$578,170
-
-
$578,170
$578,170

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