600 Zeagler DrPalatka, FL 32177

Property Details for 600 Zeagler Dr

Year built

1991

Construction

WOOD

Lot size

1.00 AC

Property size (Sq ft)

18,636 SF

Property type

Office properties

Property subtype

Office buildings

APN

10-10-26-0000-020.0-001.6

APU

101026000002000016

Description

This exceptional 18,320 square foot medical office building in Palatka, Florida, presents a compelling investment opportunity. Located on a 2.08-acre lot at 600 Zeagler Dr, this Class B property boasts 100% occupancy with two nationally recognized, credit-rated tenants: Hospital Corporation of America (HCA) and Florida Cancer Specialists. The building, constructed in 1991 and renovated in 2017, features a single story and offers 64 parking spaces per 1,000 square feet. The property includes specialized buildouts for cancer treatment, such as lead vaults, a CT scanner room, and a PET scan area. The asking price is $6,362,640, representing a 7.50% cap rate and a price per square foot of $347.31. The Net Operating Income (NOI) is $477,198. Leases are NNN, commencing March 1, 2016. The property enjoys a prime location across from a 99-bed HCA hospital, providing excellent visibility and accessibility. This stabilized, value-add investment is situated in a high-demand area with limited supply, surrounded by other prominent medical practices. An additional 3-acre lot with plans for a 17,600 square foot medical office building is also available. This property offers a rare chance to acquire a well-established, high-performing medical office building in a thriving medical corridor.

• CAP approach

  CAP return

  Valuation

  6%

  $3,208,882

  6.5%

  $2,962,045

  7%

  $2,750,470

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,267,434

  Geo Method

  $1,267,434

• Alternative Use

  Use

  Valuation

  Residential

  $3,672,936

  Hospitality

  $3,364,390

  Educational

  $2,799,132

  Medical

  $2,895,399

  Retail

  $4,354,206

Location Insight

City

Palatka

County

Putnam

State

Florida

Latitude

29.6425

Longitude

-81.6941

CBSA code

37260

CBSA name

PALATKA, FL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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