1731 Fern Palm DrEdgewater, FL 32132

Property Details for 1731 Fern Palm Dr

Year built

2000

Construction

WOOD

Lot size

1.70 AC

Property size (Sq ft)

7,200 SF

Zone code

I-1

Property type

Industrial properties

Property subtype

Other warehouses

APN

8402-01-00-2540

APU

840201002540

Description

This exceptional investment opportunity encompasses a two-property portfolio totaling 34,300 square feet of light industrial space within the Parktowne Industrial Complex in Edgewater, Florida. The portfolio consists of three buildings at 1731 Fern Palm Drive (13,500 SF) and two buildings at 407 Timaquan Trail (20,800 SF), situated just three miles apart. Individual unit sizes range from 1,500 to 2,400 square feet, offering flexibility for various tenant needs. The properties boast impressive features including ceiling heights ranging from 12 to 19 feet (eave height), a recently recoated roof with a 10-year warranty, and a durable 6-inch thick concrete parking lot. Both properties are meticulously maintained, exhibiting no deferred maintenance. Currently fully leased on month-to-month agreements, primarily with long-term tenants, the portfolio generates a stable income stream. Leases are structured as modified gross, with tenants responsible only for electricity costs; units are individually metered for power. Water is not separately metered. The average annual lease rate across both properties is $10.97 per square foot, modified gross. Owner expenses for the past twelve months averaged $1.81 per square foot. This portfolio presents a compelling opportunity for investors seeking a well-maintained, income-producing industrial asset in a desirable Florida location. The asking price for this exceptional portfolio is $6,088,000.

• Alternative Use

  Use

  Valuation

  Residential

  $1,958,105

  Hospitality

  $1,793,614

  Educational

  $1,492,266

  Medical

  $1,543,587

  Retail

  $2,321,302

Location Insight

City

Edgewater

County

Volusia

State

Florida

Latitude

28.9725

Longitude

-80.9023

CBSA code

19660

CBSA name

DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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