407 TIMAQUAN Trl
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407 TIMAQUAN Trl
20,800 SF 100% Leased Industrial Building Edgewater, FL 32132 $3,600,000 ($173.08/SF) 5.63% Cap Rate
INVESTMENT HIGHLIGHTS
- Small Bay Light Industrial
- Extremely Low Tenant Turnover
- Below Market Rents
- Consistent 100% Occupancy
- Competing Properties Minimal
EXECUTIVE SUMMARY
The Timaquan Trail property totals 20,800 sf of small bay light industrial space located in the Parktowne Industrial Complex. Unit sizes are 1600 sf. 407 Timaquan Trail is two buildings totaling 20,800 sf. The ceiling height is 19 feet to the eave. Roof has been recently coated and carries a 10-year warranty. Parking lot is 6” thick concrete.. The property is immaculately maintained with no deferred maintenance. Owner expenses for the properties for the trailing 12 months is $1.77 psf. Property is fully leased on month-to-month leases with mostly long-term tenants. Leases are structured as modified gross leases, with tenants only paying for electricity. Units are metered separately for power. Water is not metered separately. The average lease rate is below market. The current lease structure and pricing allow for tremendous upside for new ownership.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $3,600,000 | Lot Size | 1.45 AC |
| Price Per SF | $173.08 | Rentable Building Area | 20,800 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 5.63% | Year Built | 2007 |
| Property Type | Industrial | Clear Ceiling Height | 19’ |
| Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 24 |
| Building Class | B |
| Price | $3,600,000 |
| Price Per SF | $173.08 |
| Sale Type | Investment |
| Cap Rate | 5.63% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 1.45 AC |
| Rentable Building Area | 20,800 SF |
| No. Stories | 1 |
| Year Built | 2007 |
| Clear Ceiling Height | 19’ |
| No. Drive In / Grade-Level Doors | 24 |
PROPERTY TAXES
| Parcel Number | 7452-22-0A-0033 | Total Assessment | $1,171,688 |
| Land Assessment | $173,951 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $997,737 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
7452-22-0A-0033
Land Assessment
$173,951
Improvements Assessment
$997,737
Total Assessment
$1,171,688
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
ZONING
| Zoning Code | IPUD (Industrial Planned Unit Development) |
| IPUD (Industrial Planned Unit Development) |
CONTACTS
-
Bob Rand, CCIM, SIOR -
Kayden Schaper -
Holly Booth -
Coldwell Banker Commercial Benchmark
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407 TIMAQUAN Trl
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