Palatka Value-Add Medical Office Complex
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Palatka Value-Add Medical Office Complex
2 Office Properties Offered at $1,500,000 in Palatka, FL
Investment Highlights
- Dominant positioning less than 1/2 mile from State Road 19, with 20,500 AADT.
- Less than 1/4 Mile from Kay Larkin Airport
- 5.73% AS-IS Cap
- Less than 1/4 Mile from HCA Florida Putnam Hospital
- Diverse tenant mix
- 8.4% PRO-FORMA Cap if Fully Stabilized
Executive Summary
Market Force CRE, as exclusive advisors to the seller, is pleased to present this opportunity to acquire a Value-Add Medical Office Complex in bustling Palatka, Florida. Comprised of two identical Medical Office buildings built in 2001 and 2006, both buildings encompassing 4,646 SF between 3 units each, 6 units total. Currently 5 of 6 units are occupied, with a 5.73% As-is Cap and a 8.4% Fully-Stabilized Cap Rate. Market Force is in the process of transitioning all units to NNN leases and filling vacant units. Unit 5 is available for lease separately. The Owner-occupant is willing to execute a sale-leaseback at closing. Please Reference the attached Offering Memorandum for As-is and Pro-Forma Rent Rolls.
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Property Facts
| Price | $1,500,000 | Number of Properties | 2 |
| Price / SF | $161.43 / SF | Individually For Sale | 0 |
| Cap Rate | 8.40% | Total Building Size | 9,292 SF |
| Sale Type | Investment or Owner User | Total Land Area | 1.90 AC |
| Status | Active |
| Price | $1,500,000 |
| Price / SF | $161.43 / SF |
| Cap Rate | 8.40% |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 9,292 SF |
| Total Land Area | 1.90 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Building 2
6100 Saint Johns Ave, Palatka, FL 32177 |
Office | 4,646 SF | 2001 | - |
|
Building 1
6100 Saint Johns Ave, Palatka, FL 32177 |
Office | 4,646 SF | 2006 | - |
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Palatka Value-Add Medical Office Complex
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