23 Hargrove St

Prime Investment Opportunity – Industrial Property with Value-Add Potential

Address: 23 Hargrove Grade, Palm Coast, FL 32137

Property Type: Industrial

Building Size: 6,000 sq. ft.

Land Size: 1.5 Acres

Year Built: 2001

Property Overview:

Located in the heart of Palm Coast, Florida, this 6,000 square foot industrial property presents an exceptional investment opportunity. Situated on a sprawling 1.5-acre lot, this versatile property offers not only current rental income but also significant value-add potential.

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Current Tenants:

1. Mechanic Shop (For Sale): (see listing here $150k https://www.crexi.com/properties/1109242/florida-established-mechanic-shop-in-palm-coast-fl) Occupying 3,000 sq. ft., this well-established mechanic shop presents a unique opportunity for ownership or lease. Its central location within the property ensures high visibility and accessibility.

2. Audio Speaker Repairman: A longstanding tenant, this space is dedicated to audio speaker repair services.

3. Lawnmower Repair Shop: Catering to the community’s landscaping needs, the lawnmower repair shop is a reliable and consistent income generator.

4. Autobody Shop: Providing automotive repair services, this tenant adds to the property’s diversified income stream.

Value-Add Potential:

All current tenants have enjoyed below-market-value rent, offering immediate upside potential for increased rental income. Additionally, there is an opportunity to expand the existing building by relocating the retention pond, seller says there is room to build a second building or add on to the current building of an additional 3,000 sq. ft. of leasable space, further enhancing the property’s revenue potential.

Vacant Land Utilization:

Currently, the vacant land behind the building is a valuable asset, generating monthly income by renting space to boat owners, RV enthusiasts, trailer users, and owners of toy haulers and other vehicles. This adds an extra layer of income diversification to this already compelling investment.

Location:

23 Hargrove Grade is strategically located, providing easy access to major highways and transportation routes, making it ideal for various business operations. It also benefits from a thriving local economy and a growing community.

Don’t miss out on this outstanding opportunity to invest in a well-located industrial property with a strong rental history and substantial value-add potential. Contact us today to schedule a viewing and explore the possibilities of this prime commercial real estate offering in Palm Coast, Florida.