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Office Warehouse

Live Oak Industrial Park

140 Palm Ave NE, Live Oak, FL 32064

Listing Price: $3,400,000

Cap Rate
6.08%
Gross SF
53,260
Price/Gross SF
$63.84
Lot Size
6.56 acres
Year Built
1971
Rentable SF
49,574

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the Live Oak Industrial Park ("the Property") for sale. Located in Live Oak, this 53, 260 square foot industrial park includes 5 buildings on 6.56 acres. The Western two buildings are separately secured for individual tenants: Hinton Oil and MidState Industrial. In the center of the property is the main building: 140 Palm Ave. 140 Palm Ave has been converted to a 38,760 square foot flex property with 19 smaller tenants between 456 and 3,00 square feet - each with a grade-level loading door. This building has been meticulously converted to comply with fire codes and are built to a much higher standard of construction than is typical for industrial building built before 2000. The 1,690 square foot building has a first floor office, second floor apartment. In addition to open parking areas, there is a shared truck well to accommodate any needed loading for tenants.

Current Tenants pay between $4.69 and $10.44 per square foot on an NNN basis, with several tenants still on gross leases. Converting the property over to consistent NNN leases at a $8.00 per square foot will generate an approximate gross rent of $478,441 annually - before any future amortizations or improvements.

Live Oak is the seat of Suwannee County, FL with 7,400 people within the city. This is a smaller city but has a tremendous growth rate of 2.54% annually (double the Florida growth rate) and is fueled by in-migration from other parts of Florida. Suwannee county, along with Columbia and Alachua, form the crux of Central North Florida with infrastructure such as the I-10 and I-75 interchange facilitating transportation and local agriculture and resource harvesting. These cities and counties are the areas of highest-potential growth in Florida today through urbanization and housing development.

Investment Highlights

  • Centrally Located Industrial and Business Park in Live Oak, FL
  • Broad Tenant mix with diversified Rent Roll
  • Substantial Paved Area for Outdoor Storage

Exclusively Listed By

Financing By

Office Warehouse

Live Oak Industrial Park

Listing Price: $3,400,000

Cap Rate
6.08%
Gross SF
53,260
Price/Gross SF
$63.84
Lot Size
6.56 acres
Year Built
1971
Rentable SF
49,574

Investment Highlights

  • Centrally Located Industrial and Business Park in Live Oak, FL
  • Broad Tenant mix with diversified Rent Roll
  • Substantial Paved Area for Outdoor Storage

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the Live Oak Industrial Park ("the Property") for sale. Located in Live Oak, this 53, 260 square foot industrial park includes 5 buildings on 6.56 acres. The Western two buildings are separately secured for individual tenants: Hinton Oil and MidState Industrial. In the center of the property is the main building: 140 Palm Ave. 140 Palm Ave has been converted to a 38,760 square foot flex property with 19 smaller tenants between 456 and 3,00 square feet - each with a grade-level loading door. This building has been meticulously converted to comply with fire codes and are built to a much higher standard of construction than is typical for industrial building built before 2000. The 1,690 square foot building has a first floor office, second floor apartment. In addition to open parking areas, there is a shared truck well to accommodate any needed loading for tenants. Current Tenants pay between $4.69 and $10.44 per square foot on an NNN basis, with several tenants still on gross leases. Converting the property over to consistent NNN leases at a $8.00 per square foot will generate an approximate gross rent of $478,441 annually - before any future amortizations or improvements. Live Oak is the seat of Suwannee County, FL with 7,400 people within the city. This is a smaller city but has a tremendous growth rate of 2.54% annually (double the Florida growth rate) and is fueled by in-migration from other parts of Florida. Suwannee county, along with Columbia and Alachua, form the crux of Central North Florida with infrastructure such as the I-10 and I-75 interchange facilitating transportation and local agriculture and resource harvesting. These cities and counties are the areas of highest-potential growth in Florida today through urbanization and housing development.

Exclusively Listed By

Financing By

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