Shopping Neighborhood
Heritage Plaza | $122 PSF | ACE Anchored Center | $8 PSF Net Rents
600 N State St, Bunnell, FL 32110
Listing Price: $2,000,000
Investment Overview
Marcus & Millichap is exclusively proud to present 600 N State St, Bunnell, FL 32110, a well-positioned 9-unit Retail property located in the heart of Bunnell's primary retail corridor within the Palm Coast Submarket—one of Florida's fastest-growing regions with projected growth over 4% per year. Strategically situated along US-1 with 288 feet of direct frontage and nearly 20,000 vehicles passing daily, the center benefits from exceptional visibility and accessibility.
Anchored by Ace Hardware, a long-term tenant since 1986 currently undergoing a major re-set, the property features a diverse tenant mix with below-market net rents of $8.00 PSF, significantly under the area's average of $19.81 PSF per Costar. The asking price of $122 PSF is well below replacement cost, offering tremendous value-add potential. Recent upgrades include new sewer lines, water pipes, and a new roof for units 602–612 as of January 2022.
The property is located near major national retailers such as Walmart, Publix, Target, Walgreens, Home Depot, Lowe's, CVS, Dollar Tree, McDonald's, and Starbucks, driving consistent traffic to the area and strengthening tenant performance.
Heritage Plaza | $122 PSF | ACE Anchored Center | $8 PSF Net Rents
Investment Highlights
- Below Market Rents: Property Net Rents are Currently at $8.00 PSF, Significantly Below the Market Average of $19.81 PSF (per CoStar), Presenting a Clear Value-Add Opportunity.
- Asking Price Per Foot: The property is Priced at $122 PSF, Well Below Replacement Cost, Offering Tremendous Upside Potential.
- Prime Location: Strategically Located w. 288 Feet of Direct Frontage on State St (US-1), Offering High Visibility and Daily Traffic Exposure (Est. 20,000 VPD).
- Strong Tenant Mix with Long-Term Stability: Long-Term Tenants Including Ace Hardware, Which has Been in Place Since 1986. Over the Last 12 Years, Only 2 Tenants did not Renew Their Leases, due to Retirement.
- 9-Unit Center on 1.4 Acres w. Ample Parking and Accessibility: The Property Provides Ample Parking Space, and Multiple Access Points.
- Palm Coast Submarket: Positioned in one of Florida's Fastest-Growing Regions, with Annual Growth Projections Exceeding 4%, Supporting Long-Term Demand for Retail Space.
- Recent Upgrades: Significant Property Updates Completed in 2010, Including New Sewer Lines, Water Pipes, ADA-Compliant Bathroom Enlargements, and Updated Ceilings With New AC Duct Systems, Wiring, Lighting, and Drop Ceilings.
- Ace Hardware Re-Set: Ace Hardware is Set for a Major Re-Set Within a Month, Enhancing its Appeal and Customer Experience.
Exclusively Listed By
Financing By
Shopping Neighborhood
Heritage Plaza | $122 PSF | ACE Anchored Center | $8 PSF Net Rents
Listing Price: $2,000,000
Investment Highlights
- Below Market Rents: Property Net Rents are Currently at $8.00 PSF, Significantly Below the Market Average of $19.81 PSF (per CoStar), Presenting a Clear Value-Add Opportunity.
- Asking Price Per Foot: The property is Priced at $122 PSF, Well Below Replacement Cost, Offering Tremendous Upside Potential.
- Prime Location: Strategically Located w. 288 Feet of Direct Frontage on State St (US-1), Offering High Visibility and Daily Traffic Exposure (Est. 20,000 VPD).
- Strong Tenant Mix with Long-Term Stability: Long-Term Tenants Including Ace Hardware, Which has Been in Place Since 1986. Over the Last 12 Years, Only 2 Tenants did not Renew Their Leases, due to Retirement.
- 9-Unit Center on 1.4 Acres w. Ample Parking and Accessibility: The Property Provides Ample Parking Space, and Multiple Access Points.
- Palm Coast Submarket: Positioned in one of Florida's Fastest-Growing Regions, with Annual Growth Projections Exceeding 4%, Supporting Long-Term Demand for Retail Space.
- Recent Upgrades: Significant Property Updates Completed in 2010, Including New Sewer Lines, Water Pipes, ADA-Compliant Bathroom Enlargements, and Updated Ceilings With New AC Duct Systems, Wiring, Lighting, and Drop Ceilings.
- Ace Hardware Re-Set: Ace Hardware is Set for a Major Re-Set Within a Month, Enhancing its Appeal and Customer Experience.
Investment Overview
Marcus & Millichap is exclusively proud to present 600 N State St, Bunnell, FL 32110, a well-positioned 9-unit Retail property located in the heart of Bunnell's primary retail corridor within the Palm Coast Submarket—one of Florida's fastest-growing regions with projected growth over 4% per year. Strategically situated along US-1 with 288 feet of direct frontage and nearly 20,000 vehicles passing daily, the center benefits from exceptional visibility and accessibility. Anchored by Ace Hardware, a long-term tenant since 1986 currently undergoing a major re-set, the property features a diverse tenant mix with below-market net rents of $8.00 PSF, significantly under the area's average of $19.81 PSF per Costar. The asking price of $122 PSF is well below replacement cost, offering tremendous value-add potential. Recent upgrades include new sewer lines, water pipes, and a new roof for units 602–612 as of January 2022. The property is located near major national retailers such as Walmart, Publix, Target, Walgreens, Home Depot, Lowe's, CVS, Dollar Tree, McDonald's, and Starbucks, driving consistent traffic to the area and strengthening tenant performance.
Exclusively Listed By
Financing By
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