Land in Palatka, Florida № 881992

Property description

Appx 1.83 acres of vacant land with infrastructure & shared parking that has a site plan for adding up to 8 medical office units within a complex that has 10 total units now. 6 of those 10 units totaling over 11,200 sf of leasable space can be bought separately or together. See MLS 1128163 . 5 of the units have established medical or lab related uses with business leases in place, tenants been there for years- RECENTLY RENEWED, the Units have 6.3% CAP rate at List Price even with the one vacancy. When fully leased, the CAP rate will increase to over 7%. Hidden Value is in this listing & excess land that can be purchased separately & developed into at least 8 more units. Great investment now. Buy - hold - or add value to the other units as a package