6738-6754 Caroline St - Office FOR SALE


Milton, FL 32570
$960,000 USD
312-224-3160
6738-6754 Caroline St, Milton, FL for Sale
$960,000 USD
Office - FOR SALE
1/4
null | 8.75% Cap Rate

6738-6754 Caroline St
Milton, FL 32570


HIGHLIGHTS

  • Investment Grade Tenant with 25+ Years of Occupancy History
  • 17% Population Growth within the Last Decade
  • Substantial Capital Improvements Including Roof, HVAC, Flooring and Paint

OVERVIEW

The Newmark Government Capital Markets team is pleased to present qualified investors with the opportunity to acquire a 10,759 square foot three-tenant office building that is currently 100% leased by three (3) tenants (the “Property”). The Property features a rent roll comprised of two (2) State of Florida government agencies: the Department of Corrections (“FDC”) and the Department of Juvenile Justice (“DJJ”). These two tenants occupy approximately 81% of the Property. The third tenant is a local bail bonds business who recently executed a new lease. The building features several new improvements including new luxury vinyl plank (LVP flooring throughout the space (2024), all new HVAC units (2019), new roof (2019), and new exterior paint (2024). The Property has a long history of stable occupancy with the FDC a tenant since August 1997 and the DJJ a tenant since June 2000. Both tenants have recently extended their lease terms, and the recent improvements to the Property should contribute to a continuation of stable cash flow.

FOR SALE DETAILS

PRICE

$960,000 USD

PRICE/SF

$89 USD /SF

CAP RATE

8.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1958

SPRINKLERS

-

PARKING SPACES

75

LAND DETAILS

LAND ACRES

1.19 AC

LAND SF

51,836 SF

ZONING

R-1PK

APN/PARCEL ID

03-1N-28-2530-05600-0020,03-1N-28-2530-05600-0100

ASK ABOUT THIS PROPERTY

Andy GallasNewmarkMore Info
312-224-3160

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Andy GallasNewmarkMore Info
312-224-3160

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.