OLD KINGS PLAZA | SELLER FINANCING AVAILABLE |… — Sale in Flagler Beach, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Flagler Beach, FL 32136

Photos

OLD KINGS PLAZA | SELLER FINANCING AVAILABLE |… — Sale in Flagler Beach, FL, photo 1 of 6
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Investment Figures

Cap rate
1.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the opportunity to acquire a recently vacant 16,441-square-foot multi-use commercial property situated on 2.00 acres at 250 Old Kings Road South in Flagler Beach. Offered at $167.26/SF, below replacement cost, the property presents a rare opportunity to acquire a sizeable commercial asset in one of Flagler County’s growing coastal corridors. Originally developed in 2006 and offered for sale by the original developer for the first time since construction, the property features a flexible layout that can accommodate a single user or multi-tenant configuration for medical, childcare, education, wellness, office, retail, or other service-oriented uses. Based on a conservative stabilized rent assumption of $15.00/SF NNN, the property is projected to generate approximately $246,615 in stabilized NOI, resulting in an estimated 8.97% pro forma cap rate, while current market rents average approximately $20.32/SF according to CoStar, providing additional upside potential. Strategically positioned near East Highway 100 and Interstate 95, the site benefits from combined traffic counts exceeding 100,000 vehicles per day, strong surrounding demographics, and proximity to national retailers including Publix, Aldi, Starbucks, Chipotle, Wawa, BJ’s Wholesale Club, AdventHealth, and more. The surrounding market continues to experience strong residential growth, with over 59,144 residents within a five-mile radius and average household incomes exceeding $91,818 within three miles. Investment Highlights: • Below Replacement Cost Pricing: Offered at $167.26/SF, the property presents an attractive opportunity to acquire a sizeable commercial asset at pricing well below today's estimated replacement cost. • Market Rents Above Pro Forma Assumptions: Current market rents average approximately $20.32/SF according to CoStar, providing meaningful upside potential through future lease-up and rent growth. • Rare First-Time Offering: Originally developed i

Market Context

This retail in Flagler Beach, FL is listed for sale. It is offered at an approximate 1.0% capitalization rate, a key benchmark for income-producing retail assets. Compare it against other retail listings for sale in Flagler Beach, FL — view the full market.

Estimated Price per SF

$52.46/SF – $381.53/SF

Mid: $158.97/SF

About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.

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