2370 N Palafox St

• Extensive Recent Capital Investment: Ownership has completed roof coatings, new HVAC in Units 1 & 3, fresh paint, and seal-coated parking areas, with a new sprinkler system in Unit 4 nearing completion (Unit 1 is also sprinklered) – new roofs on Units 1 & 4 anticipated via insurance proceeds, positioning a buyer to inherit minimal deferred maintenance.
• Opportunity Zone Tax Advantages: Located within a designated Qualified Opportunity Zone, offering investors capital-gains deferral and tax-advantaged appreciation on new equity. The overlay is especially compelling for 1031 exchange buyers and long-term holders, and broadens the buyer pool at exit.
• Diversified Rent Roll, Anchored Tenancy: A complementary mix of industrial and flex users anchored by AMD Supply staggers expirations and reduces rollover risk. The functional building – 18′ to 22′ clear height, one dock plus three drive-in doors, and a 2.18-acre site at 0.44 FAR with excess land – appeals to a deep pool of local and regional tenants.
• Significant Value-Add Lease-Up Opportunity: At 61% vacant (39% leased), the property offers substantial upside to stabilize income in a submarket where vacancy sits at just 2.0% and the overall market at 3.7%. With 179,692 SF absorbed over the trailing twelve months (up 7.3%) and only 6.3 months of average marketing time, demand should support a relatively quick lease-up of the available space.