Value-Add Investment Property in Deltona Florida

 

This Value-Add Investment Property is Off-Market. 

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O’Reilly Commercial Realty LLC
Patrick O’Reilly
Phone: (352) 237-2222
Email: OreillyCommercialRE@gmail.com

777 Deltona Blvd, Deltona, Florida 32725 - Commercial Property Sold

Retail Property

Price:

$1,750,000 estimated Sale Price

Gross Leasable Area:

34,648 SF

Price per SF:

$50.51

Property Type:

Retail

Property Sub-type:

Strip Center

Property Use Type:

Investment

Tenancy:

Multiple

Lot Size:

4.30 AC

Description of Value-Added Investment Property

This Commercial Property was Priced to sell at $1,750,000. It is at $50.50 psf - which is 40% below replacement cost. Currently at 49% vacancy with CoStar reporting retail center vacancy at ~10%. Currently at $7.00 rent with CoStar reporting retail rents @ $12.87 NNN. This is quality commercial real estate construction in excellent condition with no major deferred maintenance. Strong demographics and location over 47,000 residents within a 3 mile radius and average HHI over $57,000.

Key Facts for Florida Commercial Property

Land size: 4.3 acres Building size: 34,648 sf Year Built: 1988 Major tenants include Greenburg Dental and Bagel King Deltona is diverse with cultures and citizens that come together as one to keep their City beautiful, safe and well informed. Deltona came into being as a City in 1995, and is changing and improving daily. With almost 90,000 residents, people of all ages are accommodated with social - sports events to fill their days and reach out to others.

As of 2013, 60.0% of the population aged 16 years and over was in the labor force, with 52.7% employed and 7.2% unemployed. Fitch, Moody's, and Standard & Poor's rated Deltona bonds as "AA-" between 2013 and 2014. Fitch attributed Deltona's small commercial sector to the city being a "largely residential and mostly built-out community", but did acknowledge the city's improving unemployment rate, dropping from a peak of 12% in 2010 to 6.4% in June 2014. As of 2014, the largest employers in the city include Daytona State College, followed by Publix Supermarkets, and Walmart.    

777 Deltona Blvd, Deltona, FL 32725 (Volusia County)

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