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$295,000
$294,900
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1,490 SqFt
SOLD DATE : 04/12/2021
Key Details
Sold Price $295,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 1,490 sqft
Price per Sqft $197
Subdivision Spring Lakes Add 01
MLS Listing ID O5926660
Sold Date 04/12/21
Construction Status Inspections
HOA Y/N No
Year Built 1952
Annual Tax Amount $3,030
Lot Size 0.650 Acres
Acres 0.65
Property Description
Commercial investment alert! Commercial Business/Office Space with Volusia Avenue Frontage in Orange City! Take a look at this prime 28,200 sf commercial lot centrally located directly on Volusia Avenue in Orange City! This property averages nearly 32,000 in daily car traffic! Aside from the high traffic, the property also features block construction and enough parking for 20 vehicles. The commercial space was last used as an auto repair shop and was on an annual lease of $1,700/month alone! Since that time, Orange City has continued to see huge business growth. Brand new office buildings were developed across the street on Volusia Avenue and a brand new Checkers was recently built across the street on Cedar Avenue. With some renovations, this space can easily be leased and/or subleased at $2,000/month for building two and $1,500/month for building one. Doing so would bring in $42,000 in gross income which would render a 10.65% gross cap rate.
Location
State FL
County Volusia
Community Spring Lakes Add 01
Zoning C-1
Interior
Heating Central, Wall Units / Window Unit
Cooling Central Air, Wall/Window Unit(s)
Appliance Refrigerator
Exterior
Utilities Available BB/HS Internet Capable, Electrical Nearby, Private, Sewer Nearby, Water Connected, Water Nearby
Building
Lot Description Central Business District, Corner Lot, Oversized Lot, Sidewalk
Story 1
Entry Level One
Foundation Crawlspace, Slab
Lot Size Range 1/2 to less than 1
Sewer Septic Tank
Structure Type Block
New Construction false
Construction Status Inspections
Others
Ownership Sole Proprietor
Acceptable Financing Cash, Conventional, Other, Private Financing Available
Listing Terms Cash, Conventional, Other, Private Financing Available
Special Listing Condition None
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Bought with STELLAR NON-MEMBER OFFICE