1024 N US Highway 1, Ormond Beach, FL 32174 (MLS# 1013632)

1024 N US Highway 1, Ormond Beach, FL 32174

$1,550,000

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Property Type: Commercial Sale Square Footage: 42,592 Status: Closed

Current Price: $1,550,000 List Date: 3/10/2016 Last Modified: 9/28/2024

Overview

Description

SUBSTANTIAL PRICE REDUCTION! Less than $46/SF. An attractive multi-tenant, mixed use center containing approximately 42,592 ft.² of building area on 4.62 acres of land with over 500 feet of direct frontage along US–1. Site includes 1.2± acres of vacant undeveloped land north of the existing improvements. Interior finishes include 8,738± ft.² of office, 7,451± ft.² of retail, 5,975± ft.² of climate controlled mini–storage and 10,337± ft.² of standard storage space in five separate buildings. Buildings range in age from 14 to 61 years old. 2003 renovations to the facility included the addition of a modern front elevation, new retail space and the remodeling of much of the office finishes. Office area is currently utilized for both general office and as executive office suites.

Supplements: suites. Site improvements includes 92 illuminated paved parking spaces and ample irrigated landscape.

Listing Details MLS# 1013632

General Property Information

Building Area Total: 42592
Year Built: 1955
Lot Size Dimensions: 4.621± Acres
Association YN: No
Water Body Access YN: No
Waterfront YN: No
Directions: From SR 40 north on US-1 2.8 miles, property on West side 1/4 mile north of Tomoka River.
Public Remarks: SUBSTANTIAL PRICE REDUCTION! Less than $46/SF. An attractive multi-tenant, mixed use center containing approximately 42,592 ft.² of building area on 4.62 acres of land with over 500 feet of direct frontage along US–1. Site includes 1.2± acres of vacant undeveloped land north of the existing improvements. Interior finishes include 8,738± ft.² of office, 7,451± ft.² of retail, 5,975± ft.² of climate controlled mini–storage and 10,337± ft.² of standard storage space in five separate buildings. Buildings range in age from 14 to 61 years old. 2003 renovations to the facility included the addition of a modern front elevation, new retail space and the remodeling of much of the office finishes. Office area is currently utilized for both general office and as executive office suites.
List Price/SqFt: 45.67
Sold Price/SqFt: 36.39

Property Features

Building Features: Showroom Business Type: Commercial; Mixed; Professional Service; Professional/Office; Retail; Warehouse Construction Materials: Block; Concrete Cooling: Central Air; Multi Units Current Use: Mixed Use; Shopping Center Heating: Central; Varies by Unit Location: Shopping Center Road Frontage Type: Highway; Other Roof: Tar/Gravel; Other Sale Includes: Building & Land Sewer: Public Sewer Water Source: Public

Contract Information

Listing Contract Date: 2016-03-10
Property Sub Type: Business

Location Tax and Legal

Street Number: 1024
Street Direction Prefix: N
Street Name: US Highway 1
County: Volusia
State: FL
Postal Code: 32174
MLS Area Major: 45 - Ormond N of 40, W of US1, E of 95

Status Change Information

Major Change Timestamp: 2018-03-02T16:20:30Z
Major Change Type: Status Change
Price Change Timestamp: 2017-10-13T13:31:03Z
Contingent Date: 2017-12-11
Purchase Contract Date: 2017-12-11
Close Date: 2018-03-01
Close Price: 1550000

Building Features

Ceiling Eve Height: Varied Height
Vac Off/Retail SqFt: 16189
Vac Warehouse SqFt: 16312
Showroom: Yes

More Information

Income and Expenses

Gross Income: 331000

Historical Information

Public Historical Remarks 1: Road Type: paved 4 lane divided; Zoning (Text): B-8 Ormond Bch; # Parking: 92; Income/Operating Inc: Total Operating Income: 331000; Lease Provisions: Less than 1 Year; Parking: Paved; SqFt - Total: 42592.00; Site Improvements: Curb/Sidewalks; Confidential Listing: N; Highway Access: Duel drives to US-1; % Occupancy: 90.00; Road Frontage: 500.00; Depth: 400.00; Commercial Property Name: US-1 Business Park; Financial Package: No; Franchise Opt In: No; Current # Tenant: 25.0000

Location, Tax, and Legal

Country: US
Parcel Number: 4238-01-30-0010
Tax Annual Amount: 18078
Tax Year: 2015
Tax Legal Description: 38-14-32 N 376.2 FT S OF CENTER GAMBLE AVE MEAS ON W/L OF US 1 PER DB 526 PG 593 OF THAT PART OF LOTS 30 & 31 LYING BETWEEN HWY & RR EXC S/E 159.71 FT OF N/E 95.67 FT OF S/W 125.67 FT & EXC S/E 11.83 FT OF S/W 120.10 FT OF N/E 286.13 FT & EXC S/E 7.4 9 FTOF S/W 12.83 FT OF N/E 298.96 FT E OF LOT 1 BLK 1 TOMOKA ESTATES TOMOKA MB 1 PG 108 IN GEO ANDERSON GRANT PER OR 1518 PG 536 & LOT 1 BLK 1 TOMOKA
Zoning Description: Retail

Currently Not Used

Year Built: 1955
Accessibility Features YN: Yes

Construction Materials

Block: Yes
Concrete: Yes

Cooling

Central Air: Yes
Multi Units: Yes

Current Use

Mixed Use: Yes
Shopping Center: Yes

Heating

Central: Yes
Varies by Unit: Yes

Road Frontage Type

Highway: Yes
Other: Yes

Roof

Tar/Gravel: Yes
Other: Yes

Sewer

Public Sewer: Yes

Water Source

Public: Yes

Business Type

Commercial: Yes
Mixed: Yes
Professional Service: Yes
Professional/Office: Yes
Retail: Yes
Warehouse: Yes

Location

Shopping Center: Yes

Sale Includes

Building & Land: Yes

Listing Office: Adams, Cameron & Co., Realtors (Commercial)

Last Updated: September - 28 - 2024

Information deemed reliable but not guaranteed.

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