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118 E Fairview Avenue, Daytona Beach, FL 32114

$1,100,000
Property Type: Commercial Sale Square Footage: 12,289 Lot Size (sq. ft.): 28,750 Status: Closed
Current Price: $1,100,000 List Date: 7/19/2023 Last Modified: 9/28/2024

Description

MAJOR PRICE REDUCTION! $600,000 DROP! '' Excellent investment property with endless possibilities right on the Halifax River about 3 1/2 blocks from Daytona's iconic boardwalk on the Atlantic Ocean. Daytona is known as a dynamic fun-filled city with activities year-round. This property is on the cusp of the newly renovated Beach St business district and nature walk on the river. New luxury apartments are underway one half block south of this site. Investor's can benefit from the new face of business and commerce in this district. The property is an excellent target for 1031 reinvestment funds and is eligible for CRA credits from the City of Daytona Beach! This property can benefit from the significant tax savings that any investor can enjoy thru accel

Supplements: Modified use potentially includes: motorcycle, car, or boat sales, restaurant or bakery, Club, Lodge, Place of Worship, Attorney or contractor office building, Clinic, government building and many more options! The possibilities are truly endless! An incredibly rare find, 118 Fairview Avenue is truly a once in a lifetime opportunity. Coming across the Main St bridge the historic Daytona Beach begins with you! As the heart of the new development boom, the Downtown Historic District, local transformations, area improvements and additions to the Downtown landscape includes a $70M ll-story building towering the west bank of the river and home to the new headquarters for Brown and Brown Insurance. Brown and Brown is the fifth largest independent insurance brokerage in the nation with over 600 employees at their new location. Another exceptional addition is the new Riverfront Esplanade Park spanning 22 acres. The riverfront park is a $31M privately funded premier gathering space and botanical garden. The most recent addition to the development boom is a $97M, 294 unit, 6-story, apartment complex spanning 3.5 acres. With Downtown Beach street quickly becoming a beacon and catalyst for a massive development boom, 118 Fairview Avenue is the best value in the entirety of the Daytona Beach Commercial Real Estate market. A stunning and exceedingly rare piece of property ready for a buyer to make their mark and create something absolutely spectacular! Be the next owner of this quintessential Daytona Beach property and make your history here. Any commercial buyer that puts a premium on having it all must run, not walk, to see what this special location has to offer. Another exceptional addition is the new Riverfront Esplanade Park spanning 22 acres. The riverfront park is a $31M privately funded premier gathering space and botanical garden. The most recent addition to the development boom is a $97M, 294 unit, 6-story, apartment complex spanning 3.5 acres. With Downtown Beach street quickly becoming a beacon and catalyst for a massive development boom with possible funds available with the Community Redevelopment Agency for this area. Prime Commercial Property Opportunity in the Heart of Daytona Beach Key Features: Strategic Location: Situated at 118 E Fairview Ave, this property benefits from a high-visibility location in the heart of Daytona Beach. It enjoys easy access to major transportation routes, ensuring convenience for both customers and employees. Generous Square Footage: Boasting an impressive 12,289 square feet of space, this property provides ample room for various commercial endeavors. The spacious layout allows for flexibility in design and functionality, accommodating a diverse range of business needs. Versatile Usage Possibilities: Whether you're considering retail, office space, a showroom, or a combination of uses, this property is a blank canvas ready for customization. The open floor plan allows for creative adaptation to suit the specific requirements of your business. Modern Infrastructure: The property features modern infrastructure and amenities to support the demands of contemporary businesses. Up-to-date electrical systems, HVAC, and other essential facilities contribute to the overall efficiency of the space. Ample Parking: The property includes ample parking space, providing convenience for both clients and employees. Ease of access and parking availability enhance the overall appeal of this commercial gem. Thriving Business Environment: Daytona Beach is a vibrant and growing community, offering a dynamic business environment. Proximity to shopping centers, dining establishments, and entertainment options adds to the attractiveness of this location. Investment Potential: With its strategic location, generous square footage, and versatile usage possibilities, this property represents a sound investment opportunity. Whether you're a seasoned investor or a business owner looking for the perfect space, 118 E Fairview Ave holds immense potential. Don't miss out on the chance to secure this prime commercial property in Daytona Beach. Contact us today to schedule a viewing and explore the endless possibilities that this property has to offer.

More Information MLS# 1111711

General Property Information

Lot Size Acres: 0.66 Association YN: No Water Body Access YN: No Waterfront YN: No Public Remarks: MAJOR PRICE REDUCTION! $600,000 DROP! '' Excellent investment property with endless possibilities right on the Halifax River about 3 1/2 blocks from Daytona's iconic boardwalk on the Atlantic Ocean. Daytona is known as a dynamic fun-filled city with activities year-round. This property is on the cusp of the newly renovated Beach St business district and nature walk on the river. New luxury apartments are underway one half block south of this site. Investor's can benefit from the new face of business and commerce in this district. The property is an excellent target for 1031 reinvestment funds and is eligible for CRA credits from the City of Daytona Beach! This property can benefit from the significant tax savings that any investor can enjoy thru accel Building Area Total: 12289 Lot Size Dimensions: 28920 List Price/SqFt: 121.98 Sold Price/SqFt: 89.51 Year Built: 1955

Location, Tax, and Legal

Country: US Parcel Number: 5338-18-05-0010 Tax Annual Amount: 12685 Tax Year: 2022 Tax Legal Description: LOT 13 BLK 3 & ALL BLK 5 ORANGE ISLAND PARK DAYTONA EXC PART IN R/W RB 163 PG 591 MB 5 PG 20 PER OR 5055 PG 0762 PER OR 5349 PG 0443 PER OR 7120 PG 2182 PER OR 7483 PGS 3309-3310 Zoning Description: Retail

Currently Not Used

Year Built: 1955

Status Change Information

Contingent Date: 2024-04-19 Major Change Timestamp: 2024-07-15T13:34:51Z Major Change Type: Status Change Price Change Timestamp: 2023-12-20T03:01:12Z Purchase Contract Date: 2024-02-14 Close Date: 2024-04-18 Close Price: 1100000

Construction Materials

Stucco: 1

Cooling

Central Air: 1

Current Use

Retail: 1

Heating

Central: 1

Road Frontage Type

City Street: 1 Highway: 1 State Road: 1 Other: 1

Sewer

Public Sewer: 1

Utilities

Separate Electric Meters: 1

Building Features

Maximum Ceiling Height: 12 Showroom: 1

Business Type

Auto Service: 1 Church: 1 Commercial: 1 Convenience Store: 1 Education/School: 1 Industrial: 1 Manufacturing: 1 Professional Service: 1 Professional/Office: 1 Recreation: 1 Restaurant: 1 Retail: 1 Warehouse: 1 Wholesale: 1

Historical Information

Public Historical Remarks 1: Road Type: Asphalt; Zoning (Text): 02M1; Meters: # Electric Meters: 1; SqFt - Total: 12289.00; Confidential Listing: N; Commercial Property Name: Daytona Motorcycle P; Financial Package: No; Franchise Opt In: No; Current # Tenant: 1.0000

Contract Information

Current Price: $1,100,000 Sold Price: $1,100,000 Status: Closed Listing Contract Date: 2023-07-18 Property Sub Type: Business

Location Tax and Legal

Street Number: 118 Street Direction Prefix: E Street Name: Fairview Street Suffix: Avenue County: Volusia State: FL Postal Code: 32114 MLS Area Major: 32 - Daytona Beville to ISB, E of 95

Property Features

Building Features: Showroom Business Type: Auto Service; Church; Commercial; Convenience Store; Education/School; Industrial; Manufacturing; Professional Service; Professional/Office; Recreation; Restaurant; Retail; Warehouse; Wholesale Construction Materials: Stucco Cooling: Central Air Current Use: Retail Heating: Central Road Frontage Type: City Street; Highway; State Road; Other Sewer: Public Sewer Utilities: Separate Electric Meters
Listing Office: EXP Realty LLC
Last Updated: September - 28 - 2024
Information deemed reliable but not guaranteed.

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