1757 N Nova Road, Holly Hill, FL 32117 (MLS# 1087346)

1757 N Nova Road, Holly Hill, FL 32117

$4,400,000

Property Type: Commercial Sale Square Footage: 39,350 Lot Size (sq. ft.): 200,376 Status: Closed

Current Price: $4,400,000 List Date: 8/12/2021 Last Modified: 9/28/2024

Overview

Description

INVESTMENT ALERT!! Lumber Liquidators Plaza - An in place 7.16% CAP Rate at full price with plenty of upside. 42 Tenants including 2 National tenants at the signalized intersection of Nova and 15th Retail - Office - Showroom - warehouse- flex- Tenant mix remained open during COVID with a variety of essential home improvement, retail, and office tenants with below-market rents for future upside. Perfectly positioned between Daytona and Ormond. 16 year owner can deliver unencumbered so, great 1031 Candidate. Below replacement $127 per square foot, this property will move quickly!

Listing Details MLS# 1087346

General Property Information

Number Of Units Total: 42
Building Area Total: 39350
Year Built: 2000
Lot Size Acres: 4.6
Lot Size Dimensions: 201606
Water Body Access YN: No
Waterfront YN: No
Directions: Take LPGA to Nova Rd, head north on Nova Rd. to 1757 N Nova Rd at the signalized intersection of 15th St
Public Remarks: INVESTMENT ALERT!! Lumber Liquidators Plaza - An in place 7.16% CAP Rate at full price with plenty of upside. 42 Tenants including 2 National tenants at the signalized intersection of Nova and 15th Retail - Office - Showroom - warehouse- flex- Tenant mix remained open during COVID with a variety of essential home improvement, retail, and office tenants with below-market rents for future upside. Perfectly positioned between Daytona and Ormond. 16 year owner can deliver unencumbered so, great 1031 Candidate. Below replacement $127 per square foot, this property will move quickly!
List Price/SqFt: 134.69
Sold Price/SqFt: 111.82

Property Features

Building Features: Kitchen Facilities; Private Restroom; Showroom Business Type: Arts and Entertainment; Auto Service; Church; Commercial; Convenience Store; Education/School; Industrial; Medical; Mixed; Professional Service; Professional/Office; Restaurant; Retail; Warehouse; Wholesale; Other Construction Materials: Block; Concrete Cooling: Central Air; Multi Units Current Use: Commercial; Industrial; Mixed Use; Retail; Shopping Center Existing Lease Type: Gross Heating: Central; Varies by Unit Listing Terms: Other Location: Shopping Center Road Frontage Type: City Street Roof: Metal Sale Includes: Building & Land Security Features: Fire Sprinkler System Sewer: Private Sewer Utilities: Separate Electric Meters; Separate Water Meters Water Source: Public

Contract Information

Listing Contract Date: 2021-08-12
Property Sub Type: Business

Location Tax and Legal

Street Number: 1757
Street Direction Prefix: N
Street Name: Nova
Street Suffix: Road
County: Volusia
State: FL
Postal Code: 32117
MLS Area Major: 41 - LPGA to Granada, E of Nova

Status Change Information

Major Change Timestamp: 2021-12-20T17:17:36Z
Major Change Type: Status Change
Contingent Date: 2021-10-30
Purchase Contract Date: 2021-09-27
Close Date: 2021-12-20
Close Price: 4400000

Building Features

Maximum Ceiling Height: 822
Kitchen Facilities: Yes
Private Restroom: Yes
Showroom: Yes

More Information

Income and Expenses

Gross Income: 535553
Net Operating Income: 392116

Historical Information

Public Historical Remarks 1: Ceiling Height: 7 - 10 Feet High,15 - 20 Feet High; Zoning (Text): CC-1; Construction: Metal; Financing: Assumable Qualify, OWC - 1st; # Parking: 155; Interior Improvement: Display Window, Ground Level Door; Income/Operating Inc: NOI: 392116; Included in Sale: Signs - Owned; Lease Provisions: 2 - 3 Years, 3 - 5 Years, Less than 1 Year, Year - Year; Meters: # Electric Meters: 14, # Water Meters: 11; Parking: Paved; SqFt: Max Area: 39350; SqFt - Total: 39350.00; Site Improvements: Curb/Sidewalks, Gutters, Pole Sign, Road Cut; Utilities at Site: Three Phase; Confidential Listing: N; % Occupancy: 100.00; Road Frontage: 480.00; Depth: 388.00; Commercial Property Name: 1757 Nova; Financial Package: No; Franchise Opt In: No; Current # Tenant: 42.0000

Location, Tax, and Legal

Country: US
Parcel Number: 424204340094
Tax Annual Amount: 68216
Tax Year: 2021
Tax Legal Description: 42-14-32 A PORTION OF LOTS 9 & 10 BLK 34 FLEMING FITCH GRANT MB 1 PG 1 MB 12 PG 39 AS DESCRIBED IN OR 7950 PG 1282 FKA COMMON AREA & UNITS 101 102 103 104A 104B 105 106 107 108 109 110A 110B 111 112 1
Zoning Description: Retail

Currently Not Used

Year Built: 2000

Construction Materials

Block: Yes
Concrete: Yes

Cooling

Central Air: Yes
Multi Units: Yes

Current Use

Commercial: Yes
Industrial: Yes
Mixed Use: Yes
Retail: Yes
Shopping Center: Yes

Heating

Central: Yes
Varies by Unit: Yes

Listing Terms

Other: Yes

Road Frontage Type

City Street: Yes

Roof

Metal: Yes

Security Features

Fire Sprinkler System: Yes

Sewer

Private Sewer: Yes

Utilities

Separate Electric Meters: Yes
Separate Water Meters: Yes

Water Source

Public: Yes

Business Type

Arts and Entertainment: Yes
Auto Service: Yes
Church: Yes
Commercial: Yes
Convenience Store: Yes
Education/School: Yes
Industrial: Yes
Medical: Yes
Mixed: Yes
Professional Service: Yes
Professional/Office: Yes
Restaurant: Yes
Retail: Yes
Warehouse: Yes
Wholesale: Yes
Other: Yes

Existing Lease Type

Gross: Yes

Location

Shopping Center: Yes

Sale Includes

Building & Land: Yes

Listing Office: Expert Realty Group

Last Updated: September - 28 - 2024

Information deemed reliable but not guaranteed.

Search