2030 Hibiscus Drive, Edgewater, FL 32141
$1,125,000
Property Type:
Commercial Sale
Baths:
2
Square Footage:
10,020
Lot Size (sq. ft.):
29,599
Status:
Closed
Current Price:
$1,125,000
List Date:
6/11/2024
Last Modified:
10/19/2024
Description
This 40 unit storage facility located in the Commercial business district is a lucrative investment opportunity. The original concrete block 7000 sq. ft. main building FLEXSPACE is currently being used as FOURTEEN individual storage units of various sizes and can easily be converted back to one, two or three larger capacity units/facilities. There is a large upfront unit of 2185 s ft w/ bathroom, TWELVE units of 25 x 14 and a spacious end unit of 50 x 14. The additional metal building houses 26 additional units and was newly added after completion of the main building. There are FOUR 10 x 8 storage units and TWENTY-TWO 10 x 10 storage units
Supplements: Completely updated and in perfect working order, these facilities are ready to generate solid income for any investor. The property is a large parcel w survey available measures 160 ft x 187 ft. Ideal for a 1031 exchange buyer looking to reinvest in a like-kind property here in Florida and defer capital gains taxes, this storage facility promises a reliable source of income. With multiple units of varying sizes available, there is ample potential to maximize returns and cater to a diverse range of storage needs for tenants. Some units are climate controlled, while others are not. Owner pays electric & Water costs Overall, this property presents a secure and profitable investment option for those seeking a stable income stream in the commercial real estate sector. Don't miss out on this chance to acquire a turnkey investment property with significant income potential. Whether you're a seasoned investor looking to expand your portfolio or a first-time buyer seeking a reliable source of passive income, this renovated storage facility is a smart and lucrative choice. Contact me today for more information and take the first step towards securing this prime real estate opportunity.
More Information MLS# 1200120
General Property Information
Lot Size Acres: 0.6795
Number Of Units Total: 40
Association YN: No
Water Body Access YN: No
Waterfront YN: No
Senior Community YN: No
Directions: US 1 South to SR 442 (Indian River Blvd) go W to Hibiscus, turn left head S to 2030 on the right.
Public Remarks: This 40 unit storage facility located in the Commercial business district is a lucrative investment opportunity. The original concrete block 7000 sq. ft. main building FLEXSPACE is currently being used as FOURTEEN individual storage units of various sizes and can easily be converted back to one, two or three larger capacity units/facilities. There is a large upfront unit of 2185 s ft w/ bathroom, TWELVE units of 25 x 14 and a spacious end unit of 50 x 14. The additional metal building houses 26 additional units and was newly added after completion of the main building. There are FOUR 10 x 8 storage units and TWENTY-TWO 10 x 10 storage units
Building Area Total: 10020
Stories Total: 1
Building Area Source: Owner
Land Lease YN: No
List Price/SqFt: 138.22
Sold Price/SqFt: 112.28
Bathrooms Total: 2
Year Built: 1979
Location, Tax, and Legal
Country: US
Parcel Number: 8402-01-03-1420
Tax Annual Amount: 7877
Tax Year: 2023
Tax Legal Description: LOTS 3142 TO 3145 INC BLK 152 FLORIDA SHORES NO 2 REVISED PLAT MB 23 PG 103 PER OR 2747 PG 0596 PER OR 7030 PG 0225 PER OR 8230 PG 4790
Zoning Description: Industrial
Currently Not Used
Additional Parcels YN: No
Bathrooms Total: 2
Year Built: 1979
Accessibility Features YN: Yes
Building Name: Edgewater Plaza and Storage
Lock Box Type
Combo: 1
See Remarks: 1
Accessibility Features
Accessible Doors: 1
Accessible Entrance: 1
Accessible Hallway(s): 1
Visitable: 1
Visitor Bathroom: 1
Construction Materials
Block: 1
Metal Siding: 1
Other: 1
Cooling
Central Air: 1
Electric: 1
Current Use
Mini Storage: 1
Electric
200+ Amp Service: 1
Fencing
Back Yard: 1
Vinyl: 1
Flooring
Concrete: 1
Heating
Central: 1
Income and Expenses
Gross Scheduled Income: 122784
Insurance Expense: 4300
Maintenance Expense: 13500
Net Operating Income: 84759
New Taxes Expense: 8990
Other Expense: 1500
Listing Terms
Cash: 1
Conventional: 1
Owner May Carry: 1
Lot Features
Cleared: 1
Owner Pays
All Utilities: 1
Common Area Maintenance: 1
Exterior Maintenance: 1
Grounds Care: 1
HVAC Maintenance: 1
Insurance: 1
Management: 1
Repairs: 1
Roof Maintenance: 1
Sewer: 1
Taxes: 1
Water: 1
Parking Features
Additional Parking: 1
Parking Lot: 1
Shared Driveway: 1
Unassigned: 1
Possession
Close Of Escrow: 1
Road Frontage Type
City Street: 1
Roof
Metal: 1
Security Features
Closed Circuit Camera(s): 1
Sewer
Public Sewer: 1
Tenant Pays
None: 1
Unit 1 Details
Unit ID: 1
Annual Rent: 22500
Unit SqFt: 2185
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: Largest unit/ AC
Unit 2 Details
Unit ID: 2
Annual Rent: 3816
Unit SqFt: 336
# Units (This Type): 4
Furnished: Unfurnished
Unit Remarks: 25 x 14 /AC
Unit 3 Details
Unit ID: 4
Annual Rent: 4452
Unit SqFt: 336
# Units (This Type): 8
Furnished: Unfurnished
Unit Remarks: 25 x 14 / NO AC
Unit 4 Details
Unit ID: 8
Annual Rent: 9120
Unit SqFt: 672
# Units (This Type): 1
Furnished: Unfurnished
Unit Remarks: Large end unit
Unit 5 Details
Unit ID: 21
Annual Rent: 1680
Unit SqFt: 80
# Units (This Type): 4
Furnished: Unfurnished
Unit Remarks: Metal Bldg
Unit 6 Details
Unit ID: 27
Annual Rent: 1500
Unit SqFt: 100
# Units (This Type): 17
Furnished: Unfurnished
Unit Remarks: Units 27-39 10 x 8
Unit 7 Details
Unit ID: 21
Annual Rent: 1680
Unit SqFt: 100
# Units (This Type): 4
Furnished: Unfurnished
Unit Remarks: 8 x 8
Unit 8 Details
Unit ID: 25-26
Annual Rent: 2556
Unit SqFt: 200
# Units (This Type): 1
Furnished: Unfurnished
Unit Remarks: 2 attached units
Building Features
# Overhead Doors: 40
% Air Conditioned or Heated: 15
Asbestos Present: No
Ceiling Eve Height: 10
Clear Ceiling Height: 9
Development Name: EW Plaza & Storage
Fenced: 1
Interior Corridors: 1
Max Parking Space Available: 12
Maximum Ceiling Height: 10
Min Parking Space Available: 12
Overhead Door Height: 8
Overhead Doors: 1
Price Per Bldg SqFt: 178
Price Per Land SqFt: 178
Public Restroom: 1
Storage: 1
Useable/Rentable U/R: U
Business Type
Storage: 1
Ceiling Type
Drywall: 1
Existing Lease Type
Gross: 1
Location
Commerce Park: 1
Industrial Park: 1
Operating Expense Includes
Insurance: 1
Maintenance: 1
Professional Management: 1
Utilities: 1
Vacancy Allowance: 1
Water/Sewer: 1
Sale Includes
Building & Land: 1
Contract Information
Current Price: $1,125,000
Sold Price: $1,125,000
Status: Closed
Listing Contract Date: 2024-06-11
Property Sub Type: Warehouse
Location Tax and Legal
Street Number: 2030
Street Name: Hibiscus
Street Suffix: Drive
County: Volusia
State: FL
Postal Code: 32141
MLS Area Major: 80 - Edgewater
Status Change Information
Major Change Timestamp: 2024-10-19T12:33:32Z
Major Change Type: Status Change
Price Change Timestamp: 2024-07-18T14:43:02Z
Purchase Contract Date: 2024-09-05
Close Date: 2024-10-18
Close Price: 1125000
Property Features
Accessibility Features: Accessible Doors; Accessible Entrance; Accessible Hallway(s); Visitable; Visitor Bathroom
Building Features: Fenced; Interior Corridors; Overhead Doors; Public Restroom; Storage
Ceiling Type: Drywall
Construction Materials: Block; Metal Siding; Other
Cooling: Central Air
Current Use: Mini Storage
Electric: 200+ Amp Service
Existing Lease Type: Gross
Fencing: Back Yard; Vinyl
Flooring: Concrete
Heating: Central
Listing Terms: Cash; Conventional; Owner May Carry
Location: Commerce Park; Industrial Park
Lock Box Type: Combo; See Remarks
Lot Features: Cleared
Operating Expense Includes: Insurance; Maintenance; Professional Management; Utilities; Vacancy Allowance; Water/Sewer
Owner Pays: All Utilities; Common Area Maintenance; Exterior Maintenance; Grounds Care; HVAC Maintenance; Insurance; Management; Repairs; Roof Maintenance; Sewer; Taxes; Water
Parking Features: Additional Parking; Parking Lot; Shared Driveway; Unassigned
Possession: Close Of Escrow
Road Frontage Type: City Street
Roof: Metal
Sale Includes: Building & Land
Security Features: Closed Circuit Camera(s)
Sewer: Public Sewer
Listing Office:
Collado Real Estate
Last Updated: October - 19 - 2024
Information deemed reliable but not guaranteed.