2030 Hibiscus Drive, Edgewater, FL 32141 (MLS# 1200120)

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

Overview

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 ... (Read more)

Listing Details MLS# 1200120

General Property Information

Number Of Units Total: 40
Bathrooms Total: 2
Building Area Total: 10020
Building Area Source: Owner
Year Built: 1979
Lot Size Acres: 0.6795
Land Lease YN: No
Association YN: No
Water Body Access YN: No
Waterfront YN: No
Stories Total: Yes
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
List Price/SqFt: 138.22
Sold Price/SqFt: 112.28

Property Features

Accessibility Features: Accessible Doors; Accessible Entrance; Accessible Hallway(s); Visitable; Visitor Bathroom Building Features: Fenced; Interior Corridors; Overhead Doors; Public Restroom; Storage Business Type: 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 Tenant Pays: None

Contract Information

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

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
Max Parking Space Available: 12
Maximum Ceiling Height: 10
Min Parking Space Available: 12
Overhead Door Height: 8
Price Per Bldg SqFt: 178
Price Per Land SqFt: 178
Useable/Rentable U/R: U
Fenced: Yes
Interior Corridors: Yes
Overhead Doors: Yes
Public Restroom: Yes
Storage: Yes

More Information

Income and Expenses

Gross Scheduled Income: 122784
Insurance Expense: 4300
Maintenance Expense: 13500
Net Operating Income: 84759
New Taxes Expense: 8990
Other Expense: 1500

Unit 1 Details

Unit ID: Yes
Annual Rent: 22500
Unit SqFt: 2185
# Units (This Type): Yes
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): Yes
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): Yes
Furnished: Unfurnished
Unit Remarks: 2 attached units

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: Yes
See Remarks: Yes

Accessibility Features

Accessible Doors: Yes
Accessible Entrance: Yes
Accessible Hallway(s): Yes
Visitable: Yes
Visitor Bathroom: Yes

Construction Materials

Block: Yes
Metal Siding: Yes
Other: Yes

Cooling

Central Air: Yes
Electric: Yes

Current Use

Mini Storage: Yes

Electric

200+ Amp Service: Yes

Fencing

Back Yard: Yes
Vinyl: Yes

Flooring

Concrete: Yes

Heating

Central: Yes

Listing Terms

Cash: Yes
Conventional: Yes
Owner May Carry: Yes

Lot Features

Cleared: Yes

Owner Pays

All Utilities: Yes
Common Area Maintenance: Yes
Exterior Maintenance: Yes
Grounds Care: Yes
HVAC Maintenance: Yes
Insurance: Yes
Management: Yes
Repairs: Yes
Roof Maintenance: Yes
Sewer: Yes
Taxes: Yes
Water: Yes

Parking Features

Additional Parking: Yes
Parking Lot: Yes
Shared Driveway: Yes
Unassigned: Yes

Possession

Close Of Escrow: Yes

Road Frontage Type

City Street: Yes

Roof

Metal: Yes

Security Features

Closed Circuit Camera(s): Yes

Sewer

Public Sewer: Yes

Tenant Pays

None: Yes

Business Type

Storage: Yes

Ceiling Type

Drywall: Yes

Existing Lease Type

Gross: Yes

Location

Commerce Park: Yes
Industrial Park: Yes

Operating Expense Includes

Insurance: Yes
Maintenance: Yes
Professional Management: Yes
Utilities: Yes
Vacancy Allowance: Yes
Water/Sewer: Yes

Sale Includes

Building & Land: Yes

Listing Office: Collado Real Estate

Last Updated: October - 19 - 2024

Information deemed reliable but not guaranteed.

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