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2220 Hibiscus Drive, Edgewater, FL 32141

$758,000
Property Type: Commercial Sale Baths: 2 Square Footage: 6,083 Lot Size (sq. ft.): 26,959 Status: Closed
Current Price: $758,000 List Date: 6/30/2024 Last Modified: 10/18/2024

Description

This property is for THE COMBINED SALE offering of 2220 Hibiscus AND 2030 Hibiscus Drive (MLS #1200120) Edgewater, Florida at a TOTAL SALES PRICE OF $2.360M. The COMBINED total SQ FT is 16.103. There are a total of 64 rental units on these TWO well maintained properties located within a 1/ 4 mile of each other in the Commercial District of Edgewater. FL. It's a unique combination of a glass-front office building and a storage facility, catering to a variety of business needs. The 9 unit office building features large roll-up back doors designed for storage purposes, providing flexibility for businesses requiring both office space and storage solutions. The 40 ft deep retail spaces within the building are currently utilized effectively in many ways, offering a range of opportunities with street visibility for different types of businesses. Each unit in the building is separately metered, allowing tenants to pay their own utilities, helping to streamline the operational costs.

Supplements: Adding to the property's appeal is the rear building, which provides 2,000 square feet of storage space divided into 15 units. This additional storage capacity enhances the property's value and rental potential, offering secure and accessible storage solutions. With three 10 x 10 units, eight 10 x 20 units, and an additional four 5 x 8 unit, tenants have a selection of storage spaces to choose from based on their requirements. This variation in sizes not only accommodates different storage needs but also enhances the property's rental potential by appealing to a broader market of potential tenants. Ensuring the security and peace of mind of tenants is a top priority at this property. The storage units are located within a fenced and gated area, adding an extra layer of safety and protection for stored belongings. The roll-up doors further streamline the moving-in and moving-out process, making it hassle-free for tenants to access their storage space. Seize the opportunity to own a property that not only combines office and storage facilities but also offers a highly functional and diverse storage solution with ease of access and maximizes rental income potential. This property is poised to be a valuable asset in the commercial real estate market.

More Information MLS# 1200903

General Property Information

Lot Size Acres: 0.6189 Number Of Units Total: 24 Association YN: No Water Body Access YN: No Waterfront YN: No Senior Community YN: No Directions: South on US 1 to SR 2 turn R head W to Hibiscus, turn L head South to 2220 on the right. Public Remarks: This property is for THE COMBINED SALE offering of 2220 Hibiscus AND 2030 Hibiscus Drive (MLS #1200120) Edgewater, Florida at a TOTAL SALES PRICE OF $2.360M. The COMBINED total SQ FT is 16.103. There are a total of 64 rental units on these TWO well maintained properties located within a 1/ 4 mile of each other in the Commercial District of Edgewater. FL. It's a unique combination of a glass-front office building and a storage facility, catering to a variety of business needs. The 9 unit office building features large roll-up back doors designed for storage purposes, providing flexibility for businesses requiring both office space and storage solutions. The 40 ft deep retail spaces within the building are currently utilized effectively in many ways, offering a range of opportunities with street visibility for different types of businesses. Each unit in the building is separately metered, allowing tenants to pay their own utilities, helping to streamline the operational costs. Building Area Total: 6083 Stories Total: 1 Land Lease YN: No List Price/SqFt: 160.28 Sold Price/SqFt: 124.61 Bathrooms Total: 2 Year Built: 1990

Location, Tax, and Legal

Country: US Parcel Number: 8402-01-06-8700 Tax Annual Amount: 7065 Tax Year: 2023 Tax Legal Description: LOTS 6870 TO 6873 INC BLK 225 FLORIDA SHORES UNIT NO 7 MB 23 PG 131 PER OR 4809 PGS 0023-0024 PER OR 6707 PG 3196 PER OR 6708 PG 2760 PER OR 7414 PGS 4668-4669 PER OR 8085 PG 4469 Zoning Description: Commercial

Currently Not Used

Additional Parcels YN: No Bathrooms Total: 2 Year Built: 1990 Accessibility Features YN: Yes Building Name: Edgewater Plaza & Storage

Lock Box Type

See Remarks: 1

Accessibility Features

Accessible Entrance: 1 Accessible Hallway(s): 1 Common Area: 1 Visitor Bathroom: 1

Construction Materials

Concrete: 1 Stucco: 1

Cooling

Ductless: 1 Electric: 1 Separate Meters: 1

Current Use

Commercial: 1 Mini Storage: 1 Mixed Use: 1 Office: 1 Retail: 1

Electric

200+ Amp Service: 1

Fencing

Back Yard: 1 Chain Link: 1 Fenced: 1

Flooring

Concrete: 1

Heating

Central: 1 Electric: 1 Separate Meters: 1

Income and Expenses

Gross Income: 85092 Insurance Expense: 4300 Maintenance Expense: 1500 New Taxes Expense: 7000 Total Actual Rent: 85092

Listing Terms

Cash: 1 Private Financing Available: 1 Other: 1

Lot Features

Cleared: 1 Few Trees: 1

Owner Pays

Common Area Maintenance: 1 Exterior Maintenance: 1 Grounds Care: 1 Insurance: 1 Management: 1 Repairs: 1 Roof Maintenance: 1 Sewer: 1 Taxes: 1 Trash Collection: 1 Water: 1

Parking Features

Additional Parking: 1 Parking Lot: 1

Possession

Close Of Escrow: 1 Subject To Tenant Rights: 1

Road Frontage Type

City Street: 1

Roof

Shingle: 1

Security Features

Closed Circuit Camera(s): 1 Security Fence: 1 Security Gate: 1 Security Lights: 1 Smoke Detector(s): 1

Sewer

Public Sewer: 1

Tenant Pays

Electricity: 1 Telephone: 1

Unit 1 Details

Unit ID: 1-2 Annual Rent: 13044 Unit SqFt: 960 # Units (This Type): 2 Furnished: Unfurnished Unit Remarks: Double office space

Unit 2 Details

Unit ID: 3 Annual Rent: 4403 Unit SqFt: 480 # Units (This Type): 7 Furnished: Unfurnished Unit Remarks: Single office space

Unit 3 Details

Unit ID: 1-2 Annual Rent: 1788 Unit SqFt: 200 # Units (This Type): 2 Furnished: Unfurnished Unit Remarks: Rear building for storage

Unit 4 Details

Unit ID: 3-4 Annual Rent: 1344 Unit SqFt: 100 # Units (This Type): 1 Furnished: Unfurnished Unit Remarks: Exterior Storage

Unit 5 Details

Unit ID: 5-12 Annual Rent: 2064 Unit SqFt: 200 # Units (This Type): 8 Furnished: Unfurnished Unit Remarks: 10 x 20 storage unit

Unit 6 Details

Unit ID: 13-14-15 Annual Rent: 840 Unit SqFt: 40 # Units (This Type): 4 Furnished: Unfurnished Unit Remarks: Smallest Storage unit size

Unit 7 Details

Unit ID: NA Annual Rent: 0 Unit SqFt: 0 Furnished: Unfurnished Unit Remarks: Intentionally Left Blank

Unit 8 Details

Unit ID: NA Annual Rent: 0 Unit SqFt: 0 Furnished: Unfurnished Unit Remarks: Intentionally Left Blank

Utilities

Cable Available: 1 Electricity Connected: 1 Separate Electric Meters: 1 Sewer Connected: 1 Water Connected: 1

Water Source

Public: 1

Building Features

# Overhead Doors: 24 % Air Conditioned or Heated: 60 Asbestos Present: No Ceiling Eve Height: 8 Clear Ceiling Height: 11 Development Name: Hibiscus Plaza Fenced: 1 Manager on Premise: 1 Max Parking Space Available: 18 Maximum Ceiling Height: 11 Min Parking Space Available: 20 Overhead Door Height: 8 Overhead Doors: 1 Price Per Bldg SqFt: 168 Private Restroom: 1 Rear Access: 1 Storage: 1 Vac Warehouse SqFt: 0

Business Type

Accounting: 1 Administrative and Support: 1 Cabinets: 1 Carpet/Tile: 1 Commercial: 1 Computer: 1 Construction/Contractor: 1 Dance Studio: 1 Decorator: 1 Distribution: 1 Financial: 1 Hobby: 1 Mixed: 1 Professional Service: 1 Professional/Office: 1 Real Estate: 1 Retail: 1 Storage: 1 Other: 1

Ceiling Type

Drywall: 1 Insulated: 1

Existing Lease Type

Other: 1

Location

City: 1 Industrial Park: 1 Subdivision: 1

Operating Expense Includes

Insurance: 1 Licenses: 1 Maintenance: 1 Maintenance Grounds: 1 Water/Sewer: 1

Sale Includes

Building & Land: 1

Contract Information

Current Price: $758,000 Sold Price: $758,000 Status: Closed Listing Contract Date: 2024-06-30 Property Sub Type: Mixed Use

Location Tax and Legal

Street Number: 2220 Street Name: Hibiscus Street Suffix: Drive County: Volusia State: FL Postal Code: 32141 MLS Area Major: 80 - Edgewater

Status Change Information

Major Change Timestamp: 2024-10-18T21:28:06Z Major Change Type: Status Change Purchase Contract Date: 2024-09-17 Close Date: 2024-10-18 Close Price: 758000

Property Features

Accessibility Features: Accessible Entrance; Accessible Hallway(s); Common Area; Visitor Bathroom Building Features: Fenced; Manager on Premise; Overhead Doors; Private Restroom; Rear Access; Storage Business Type: Accounting; Administrative and Support; Cabinets; Carpet/Tile; Commercial; Computer; Construction/Contractor; Dance Studio; Decorator; Distribution; Financial; Hobby; Mixed; Professional Service; Professional/Office; Real Estate; Retail; Storage; Other Ceiling Type: Drywall; Insulated Construction Materials: Concrete; Stucco Cooling: Ductless; Separate Meters Current Use: Commercial; Mini Storage; Mixed Use; Office; Retail Electric: 200+ Amp Service Existing Lease Type: Other Fencing: Back Yard; Chain Link; Fenced Flooring: Concrete Heating: Central; Electric; Separate Meters Listing Terms: Cash; Private Financing Available; Other Location: Industrial Park; Subdivision Lock Box Type: See Remarks Lot Features: Cleared; Few Trees Operating Expense Includes: Insurance; Licenses; Maintenance; Maintenance Grounds; Water/Sewer Owner Pays: Common Area Maintenance; Exterior Maintenance; Grounds Care; Insurance; Management; Repairs; Roof Maintenance; Sewer; Taxes; Trash Collection; Water Parking Features: Additional Parking; Parking Lot Possession: Close Of Escrow; Subject To Tenant Rights Road Frontage Type: City Street Roof: Shingle Sale Includes: Building & Land Security Features: Closed Circuit Camera(s); Security Fence; Security Gate; Security Lights; Smoke Detector(s) Sewer: Public Sewer Tenant Pays: Electricity; Telephone Utilities: Cable Available; Electricity Connected; Separate Electric Meters; Sewer Connected; Water Connected Water Source: Public
Listing Office: Collado Real Estate
Last Updated: October - 18 - 2024
Information deemed reliable but not guaranteed.

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