2220 Hibiscus Drive, Edgewater, FL 32141 (MLS# 1200903)

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

Overview

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, tenant ... (Read more)

Listing Details MLS# 1200903

General Property Information

Number Of Units Total: 24
Bathrooms Total: 2
Building Area Total: 6083
Year Built: 1990
Lot Size Acres: 0.6189
Land Lease YN: No
Association YN: No
Water Body Access YN: No
Waterfront YN: No
Stories Total: Yes
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.
List Price/SqFt: 160.28
Sold Price/SqFt: 124.61

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

Contract Information

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

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
Max Parking Space Available: 18
Maximum Ceiling Height: 11
Min Parking Space Available: 20
Overhead Door Height: 8
Price Per Bldg SqFt: 168
Fenced: Yes
Manager on Premise: Yes
Overhead Doors: Yes
Private Restroom: Yes
Rear Access: Yes
Storage: Yes
Vac Warehouse SqFt: 0

More Information

Income and Expenses

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

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): Yes
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
Furnished: Unfurnished
Unit Remarks: Intentionally Left Blank
Annual Rent: 0
Unit SqFt: 0

Unit 8 Details

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

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: Yes

Accessibility Features

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

Construction Materials

Concrete: Yes
Stucco: Yes

Cooling

Ductless: Yes
Electric: Yes
Separate Meters: Yes

Current Use

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

Electric

200+ Amp Service: Yes

Fencing

Back Yard: Yes
Chain Link: Yes
Fenced: Yes

Flooring

Concrete: Yes

Heating

Central: Yes
Electric: Yes
Separate Meters: Yes

Listing Terms

Cash: Yes
Private Financing Available: Yes
Other: Yes

Lot Features

Cleared: Yes
Few Trees: Yes

Owner Pays

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

Parking Features

Additional Parking: Yes
Parking Lot: Yes

Possession

Close Of Escrow: Yes
Subject To Tenant Rights: Yes

Road Frontage Type

City Street: Yes

Roof

Shingle: Yes

Security Features

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

Sewer

Public Sewer: Yes

Tenant Pays

Electricity: Yes
Telephone: Yes

Utilities

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

Water Source

Public: Yes

Business Type

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

Ceiling Type

Drywall: Yes
Insulated: Yes

Existing Lease Type

Other: Yes

Location

City: Yes
Industrial Park: Yes
Subdivision: Yes

Operating Expense Includes

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

Sale Includes

Building & Land: Yes

Listing Office: Collado Real Estate

Last Updated: October - 18 - 2024

Information deemed reliable but not guaranteed.

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