424 Luna Bella Lane B+C, New Smyrna Beach, FL 32168
Overview
Description
Supplements: ... (Read more) The Downtown Venetian Bay Town Center has approximately 2,000 homes within a short walking distance and over 2,900 homes currently, with plans to grow to over 4,000 homes at full build-out. Additionally, there are 322 apartments under construction across the street. Currently estimated to be over 7,000 potential customers with over $75,000 plus Average Household Income. No hassle investment with Condo Association handling all building and grounds maintenance. Building signage available. Cash-in on local growth today! Two Commercial Condos totaling 6,604 SF with storefront on busy Luna Bella Lane Unit C (Suite 131): 4,354 SF is leased by Snap Fitness through April 2033 Unit B (Suite 133): 2,250 SF is vacant and available for lease at projected $24.00 per SF base rent Projected Initial Cap Rate 7.8% with both units leased Projected Overall Cap Rate 9.1% when factoring in all increases
Listing Details MLS# 1119218
General Property Information
- Number Of Units Total
- 2
- Building Area Total
- 6604
- Year Built
- 2007
- Association YN
- No
- Water Body Access YN
- No
- Waterfront YN
- No
- Directions
- Located west of Interstate 95 between Pioneer Trail and SR 44 just off Airport Road.
- Public Remarks
- Two Commercial Condos totaling 6,604 SF with storefront on busy Luna Bella Lane. -Unit C (Suite 131): 4,354 SF is leased by Snap Fitness through April 2033. $62,819.12 Current Annual Base Rent 1/1/2024-12/31/2024, 4% annual increases except 2029 which has 19% increase, PLUS Tenant pays condo dues and real estate taxes. -Unit B (Suite 133): 2,250 SF is vacant and available for lease at projected $24.00 per SF base rent. $54,000 Annual Base Rent, PLUS Tenant will pay condo dues and real estate taxes. Projected Initial Cap Rate 7.8% with both units leased. Projected Overall Cap Rate 9.1% when factoring in all increases. Location has some of the best demographics in East Volusia County.
- List Price/SqFt
- 227.14
- Sold Price/SqFt
- 93.5
Property Features
Contract Information
- Listing Contract Date
- 2024-02-07
- Property Sub Type
- Business
Location Tax and Legal
- Street Number
- 424
- Street Name
- Luna Bella
- Street Suffix
- Lane
- County
- Volusia
- State
- FL
- Postal Code
- 32168
- MLS Area Major
- 97 - New Smyrna Beach S of Pioneer, W of 95
Status Change Information
- Major Change Timestamp
- 2024-07-12T17:24:34Z
- Major Change Type
- Status Change
- Purchase Contract Date
- 2024-05-22
- Close Date
- 2024-07-12
- Close Price
- 617500
Building Features
- Vac Off/Retail SqFt
- 6604
- Showroom
- Yes
More Information
Historical Information
- Public Historical Remarks 1
- Zoning (Text): PUD; Bldg Type/Location: Attached; SqFt - Total: 6604.00; Confidential Listing: N; Franchise Opt In: No
Location, Tax, and Legal
- Country
- US
- Parcel Number
- 7307-04-00-0020 & 7307-04-00-0030
- Tax Legal Description
- x
Currently Not Used
- Unit Number
- B+C
- Year Built
- 2007
Current Use
- Residential
- Yes
- Retail
- Yes
Business Type
- Commercial
- Yes
- Professional Service
- Yes
- Professional/Office
- Yes
- Residential
- Yes
- Retail
- Yes
Sale Includes
- Building & Land
- Yes