902 Leavitt Avenue S 1, Orange City, FL 32763
$760,000
Property Type:
Commercial Sale
Square Footage:
8,064
Lot Size (sq. ft.):
29,625
Status:
Closed
Current Price:
$760,000
List Date:
8/21/2024
Last Modified:
11/04/2024
Description
Great Opportunity to buy a multi-tenant industrial building in Orange City for just over $100/Square Foot. Small industrial units are in high demand. Purchase and re-lease to market rates or convert to industrial condos. Masonry building. 8 bays, each with a restroom. Some bays combined. Area on north side of building can be used for storage with fence/screening. Fully occupied at well below market rates by 5 long term tenants. All leases expire at the end of 2024 allowing all to be brought up to current market rates. Out of state owner with limited knowledge of the property. Property could use some cleanup but in overall fair to average condition. Interior of all units may not be accessible during showings. Information herein is based on brokers limited inspection of the property and conversations with an onsite manager/tenant and current property owner.
More Information MLS# 1201005
General Property Information
Lot Size Acres: 0.6801
Number Of Units Total: 8
Association YN: No
Water Body Access YN: No
Waterfront YN: No
Senior Community YN: No
Directions: S Volusia Avenue to East on Ohio Avenue. Property at the intersection of Leavitt Avenue and the end of Ohio Avenue.
Public Remarks: Great Opportunity to buy a multi-tenant industrial building in Orange City for just over $100/Square Foot. Small industrial units are in high demand. Purchase and re-lease to market rates or convert to industrial condos. Masonry building. 8 bays, each with a restroom. Some bays combined. Area on north side of building can be used for storage with fence/screening. Fully occupied at well below market rates by 5 long term tenants. All leases expire at the end of 2024 allowing all to be brought up to current market rates. Out of state owner with limited knowledge of the property. Property could use some cleanup but in overall fair to average condition. Interior of all units may not be accessible during showings. Information herein is based on brokers limited inspection of the property and conversations with an onsite manager/tenant and current property owner.
Building Area Total: 8064
Stories Total: 1
Building Area Source: Public Records
Land Lease YN: No
List Price/SqFt: 105.41
Sold Price/SqFt: 94.25
Year Built: 1986
Location, Tax, and Legal
Country: US
Parcel Number: 8011-00-00-0104
Tax Annual Amount: 5887
Tax Year: 2023
Tax Legal Description: 11 18 30 E 237 FT OF W 267 FT OF S 125 FT OF N 140 FT OF S 1/2 OF N 1/2 OF SE 1/4 PER OR 2842 PG 1127 PER OR 6567 PGS 3362 & 3364
Zoning Description: Industrial
Currently Not Used
Unit Number: 1
Additional Parcels YN: No
Year Built: 1986
Lock Box Type
See Remarks: 1
Construction Materials
Block: 1
Concrete: 1
Current Use
Industrial: 1
Fencing
Back Yard: 1
Flooring
Concrete: 1
Heating
None: 1
Lot Features
Other: 1
Parking Features
Parking Lot: 1
Road Frontage Type
City Street: 1
Roof
Shingle: 1
Sewer
Septic Tank: 1
Unit 1 Details
Unit ID: 1
Annual Rent: 5160
Unit SqFt: 1008
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: Below Market Lease through end of 2024
Unit 2 Details
Unit ID: 2
Annual Rent: 4320
Unit SqFt: 1008
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: Below Market Lease through end of 2024
Unit 3 Details
Unit ID: 3
Annual Rent: 4320
Unit SqFt: 1008
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: Below Market Lease through end of 2024
Unit 4 Details
Unit ID: 4
Annual Rent: 4440
Unit SqFt: 1008
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: Below Market Lease through end of 2024
Unit 5 Details
Unit ID: 5
Annual Rent: 5352
Unit SqFt: 1008
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: Below Market Lease through end of 2024
Unit 6 Details
Unit ID: 6
Annual Rent: 5040
Unit SqFt: 1008
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: Below Market Lease through end of 2024
Unit 7 Details
Unit ID: 7
Annual Rent: 5040
Unit SqFt: 1008
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: Below Market Lease through end of 2024
Unit 8 Details
Unit ID: 8
Annual Rent: 5040
Unit SqFt: 1008
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: Below Market Lease through end of 2024
Utilities
Electricity Connected: 1
Water Connected: 1
Water Source
Public: 1
Building Features
# Overhead Doors: 8
Ceiling Eve Height: 12
Overhead Doors: 1
Business Type
Industrial: 1
Warehouse: 1
Existing Lease Type
Gross: 1
Sale Includes
Building & Land: 1
Contract Information
Current Price: $760,000
Sold Price: $760,000
Status: Closed
Listing Contract Date: 2024-07-01
Property Sub Type: Industrial
Location Tax and Legal
Street Number: 902
Street Name: Leavitt
Street Suffix: Avenue
Street Direction Suffix: S
County: Volusia
State: FL
Postal Code: 32763
MLS Area Major: 90 - West Volusia
Status Change Information
Major Change Timestamp: 2024-11-04T15:39:39Z
Major Change Type: Status Change
Purchase Contract Date: 2024-10-01
Close Date: 2024-11-04
Close Price: 760000
Property Features
Building Features: Overhead Doors
Business Type: Industrial; Warehouse
Construction Materials: Block; Concrete
Current Use: Industrial
Existing Lease Type: Gross
Fencing: Back Yard
Flooring: Concrete
Heating: None
Lock Box Type: See Remarks
Lot Features: Other
Parking Features: Parking Lot
Road Frontage Type: City Street
Roof: Shingle
Sale Includes: Building & Land
Sewer: Septic Tank
Utilities: Electricity Connected; Water Connected
Water Source: Public
Listing Office:
Heffington And Associates
Last Updated: November - 04 - 2024
Information deemed reliable but not guaranteed.