902 Leavitt Avenue S 1, Orange City, FL 32763 (MLS# 1201005)

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

Overview

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.

Listing Details MLS# 1201005

General Property Information

Number Of Units Total: 8
Building Area Total: 8064
Building Area Source: Public Records
Year Built: 1986
Lot Size Acres: 0.6801
Land Lease YN: No
Association YN: No
Water Body Access YN: No
Waterfront YN: No
Stories Total: Yes
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.
List Price/SqFt: 105.41
Sold Price/SqFt: 94.25

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

Contract Information

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

Building Features

# Overhead Doors: 8
Ceiling Eve Height: 12
Overhead Doors: Yes

More Information

Unit 1 Details

Unit ID: Yes
Annual Rent: 5160
Unit SqFt: 1008
# Units (This Type): Yes
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): Yes
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): Yes
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): Yes
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): Yes
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): Yes
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): Yes
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): Yes
Furnished: Unfurnished
Unit Remarks: Below Market Lease through end of 2024

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: Yes
Additional Parcels YN: No
Year Built: 1986

Lock Box Type

See Remarks: Yes

Construction Materials

Block: Yes
Concrete: Yes

Current Use

Industrial: Yes

Fencing

Back Yard: Yes

Flooring

Concrete: Yes

Heating

None: Yes

Lot Features

Other: Yes

Parking Features

Parking Lot: Yes

Road Frontage Type

City Street: Yes

Roof

Shingle: Yes

Sewer

Septic Tank: Yes

Utilities

Electricity Connected: Yes
Water Connected: Yes

Water Source

Public: Yes

Business Type

Industrial: Yes
Warehouse: Yes

Existing Lease Type

Gross: Yes

Sale Includes

Building & Land: Yes

Listing Office: Heffington And Associates

Last Updated: November - 04 - 2024

Information deemed reliable but not guaranteed.

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