Listed by Marcus & Millichap - Cleveland
$4,150,000
433 Walker St
Details
Property Type Industrial
Sub Type Warehouse, Freestanding
Square Footage 32,008
Net Rentable (SqFt) 32,008
Units 18
Cap Rate 8.08%
NOI $335,244
Occupancy 100%
Pro-Forma Cap Rate 9.25%
Pro-Forma NOI $383,936
Price per SqFt $133
Class C
Year Built 2000
Buildings 1
Stories 1
Acreage 4.480
Zoning I-2
Investment Type Stabilized
Industrial | 8.08% CAP | 32,008 SqFt
Marketing description
RIPCO Real Estate is pleased to present the opportunity to acquire a fully stabilized industrial investment located at 433 Walker Street in Holly Hill, Florida. This 32,008-square-foot asset is 89% leased across 18 suites, offering a diversified rent roll and immediate in-place income.
Positioned within a high-demand industrial submarket near LPGA Boulevard, US-1, and I-95—and just minutes from Daytona International Speedway and Daytona Beach—the property benefits from excellent regional connectivity and tenant accessibility. The area maintains a strong industrial occupancy rate of approximately 93%, with projected annual rental growth exceeding 6%.
This investment offers rare income performance in today’s market, with an initial total return of 10.14% and a capitalization rate of 8.08%. Conservative pro forma projections estimate a 13.63% yield, presenting significant upside as leases roll to market rates. A new roof installed in 2024 further enhances the asset’s long-term value and operating stability.
This is a compelling opportunity for investors seeking immediate cash flow, embedded rent growth, and minimal capital expenditure in a thriving Central Florida industrial market.
Investment highlights
- Stabilized, income-producing asset - the property is 89%leased across 18 suites, providing immediate in-place income and a diversified tenant base for reduced vacancy risk.
- Strategic central Florida location - located in the high-demand holly hill submarket, the asset benefits from proximity to major roadways (LPGA Blvd, us-1, i-95) and key landmarks like Daytona International Speedway and Daytona Beach.
- Strong market fundamentals - the surrounding industrial market boasts a 93% occupancy rate with projected annual rent growth exceeding 6%, indicating a robust and rising demand environment.
- Attractive financial performance - the asset delivers a compelling initial total return of 10.13% and an 8.08% cap rate, with a projected 13.6% yield based on conservative pro forma estimates as leases transition to market rates.
- Long-term stability with minimal capex - a new roof installed in 2024 significantly reduces near-term capital expenditure, enhancing operational stability and long-term value.
Listing Contacts
Listed by Marcus & Millichap - Cleveland
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$335,244.00
$27,937.00/mo
Valuation Metrics
0
DSCR
8.08%
Cap Rate
8.08%
ROI
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