Prime Ormond Beach Mixed-Use Portfolio
107,612 Total SF on 10 Acres | 100% Leased Retail Center (8.0% Cap Rate) + Turn-Key Office Building
Investment highlights
•107,612 SF Mixed-Use Portfolio Consisting of:
-Fully Occupied 78,212 SF Multi-Tenant Retail Center Anchored by Kalin Home Furnishings
-Vacant 29,400 SF Office Building (Most Recently Occupied by a Medical Billing Tenant)
•Kalin has Served Ormond Beach at This Location for 60+ Years | Will Execute a 5-Year Sale-Leaseback at Close of Escrow for Their 73% of the Retail Center
•Office Building is in Turn-Key Condition with High-End Finishes and Nice Offices Throughout | Fixtures and Equipment Convey with Sale
•Properties Can Be Subdivided and Sold Separately –See Agent for Further Details
•Over 600’ of Direct Frontage Along US-1 (24,500 AADT) | Five Entry Points & Monument Signage
•Value-Add Upside Through Lease-Up of Office Building & Below Market Retail Rents
•Hard Corner Location Situated on a Large 9.48 Acre Parcel with Ample Parking | Separate Parking Lot for Office Building Offers Flexibility for Future Lot Split
•Tight Submarket with 4.4% Vacancy Rate
•Five Mile Demographics: 106,000 Population & $78,000 Average Household Income
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