Listed by Marcus & Millichap - Orlando
$6,000,000
Prime Ormond Beach Retail Center
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 78,212
Net Rentable (SqFt) 78,212
Cap Rate 8%
NOI $480,011
Tenancy Multi
Lease Type Modified
Price per SqFt $77
Class B
Year Built 1964
Acreage 6.300
Investment Type Stabilized
Ground Lease No
100% Leased | Sale-Leaseback w/ Anchor Tenant | 8% Cap Rate
Marketing description
Prime Ormond Beach Retail Center at 280-298 S Yonge St, Ormond Beach, FL 32174 offers a rare opportunity to acquire a fully occupied, 78,212 SF multi-tenant retail center on approximately 6.3 acres along highly visible US-1. Anchored by Kalin Home Furnishings, a long-standing local retailer serving this location for more than 60 years, the property delivers immediate stability with a planned 5-year sale-leaseback covering 73% of the center.
Positioned with more than 420 feet of direct frontage on S Yonge Street and traffic counts of 24,500 vehicles per day, the asset benefits from three points of ingress/egress, monument signage, and ample parking. The tenant mix also includes Tropicasual, in place since 2000, and Dermacare Research Labs, creating a strong blend of established occupancy and dependable cash flow.
Located in a tight retail submarket with just a 4.4% vacancy rate, the property is supported by strong surrounding demographics, including more than 106,000 residents within five miles and average household income of approximately $78,000. Offered at $6,000,000, this high-visibility center presents an attractive value-add and income-producing investment in one of Central Florida’s growing coastal markets.
Investment highlights
•Fully Occupied 78,212 SF Multi-Tenant Retail Center Anchored by Kalin Home Furnishings
•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
•Over 420’ of Direct Frontage Along US-1 (24,500 AADT) | Three Entry Points & Monument Signage
•Situated on a Large 6.30 Acre Parcel with Ample
•Tight Submarket with 4.4% Vacancy Rate
•Five Mile Demographics: 106,000 Population & $78,000 Average Household Income
•Adjacent 29,400 SF Office Building Also for Sale – See Agent for Details
Listing Contacts
Listed by Marcus & Millichap - Orlando
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$480,011.00
$40,000.92/mo
Valuation Metrics
0
DSCR
8%
Cap Rate
8%
ROI
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