Bank
Regions Bank (Redevelopment Opportunity)
555 Ridgewood Ave, Daytona Beach, FL 32117
Listing Price: $1,550,000
Investment Overview
Offered for sale is the opportunity to acquire an absolute net lease dark Regions Bank in Daytona Beach, Florida. The property consists of a 3,269-square-foot, freestanding building that includes an ATM drive-thru. There are approximately 2.6 years remaining on the current lease term. At the asking price, an investor should be able to lower their basis in the property, recapturing a percentage of their initial investment over the remaining lease term.
Regions Bank (Redevelopment Opportunity)
Investment Highlights
- Although Regions Bank has Vacated the Premise, They Still have 2.6 Years in Future Rent Obligations
- Daytona Beach Area Attracts Approximately 9 Million Visitors Every Year, Resulting in a Tourism Economic Impact of Around $4.4 Billion
- 5 Miles from Daytona International Airport and The Daytona International Speedway
- Signalized Hard Corner Location on Ridgewood Avenue and 6th Street (29,518 VPD) – Four Blocks from the Halifax Intracoastal Waterway
- Absolute Net Lease with 2.6 Years Remaining - Allows New Owner to Reposition Without Incurring NNN Costs
- The Property is Located in a Qualified Opportunity Zone
- Large 1.32 Acre Parcel with Ample Parking and Multiple Access Points
- Traffic Generators in the Area Include Ocean Center (Convention Center with an Estimated Attendance of 400,000 Annually) and Daytona City Walk
Exclusively Listed By
Broker of Record
Financing By
Listing Price: $1,550,000
Investment Highlights
- Although Regions Bank has Vacated the Premise, They Still have 2.6 Years in Future Rent Obligations
- Daytona Beach Area Attracts Approximately 9 Million Visitors Every Year, Resulting in a Tourism Economic Impact of Around $4.4 Billion
- 5 Miles from Daytona International Airport and The Daytona International Speedway
- Signalized Hard Corner Location on Ridgewood Avenue and 6th Street (29,518 VPD) – Four Blocks from the Halifax Intracoastal Waterway
- Absolute Net Lease with 2.6 Years Remaining - Allows New Owner to Reposition Without Incurring NNN Costs
- The Property is Located in a Qualified Opportunity Zone
- Large 1.32 Acre Parcel with Ample Parking and Multiple Access Points
- Traffic Generators in the Area Include Ocean Center (Convention Center with an Estimated Attendance of 400,000 Annually) and Daytona City Walk
Investment Overview
Offered for sale is the opportunity to acquire an absolute net lease dark Regions Bank in Daytona Beach, Florida. The property consists of a 3,269-square-foot, freestanding building that includes an ATM drive-thru. There are approximately 2.6 years remaining on the current lease term. At the asking price, an investor should be able to lower their basis in the property, recapturing a percentage of their initial investment over the remaining lease term.
Exclusively Listed By
Broker of Record
Financing By
