Shopping Strip
Orange Shopping Center
955 Orange Ave, Daytona Beach, FL 32114
Listing Price: $1,500,000
Investment Overview
Marcus & Millichap is pleased to present the exclusive opportunity to acquire Orange Shopping Center, a 24,000+ square-foot neighborhood retail center located in Daytona Beach, Florida. Built in 1980 and situated on 1.89 acres, the property consists of one single-story building with excellent visibility along Orange Ave, just off S Nova Rd and W International Speedway Blvd. The plaza is 83% percent occupied across eight suites, providing investors with immediate in-place cash flow in one of Florida’s fastest-growing coastal markets. The property is priced well below replacement cost at $70.83 per SF
Orange Shopping Center presents a compelling mark-to-market opportunity, with in-place rents averaging approximately $7.62 per square foot, well below the CoStar-reported submarket average of $16.34 per square foot NNN. This gap represents more than 50 percent upside potential through re-leasing and renewals. Given the existing tenant base and portfolio of lease expirations, the property is well positioned to capture substantial rental growth and drive value creation over time.
Orange Shopping Center
Investment Highlights
- High Traffic Counts | Over 10,000 VPD on Orange Ave and 39,000 VPD on S Nova Rd Providing Strong Daily Exposure
- Mark-To-Market Opportunity | In-Place Rents Average $7.62/SF Gross versus Costar's Submarket Average of $16.34/SF NNN, With Short-Term Leases and Renewal Options Providing Clear Path To Capture Upside
- Excellent Visibility & Access | 320+ Feet of Frontage Along Orange Ave With Prominent Pylon Signage, One Block Away From S Nova Rd And Less Than 0.5 Miles From W International Speedway Blvd
- Rapid Trade Area Expansion | Population Within A Three-Mile Radius Is Projected To Grow By 8,000 Residents to 82,000 Residents by 2029
- Coastal Florida Market | Located In Daytona Beach, One Of Florida's Fastest-Growing Coastal Regions, Benefiting From Both Local Household Demand And Regional Commuter Traffic
Exclusively Listed By
Broker of Record
-
Ryan Nee
Executive Managing Director, Chief Revenue Officer- Southeast/Mid-Atlantic Division
Listing Price: $1,500,000
Investment Highlights
- High Traffic Counts | Over 10,000 VPD on Orange Ave and 39,000 VPD on S Nova Rd Providing Strong Daily Exposure
- Mark-To-Market Opportunity | In-Place Rents Average $7.62/SF Gross versus Costar's Submarket Average of $16.34/SF NNN, With Short-Term Leases and Renewal Options Providing Clear Path To Capture Upside
- Excellent Visibility & Access | 320+ Feet of Frontage Along Orange Ave With Prominent Pylon Signage, One Block Away From S Nova Rd And Less Than 0.5 Miles From W International Speedway Blvd
- Rapid Trade Area Expansion | Population Within A Three-Mile Radius Is Projected To Grow By 8,000 Residents to 82,000 Residents by 2029
- Coastal Florida Market | Located In Daytona Beach, One Of Florida's Fastest-Growing Coastal Regions, Benefiting From Both Local Household Demand And Regional Commuter Traffic
Investment Overview
Marcus & Millichap is pleased to present the exclusive opportunity to acquire Orange Shopping Center, a 24,000+ square-foot neighborhood retail center located in Daytona Beach, Florida. Built in 1980 and situated on 1.89 acres, the property consists of one single-story building with excellent visibility along Orange Ave, just off S Nova Rd and W International Speedway Blvd. The plaza is 83% percent occupied across eight suites, providing investors with immediate in-place cash flow in one of Florida’s fastest-growing coastal markets. The property is priced well below replacement cost at $70.83 per SF Orange Shopping Center presents a compelling mark-to-market opportunity, with in-place rents averaging approximately $7.62 per square foot, well below the CoStar-reported submarket average of $16.34 per square foot NNN. This gap represents more than 50 percent upside potential through re-leasing and renewals. Given the existing tenant base and portfolio of lease expirations, the property is well positioned to capture substantial rental growth and drive value creation over time.
Exclusively Listed By
Broker of Record
-
Ryan Nee
Executive Managing Director, Chief Revenue Officer- Southeast/Mid-Atlantic Division
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