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Office Warehouse

Daytona Business Park

405 N Charles St, Daytona Beach, FL 32114

Listing Price: $1,525,000

Cap Rate
8.00%
Gross SF
36,550
Price/Gross SF
$41.72
Lot Size
3.45 acres
Year Built
1970
Rentable SF
36,550

Investment Overview

405 N. Charles Street is a 37,000 square foot Industrial Building on 3.45 Acres of land. The property is located at the signalized intersection of N. Charles St and George W. Engram Blvd in South Daytona Beach, FL where it connects to the core retail node of the Greater Daytona area. Built in 1970, this asset is 100% leased and includes a gated lot designed as an RV Park adjacent to the building. Twelve months projected net income of the property is $122,000 including $12,000 annual income from the gated recreational vehicle lot. 405 N. Charles Street is offered at a purchase price of $1.52M which represents an 8% cap, or approximately $42 per square foot of built area. The Daytona Beach community positioned at the nexus of I-4 & I-95 projects a population that is steadily growing, which further provides the potential for redevelopment of the subject site in the future. Surrounded by car-dealerships and other complimentary businesses, the property serves the area well, with its tenant mix of Auto Machine Works, Auto Repair, International Trading, Restaurant Solutions, and PC Repair.

Investment Highlights

  • 100% leased Industrial Property with gated RV park
  • Average rent of $4.67 per square foot is below market rent of $6 per sf
  • Daytime Population of 165,000 in 5-mile radius, 103,000 Households in 10-mile radius

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Office Warehouse

Daytona Business Park

Listing Price: $1,525,000

Cap Rate
8.00%
Gross SF
36,550
Price/Gross SF
$41.72
Lot Size
3.45 acres
Year Built
1970
Rentable SF
36,550

Investment Highlights

  • 100% leased Industrial Property with gated RV park
  • Average rent of $4.67 per square foot is below market rent of $6 per sf
  • Daytime Population of 165,000 in 5-mile radius, 103,000 Households in 10-mile radius

Investment Overview

405 N. Charles Street is a 37,000 square foot Industrial Building on 3.45 Acres of land. The property is located at the signalized intersection of N. Charles St and George W. Engram Blvd in South Daytona Beach, FL where it connects to the core retail node of the Greater Daytona area. Built in 1970, this asset is 100% leased and includes a gated lot designed as an RV Park adjacent to the building. Twelve months projected net income of the property is $122,000 including $12,000 annual income from the gated recreational vehicle lot. 405 N. Charles Street is offered at a purchase price of $1.52M which represents an 8% cap, or approximately $42 per square foot of built area. The Daytona Beach community positioned at the nexus of I-4 & I-95 projects a population that is steadily growing, which further provides the potential for redevelopment of the subject site in the future. Surrounded by car-dealerships and other complimentary businesses, the property serves the area well, with its tenant mix of Auto Machine Works, Auto Repair, International Trading, Restaurant Solutions, and PC Repair.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

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