Property tours are available by appointment ONLY. Please contact Richard Darling at 386-216-4711 or richardndarling@gmail.com. Investment Highlights ±7,080 SF single-story retail center Property is currently ±45% occupied with ±3,600 SF of vacant space Value-add through lease-up of vacant units Situated on a ±0.59 acre parcel with ±13 surface parking stalls Conveniently located near both public transportation and FL-472 Investment Overview Volusia Avenue Strip Center (the “Property”) is a ±7,080 SF, single-story, retail building located in Orange City, Florida. The Property is located at 2461–2491 N Volusia Avenue, situated on a ±0.59 acre parcel near the signalized intersection of North Volusia Avenue and Minnesota Avenue, minutes from Interstate 4. The improvements were built in 1977 with renovations in 2010 and has ±6,600 net rentable SF demised into four units. Currently ±45% leased, local tenants include Subcultures and Byte America, LLC with an additional ±3,600 SF of vacant space available for lease. The average daily traffic count on N Volusia Avenue, at the side street of Sherman Street, exceeds 29,400 vehicles. The Property has ±13 surface parking stalls in front of the stores. The Property is conveniently located just south of Highway 472, the main connection to Interstate 4, and is only one block from public transportation. Located ±4.4 miles south of Deland, the Property is only ±27.6 miles southwest of the CBD of Daytona Beach, and approximately 34 miles north of the CBD of Orlando. Deland is the home of Stetson University, the oldest college in Florida. Airports in the area include Deland Municipal Airport, located ±10 miles to the north, Daytona Beach International Airport, approximately 25 miles to the northeast, and the Orlando International Airport, which is within 50 miles to the south. Surrounding land uses include commercial and retail properties to the north and south, and primarily residential to the east and west. The area’s demographics include an estimated 2017 population of ±32,213 people with an average household income of ±$61,407 within a 3-mile radius of the Property. The Most Recent NOI for the period ending December 2016 was $26,487 with a Year One As-Is NOI estimated at $21,894. The investment offers potential upside with the opportunity to lease up ±3,600 SF of vacant space at market rates.
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Retail Space
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