424 Luna Bella Ln, Unit B+c, New Smyrna Beach, FL

$1,500,000

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6,604

Square feet

About 424 Luna Bella Ln, Unit B+c

Two Commercial Condos totaling 6,604 SF with storefront on busy Luna Bella Lane.-Unit C (Suite 131): 4,354 SF is leased by Snap Fitness through April 2033.$62,819.12 Current Annual Base Rent 1/1/2024-12/31/2024, 4% annual increases except 2029 which has 19% increase, PLUS Tenant pays condo dues and real estate taxes.-Unit B (Suite 133): 2,250 SF is vacant and available for lease at projected $24.00 per SF base rent.$54,000 Annual Base Rent, PLUS Tenant will pay condo dues and real estate taxes.Projected Initial Cap Rate 7.8% with both units leased. Projected Overall Cap Rate 9.1% when factoring in all increases.Location has some of the best demographics in East Volusia County.The Downtown Venetian Bay Town Center has approximately 2,000 homes within a short walking distance and over 2,900 homes currently, with plans to grow to over 4,000 homes at full build-out. Additionally, there are 322 apartments under construction across the street. Currently estimated to be over 7,000 potential customers with over $75,000 plus Average Household Income. No hassle investment with Condo Association handling all building and grounds maintenance. Building signage available. Cash-in on local growth today! Two Commercial Condos totaling 6,604 SF with storefront on busy Luna Bella Lane Unit C (Suite 131): 4,354 SF is leased by Snap Fitness through April 2033 Unit B (Suite 133): 2,250 SF is vacant and available for lease at projected $24.00 per SF base rent Projected Initial Cap Rate 7.8% with both units leased Projected Overall Cap Rate 9.1% when factoring in all increases

Features of 424 Luna Bella Ln, Unit B+c

MLS® # 1119218
Price $1,500,000
Square Footage 6,604
Year Built 2007
Type Commercial/Industrial
Sub-Type Comm-Land & Bldg Incl
Status Active

Community Information

Address 424 Luna Bella Ln, Unit B+c
Area 97 - New Smyrna Beach S of Pioneer, W of 95
City New Smyrna Beach
County Volusia
State FL
Zip Code 32168

Amenities

Is Waterfront No

Additional Information

Zoning PUD
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

OfficeSVN Alliance Commercial Real Estate Advisors

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