1308 S Ridgewood Ave - Storefront FOR SALE


Edgewater, FL 32132
$3,524,000 USD
813-434-8278
1308 S Ridgewood Ave, Edgewater, FL for Sale
$3,524,000 USD
Storefront - FOR SALE
1/9
null | 6.75% Cap Rate

1308 S Ridgewood Ave
Edgewater, FL 32132


HIGHLIGHTS

  • Strong Tenant Lineup | 100% Occupied | NNN Leases | Annual Rental Increases
  • S Ridgewood Ave (30,500 VPD) | Highway Commercial (B-3) | Brand-New Construction | Excellent Visibility & Access
  • Florida Shores Plaza (81,000 SF) | Dense Retail Corridor | New Smyrna Beach Regional Center (213,000 SF) | Rapidly Growing Cannabis Market
  • Strong Demographics in 5-mile Trade Area

OVERVIEW

• The Property totals 4,887 SF and is divided into two suites with Taco Bell occupying 1,887 SF and Planet 13 Holdings utilizing the remaining 3,000 SF • The brand new Taco Bell lease features 2% annual rental increases and the Planet 13 lease features a 10% rental increase at the beginning of year 6 • Both tenants will see these increases throughout the initial term and option periods, steadily growing NOI and hedging agaisnt inflation • The offering consists of a 100% occupied diverse ecommerce resistant tenant lineup comprised of service tenants, creating a stabilized income stream for a new investor • Both tenants recently signed brand-new long-term leases which are NNN in nature, limiting expense leakage for a future investor

FOR SALE DETAILS

PRICE

$3,524,000 USD

PRICE/SF

$721 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Taco Bell & Planet 13 - Edgewater FL

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

34

LAND DETAILS

LAND ACRES

1.2 AC

LAND SF

52,272 SF

ZONING

B-3

APN/PARCEL ID

7433-01-00-0250

ASK ABOUT THIS PROPERTY

William WambleSRS Real Estate PartnersMore Info
813-434-8278

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William WambleSRS Real Estate PartnersMore Info
813-434-8278

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.