749 S Central Ave - Storefront Retail/Office FOR SALE


Umatilla, FL 32784
$2,000,000 USD
321-689-8000
749 S Central Ave, Umatilla, FL for Sale
$2,000,000 USD
Storefront Retail/Office - FOR SALE
1/47
null | Request Cap Rate

749 S Central Ave
Umatilla, FL 32784


HIGHLIGHTS

  • NEW ROOF, NEW AWNINGS, NEW HVAC, NEW BATHROOMS, NEW GUTTER SYSTEM, HALF OF THE CENTER HAS NEW FRONT ENTRANCES
  • 6 units with Many Long Time Established Tenants!! Individually metered units (Water and electric)
  • GIGANTIC $750,000 PRICE REDUCTION!! VALUE-ADD DEAL of the Year!! Sellers are Selling NOW at HUGE HUGE LOSS!! - More than $2,250,000++ Invested!!
  • Great Location with Super Visibility at an INCREDIBLE PRICE to Sell IMMEDIATEL!!
  • ABSOLUTELY INCREDIBLE VALUE-ADD INVESTMENT OPPORTUNITY FOR A RENOVATED SHOPPING CENTER AT A GIGANTIC DISCOUNTED PRICE!!
  • Additional Acreage for Expansion for 20,000 SF Building......Great Location for a Cash Wash!!

OVERVIEW

GIGANTIC $750,000 PRICE REDUCTION!! VALUE-ADD DEAL OF THE YEAR!! Sellers are Selling NOW at HUGE HUGE LOSS!! - More than $2,250,000++ Invested into Purchase and Renovations. Commercial Real Estate Professionals, Inc and Mark Allen, CCIM are pleased to offer this VALUE ADD Recently RENOVATED Retail Strip Center For Sale! This Renovated Shopping Center has NEW HVAC units, NEW Roof plus Awnings. Awnings and Gutter system are NEW, Much of the Electrical is NEW, and all Firewalls have been brought up to date. Nearly 50% of the Center Front Area has been Replaced and Redone as NEW. The center is Partially LEASED with Many Long-Time Tenant Occupants!! IMMEDIATE SALE!! The Sellers Need to Sell this property IMMEDIATELY and have REDUCED the Price by $750,000 to their BOTTOM-LINE BEST PRICE IMMEDIATELY for the 1st Buyer to Accept!! The Longtime Childcare Tenant sold to new owner and has a Brand-New 10-Year Lease INCREASING their Rent $2 MORE per square foot for Year #1, Adding a $500 per month CAM Fee, with an Annual Increase of $1 per square foot each year going forward, and becoming a NNN Lease in Year #2...THEIR RENT ESCALATES EVERY YEAR UNTIL THEY GET TO MARKET RENT!! The Market Tenant is ready to move into the 6,000 SF as soon as it is completed....The HVAC and Electrical are 95% Complete....all completely roughed in -- needs final items...light fixtures, plugs, etc....approximately $60,000 to finish the 6,000 SF unit so the Market Tenant can take occupancy ASAP. The 3,000 SF Unit is nearly ready for C.O....needs a sidewalk installed alongside the building for access to the unit and the two entry doors each need a 4'x4' concrete landing pad....approximately $5,000 to complete this. With a Small Cash Investment to finish up the 2 units the Center will Quickly be Fully Leased.... The Center Consists of 6 UNITS. Each unit has Individual Meters for Water and Electric. Owners are Managing the Center. There is additional Land for Expansion and Further Development for another 20,000 SF or possibly even a Car Wash Site!! ABSOLUTELY VALUE ADD STEAL!! INCREDIBLE VALIE-ADD INVESTMENT OPPORTUNITY FOR A RENOVATED SHOPPING CENTER AT A $750,000 PRICE REDUCTION!!

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$83 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

GIGANTIC $750,000 PRICE REDUCTION-VALUE-ADD

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Day Care Center, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1973

SPRINKLERS

-

PARKING SPACES

19

LAND DETAILS

LAND ACRES

4 AC

LAND SF

174,240 SF

ZONING

PUD

APN/PARCEL ID

23-18-26-0001-000-00300,23-18-26-0100-000-00A00,24-18-26-0002-000-03200,24-18-26-0002-000-03300

ASK ABOUT THIS PROPERTY

Mark AllenCommercial Real Estate Professionals, IncMore Info
321-689-8000

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Mark AllenCommercial Real Estate Professionals, IncMore Info
321-689-8000

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