KOIN KLEEN LAUNDRY - LoopNet

[Pages:18]KOIN KLEEN LAUNDRY

166 S Atlantic Ave, Ormond Beach, Fl 32176

FOR SALE

166 S Atlantic Ave, Ormond Beach, Fl 32176

BEAU WARREN Realty Pros Commercial 386.589.5754 Beau@

OFFERING MEMORANDUM

900 W Granada Blvd. Ormond Beach, Fl 32174

TABLE OF CONTENTS

Executive Summary Investment Highlights Property Overview Site Plan Property Photos Zoning Volusia County Property Card Locator map Demographics Traffic Counts Contract Information Confidentiality Statement

3 4 5-6 7 8 9 10-11 13 12-14 26 27 28

900 W Granada Blvd. Ormond Beach, Fl 32174

EXECUTIVE SUMMARY

THE PROPERTY

Koin Kleen Laundromat 166 S Atlantic Ave Ormond Beach, Fl 32176

PROPERTY SPECIFICATIONS

Property Type: Building Size: Land Size: Year Built: Construction: Zoning: In Place NOI:

PRICE

Laundromat 1,200 FT 2,917 SF 1959 Concrete Block B7 Ormond Beach $21,609.72

Sale Price: CAP Rate: Terms:

$249,900 8.6% All Cash

Daytona Beach Metro Area shows great growth patterns on Florida's east coast. The new expanded $400m Speedway renovation in 2016. ONE Daytona multi-3use retail and hotel area, Tanger Outlet Mall. New 65,000 SF office complex. 400,000 SF food distribution. 200,000 SF pharmaceutical distribution. All within the vicinity. Soon to come a 6,500 Unit "Margaritaville" housing development. Daytona is a dynamic market with much growth potential!

900 W Granada Blvd. Ormond Beach, Fl 32174

INVESTMENT HIGHLIGHTS

? Lease Term ? Gross Rent Escalations ? Gross Profit ? NET INCOME

5 YEAR NNN 3% Annually $21,609.72 $21,609.72

LEASE YEARS

MONTHLY BASE RENT

ANNUAL BASE RENT

Current (2017) 1 (2018)* 2 (2019) 3 (2020) 4 (2021) 5 (2022)

$1,800.81 $1,854.83 $1,910.48 $1,967.79 $2,026.83 $2,087.63

$21,609.72 $22,257.96 $22,925.76 $23,613.48 $24,321.96 $25,051.56

Rent beginning the 6th year will be tied to the CPI Index but will be not less than 3% over rents paid during the fifth year or $1,854.83 per month nor greater than 10% over rents paid during the fifth year or $1,980.89 per month. For each year during the remaining four years of the renewal period the increases will be fixed at 3% each year.

900 W Granada Blvd. Ormond Beach, Fl 32174

PROPERTY OVERVIEW Outstanding investment opportunity in Ormond Beach, Fl. A new 5 year NNN lease to be signed with escalations leaving little landlord obligations. This is the only coin-op laundry facility in the area driving demand and ensuring sustainability.

900 W Granada Blvd. Ormond Beach, Fl 32174

PROPERTY OVERVIEW

ACREAGE: BUILDING SIZE: YEAR BUILT: CLEAR HEIGHT: SPRINKLERS: ELECTRICAL: LIGHTING: CONSTRUCTION: ZONING: ROOF: FENCING: TAX ID(S):

2,917 SF 1,200 FT 1956 8 FT N/A

Various Concrete Block/Stucco/ B-7 Flat

N/A 4214-17-01-0021

900 W Granada Blvd. Ormond Beach, Fl 32174

SITE PLAN 900 W Granada Blvd. Ormond Beach, Fl 32174

PROPERTY PHOTOS 900 W Granada Blvd. Ormond Beach, Fl 32174

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download