Venetian Bay Commercial Condos

Highlights

• 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

Description

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!

Located west of Interstate 95 between Pioneer Trail and SR 44 just off Airport Road.

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